Posted on 04/23/2009 11:14:18 AM PDT by NormsRevenge
With eight days left in April, personal income tax receipts crested $5 billion – less than half the $12.8 billion collected in April 2008 and almost $4 billion short of the $8.9 billion, Governor Arnold Schwarzenegger’s Department of Finance estimates the state will take in during the month.
April is a crucial budgetary month because it is when the state receives the most personal income tax revenue. Less-than-expected revenue worsens the state’s budget imbalance which is already estimated at a minimum of $8 billion. Better-than-anticipated collections narrow the gap between cash and spending
The Monday after the April 15 filing deadline — April 20 — saw $1,150,715 in collections. But the subsequent Tuesday and Wednesday saw only $525,930 and $397,506, respectively.
On the same Tuesday and Wednesday in 2008, $650,876 and $694,486 were logged.
The Franchise Tax Board cautions that each year the timing of returns being received and when they get counted varies. A multi-billion dollar bonanza could occur on April 30. However, with eight days left, being $4 billion short of the break-even line, is far from ideal.
Arnold could ask Maria to sell a piece of jewelry or property, or he could do the same.
Problem solved. :)
Ahhhnuld... taxing his way to prosperity.
It's not like people will leave the state or anything.
Stay tuned for the next episode of ‘How Deep The Abyss?’
starring aRnold, Madonna, Maria, Perez Hilton in a cameo and more Kennedys than you can count filling in the gaps in the $pending a billion a minute plot.
A Rothschild Buffett Production
Rated SB777
Arthur Laffer is laughing.
federal tax reciepts are also way down
Well might Laffer ask, “Who is the girly-man now, Arnold?”
Even though Laffer never left, he’ll “..be back!”.
“Going Galt”
http://opinionator.blogs.nytimes.com/2009/03/06/going-galt-everyones-doing-it/?ref=opinion
Drill Arnold is your only way out. The producers of jobs and wealth have left your State. Rino
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