Rats! My husband and I were soooooo looking forward to a nice return from our California State taxes, especially since our family has probably overpaid our state taxes deducted throughout 2008. The article that I'm posting below is a pretty interesting read. In fact, if it weren't so sad and disturbing that the California state government needs IOUs from us taxpayers, I would actually find all this very funny but since our family is one of those taxpaying families who will probably just get an IOU, it's not so funny at all....
The article below was written online by an author who identifies himself only as "Rob".
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California So Bankrupt Tax Refunds Are Being Delayed
By "Rob" , Posted at Say Anything Blog http://sayanythingblog.com/entry/california_so_bankrupt_tax_refunds_are_being_delayed/
This advice is too late for 2008, but in the coming year Californians may want to make sure they’re not overpaying on their taxes lest the government just keep the money. Something that would be deemed “theft” in the private sector.
But in this instance it’s the government, so it's ok. By the way, if you were expecting a welfare check from the State of California you’re out of luck too. Those are being delayed as well.
The controller said the suspended payments could be rolled into IOUs if California still lacked sufficient cash to pay its bills come March or April.
“I take this action with great reluctance,” Chiang said at a news conference in his office. But he said that without action to close the deficit, “there is no way to make it through February unscathed.”
IOU’s? Really?
I’m reminded of a scene from a familiar movie Dumb & Dumber where Jim Carey touts his famous empty suitcase of money. Click here to watch it now:
http://www.youtube.com/watch?v=7GSXbgfKFWg&eurl=http://sayanythingblog.com/entry/california_so_bankrupt_tax_refunds_are_being_delayed/&feature=player_embedded
What’s amazing is that these tax refunds do not belong to the government. I know over the years we’ve all gotten used to the tax-and-refund shell game the government plays to confuse the issue of how much we really pay in taxes, and many have started to think of those refunds as money the government is giving them (exactly what they want us to think), but that money still doesn’t belong to the government.
What’s even more amazing is that nobody in California seems to be talking about a downsizing of government as a way to alleviate this budgeting disaster. Instead, California is lining up at the federal trough with a number of other states and demanding a big, fat bailout.
I think the California government should be left in the wind. And if that’s detrimental to Californians who want their tax refunds or welfare checks…well…too bad. They voted for these jerks and idiots. Let them unelect them and replace them with leaders who can control spending and balance a budget.
Bailing out the state would only serve to prop up the sort of foolishness that led to this debacle in the first place.
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