California Borrows from Peter to Pay Peter Then Robs Paul at Gunpoint
I just received an email from my office manager that the lovely state of California will be taking an extra 10% from every paycheck simply because they can. The California tax increase is not, in fact, a tax increase at all but a pay day loan to the state from residents. But we'll be in full-on default mode by then so I wouldn't hold my breath. Or have we already forgotten what they tried to pull with our tax refund checks?
Guess that yard sale didn't work out after all, eh?
I would like to personally inform the Taxinator that he is an asshat if he thinks this will save our state. You thought we were leaving in droves before? Just wait.
Come November, you may notice your paycheck is a bit smaller. As part of the state budget fix, lawmakers are "borrowing" future income withholding taxes in order to raise $1.7 billion for this fiscal year.
"It's not raising taxes. It's just getting the money, borrowing from you for a short period, non-interest bearing, and you'll get it back later," explained Sacramento accountant Ken Astle.
Astle said that taxpayers can file a DE-4 form to change withholdings and increase exemptions to compensate for the extra withholdings.
Taxpayers will get their money back come tax time in 2011, unless they underpaid their withholdings.
In addition, the state is also requiring individuals and business that make estimated tax payments to pay more earlier - another accounting move that is designed to help the state balance its budget this year.
Critics charge that the state is only delaying the task of balancing the budget without accounting gimmicks.
Accounting magic, eh? That's brilliant. So what the fuck does Mr Governator plan to do for 2011? Who is still going to be here to tax?
Idiots. See you bitches in Texas or something, I can't take much more of this.
Oh and Schwarzenegger, I want my 425% in interest just like Western Union gets for payday loans. Compounded daily. Suck it.