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Author Topic: California Expects People Getting IOUs To Pay Income Taxes On Them  (Read 3314 times)

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Offline bijou

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California Expects People Getting IOUs To Pay Income Taxes On Them
« on: August 09, 2009, 09:56:08 AM »
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California’s budget woes have resulted in the state “paying” a number of its vendors with IOU’s.  That’s a bad enough situation as these businesses who have already provided the goods and/or services purchased to the government have to keep paying their bills (and not with IOU’s), but now the state wants them to pay taxes on the IOU’s they’ve received as if they were income.


SAN FRANCISCO (CN) - Small businesses that received $682 million in IOUs from the state say California expects them to pay taxes on the worthless scraps of paper, but refuses to accept its own IOUs to pay debts or taxes. The vendors’ federal class action claims the state is trying to balance its budget on their backs. ...
http://www.kxmc.com/News/Nation/417869.asp
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Offline NHSparky

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Re: California Expects People Getting IOUs To Pay Income Taxes On Them
« Reply #1 on: August 09, 2009, 09:57:11 AM »
And the exodus from Calfornistan continues.  Last taxpayer out, turn off the lights.
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Offline Chris_

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Re: California Expects People Getting IOUs To Pay Income Taxes On Them
« Reply #2 on: August 09, 2009, 10:14:05 AM »
Quote from: NHSparky on August 09, 2009, 09:57:11 AM
And the exodus from Calfornistan continues.  Last taxpayer out, turn off the lights.

The lights will likely already be off......but please take down the American flag...........

doc
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Offline DumbAss Tanker

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Re: California Expects People Getting IOUs To Pay Income Taxes On Them
« Reply #3 on: August 09, 2009, 10:24:08 AM »
Another painful lesson in the Law of Unintended Consequences.
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Offline NHSparky

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Re: California Expects People Getting IOUs To Pay Income Taxes On Them
« Reply #4 on: August 09, 2009, 10:28:59 AM »
Quote from: DumbAss Tanker on August 09, 2009, 10:24:08 AM
Another painful lesson in the Law of Unintended Consequences.

No, not painful enough, because they'll keep voting in the same idiots time and again.
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Offline Chris_

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Re: California Expects People Getting IOUs To Pay Income Taxes On Them
« Reply #5 on: August 09, 2009, 05:16:01 PM »
Yes just take at the kind of shit they crank out ie Madam Speaker and the wonderful Governor. Glad I live in a semi "norma" state
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Offline thundley4

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Re: California Expects People Getting IOUs To Pay Income Taxes On Them
« Reply #6 on: August 09, 2009, 06:21:25 PM »
Quote from: TVDOC on August 09, 2009, 10:14:05 AM
The lights will likely already be off......but please take down the American flag...........

doc

Do they allow the American Flag to be flown in California, or did they just start doing that after 0bama's election?
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Offline Chris_

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Re: California Expects People Getting IOUs To Pay Income Taxes On Them
« Reply #7 on: August 09, 2009, 06:34:51 PM »
The only flags I remember had more colors of the "rainbow" when I lived there
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Offline thundley4

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Re: California Expects People Getting IOUs To Pay Income Taxes On Them
« Reply #8 on: August 09, 2009, 06:55:27 PM »
Quote from: newbiered on August 09, 2009, 06:34:51 PM
The only flags I remember had more colors of the "rainbow" when I lived there

I'm sure there are plenty of flags flying there, now.  Unfortunately most of them are like what you said or Mexican.
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Offline Chris_

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Re: California Expects People Getting IOUs To Pay Income Taxes On Them
« Reply #9 on: August 10, 2009, 06:31:31 AM »
Quote from: thundley4 on August 09, 2009, 06:21:25 PM
Do they allow the American Flag to be flown in California, or did they just start doing that after 0bama's election?
Yeah, they fly 'em, but they've been upside down since beginning of the reign of Uncle Zer0.
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Offline Chump

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Re: California Expects People Getting IOUs To Pay Income Taxes On Them
« Reply #10 on: August 10, 2009, 08:05:58 AM »
I'm shocked this hasn't been taken to court yet.  All the vendors who supply California receiving IOUs?  Uh, they probably have a contract demanding actual "payment."  Now California wants to force people to pay income taxes on something that isn't money?    :mental:
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Offline thundley4

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Re: California Expects People Getting IOUs To Pay Income Taxes On Them
« Reply #11 on: August 10, 2009, 08:19:39 AM »
Quote from: Chump on August 10, 2009, 08:05:58 AM
I'm shocked this hasn't been taken to court yet.  All the vendors who supply California receiving IOUs?  Uh, they probably have a contract demanding actual "payment."  Now California wants to force people to pay income taxes on something that isn't money?    :mental:

Those companies should send the Ca. Dept. of Revenue a bunch of IOU's.
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Offline Chris_

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Re: California Expects People Getting IOUs To Pay Income Taxes On Them
« Reply #12 on: August 10, 2009, 11:08:19 AM »
Quote from: thundley4 on August 10, 2009, 08:19:39 AM
Those companies should send the Ca. Dept. of Revenue a bunch of IOU's.
Maybe Hopey McChangespoon will swoop in on his Rainbow PonyTM and pay it for them.   :-)
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Offline Wineslob

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Re: California Expects People Getting IOUs To Pay Income Taxes On Them
« Reply #13 on: August 10, 2009, 02:29:25 PM »
Send the State an IOU....................
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Offline Rebel

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Re: California Expects People Getting IOUs To Pay Income Taxes On Them
« Reply #14 on: August 10, 2009, 07:58:55 PM »
Quote from: Wineslob on August 10, 2009, 02:29:25 PM
Send the State an IOU....................

Touche.
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Offline AllosaursRus

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Re: California Expects People Getting IOUs To Pay Income Taxes On Them
« Reply #15 on: August 12, 2009, 08:14:32 PM »
Quote from: NHSparky on August 09, 2009, 10:28:59 AM
No, not painful enough, because they'll keep voting in the same idiots time and again.

More than likely, these same people donated tons of money to elect the thieves that are in office writing the IOU's! Get a clue, people!
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Offline Freeper

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Re: California Expects People Getting IOUs To Pay Income Taxes On Them
« Reply #16 on: August 14, 2009, 04:06:55 PM »
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