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Author Topic: California Forces Wage Earners To Loan Money To State  (Read 2273 times)

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Offline thundley4

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California Forces Wage Earners To Loan Money To State
« on: October 31, 2009, 05:07:28 PM »
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The amount goes up 10% on Sunday as Sacramento borrows from taxpayers. Technically, it's not an income tax increase: You'll get the money back eventually.

Reporting from Los Angeles and Sacramento - Starting Sunday, cash-strapped California will dig deeper into the pocketbooks of wage earners -- holding back 10% more than it already does in state income taxes just as the biggest shopping season of the year kicks into gear.

Technically, it's not a tax increase, even though it may feel like one when your next paycheck arrives. As part of a bundle of budget patches adopted in the summer, the state is taking more money now in withholding, even though workers' annual tax bills won't change.

Think of it as a forced, interest-free loan: You'll be repaid any extra withholding in April. Those who would receive a refund anyway will receive a larger one, and those who owe taxes will owe less.

But with rising gas costs, depressed home prices and double-digit unemployment, the state's added reach into residents' regular paycheck isn't sitting well with many.

"The state's suddenly slapping people upside the head," said Mack Reed, 50, of Silver Lake. "It's appalling how brash that is."
  La La Times

I wouldn't be surprised if the DimRats decide to try this on a national scale.  I wonder if next April California will repay these "loans', with IOU's?
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Offline bkg

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Re: California Forces Wage Earners To Loan Money To State
« Reply #1 on: October 31, 2009, 05:12:03 PM »
how the FAWK is that legal?
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Offline thundley4

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Re: California Forces Wage Earners To Loan Money To State
« Reply #2 on: October 31, 2009, 05:26:00 PM »
Quote from: bkg on October 31, 2009, 05:12:03 PM
how the FAWK is that legal?

Legal, smeagle, since when has that mattered to Dims and Dim-wannabes, (Ahnold).
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Offline bkg

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Re: California Forces Wage Earners To Loan Money To State
« Reply #3 on: October 31, 2009, 05:30:40 PM »
Quote from: thundley4 on October 31, 2009, 05:26:00 PM
Legal, smeagle, since when has that mattered to Dims and Dim-wannabes, (Ahnold).

I saw arnold standing next to Biden praising the Porkulus bill. The irony made me laugh.
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Offline Celtic Rose

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Re: California Forces Wage Earners To Loan Money To State
« Reply #4 on: October 31, 2009, 05:41:59 PM »
Never mind, my reading comprehension obviously isn't working well today.
« Last Edit: October 31, 2009, 07:10:55 PM by Celtic Rose »
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Offline rich_t

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Re: California Forces Wage Earners To Loan Money To State
« Reply #5 on: October 31, 2009, 05:44:41 PM »
People are leaving Ny and NYC by the truck load over increased taxes leaving NY with an even bigger budget deficit.  Looks like CA is trying hard to make the same thing happen.

They have already driven many companies out of state with their outrageous taxes.

TANSTAAFL.
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Offline thundley4

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Re: California Forces Wage Earners To Loan Money To State
« Reply #6 on: October 31, 2009, 05:54:54 PM »
Quote from: Celtic Rose on October 31, 2009, 05:41:59 PM
I'm pissed about this.  I just made an offer on a house, and now I'll have even less money.  My mom is pissed because my dad's work cut pay by 10% earlier this year, and they are going to get it back in their paychecks starting in November, so she was happy thinking that there would be extra money coming in.  Now the state is taking it right back.  10% is a pretty significant chunk. Anybody know of any paralegal positions that are hiring near them?  I have experience in immigration law and I have excellent communication skills.   :cheersmate:

I don't think they will be withholding an additional 10%. The way I read it is that they will withhold 10% more of what they withhold now.  e.g. If they are withholding $10, they will now take $11.
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Offline Celtic Rose

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Re: California Forces Wage Earners To Loan Money To State
« Reply #7 on: October 31, 2009, 07:10:10 PM »
Quote from: thundley4 on October 31, 2009, 05:54:54 PM
I don't think they will be withholding an additional 10%. The way I read it is that they will withhold 10% more of what they withhold now.  e.g. If they are withholding $10, they will now take $11.

Okay, that still sucks, but not quite as bad.  I obviously didn't read the news closely enough this morning :shucks:  My Bad!
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Offline thundley4

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Re: California Forces Wage Earners To Loan Money To State
« Reply #8 on: October 31, 2009, 07:15:42 PM »
Quote from: Celtic Rose on October 31, 2009, 07:10:10 PM
Okay, that still sucks, but not quite as bad.  I obviously didn't read the news closely enough this morning :shucks:  My Bad!

We're used to expecting the worst from government, so it would have been easy to misinterpret the article.
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Offline Chris_

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Re: California Forces Wage Earners To Loan Money To State
« Reply #9 on: October 31, 2009, 07:24:32 PM »
Quote from: thundley4 on October 31, 2009, 07:15:42 PM
We're used to expecting the worst from government, so it would have been easy to misinterpret the article.

Except, even when we expect the worst from government, they so often find new and interesting ways to show that we were waaaaay too optimistic in our expectations.
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Offline bkg

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Re: California Forces Wage Earners To Loan Money To State
« Reply #10 on: October 31, 2009, 07:44:16 PM »
how the hell will people survive in NYC and CA? We're looking at a 30%+ increase in taxes via the healthcare bill ALONE, depending on your bracket. Add cap-n-tax to that and people are going to be in the 70-75% tax bracket.
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Offline thundley4

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Re: California Forces Wage Earners To Loan Money To State
« Reply #11 on: October 31, 2009, 07:47:42 PM »
Quote from: bkg on October 31, 2009, 07:44:16 PM
how the hell will people survive in NYC and CA? We're looking at a 30%+ increase in taxes via the healthcare bill ALONE, depending on your bracket. Add cap-n-tax to that and people are going to be in the 70-75% tax bracket.

People will survive by relying on more government handouts.  Of course that will mean higher taxes in the near future.  :fuelfire:
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Offline NHSparky

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Re: California Forces Wage Earners To Loan Money To State
« Reply #12 on: November 01, 2009, 05:15:33 AM »
Quote from: thundley4 on October 31, 2009, 05:54:54 PM
I don't think they will be withholding an additional 10%. The way I read it is that they will withhold 10% more of what they withhold now.  e.g. If they are withholding $10, they will now take $11.

Only problem is, CA's has 9.3 percent income tax.  Make $50K a year, that's roughly $1000/week.  $93 of that goes to the state already.  Add another $9-10.  That's another $500 out of YOUR pocket per year.  On top of all the other taxes, fees, workman's comp, unemployment insurance, etc., that CA charges before you ever see your check.
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Offline deportliberals

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Re: California Forces Wage Earners To Loan Money To State
« Reply #13 on: November 04, 2009, 12:52:28 PM »
Next Monday, all California wage earners will see their salaries reduced by 10%.  The state has ordered that all california income eaners WILL LOAN the state 10% of their salary to help pay for the state's budget deficit.

The lefties insist that this is not a tax increase but an interest free loan that Californians will be forced to make to the state.  And, of course, the taxpayers will get the money back, ha,ha,ha,ha,ha.

Caliifornia has been bleeding popoulation like crazy.  Most of the migration from that state are the upper income earners and well to do.  Look for a pickup in the population decrease as a result of this robbery.

http://www.times-standard.com/ci_13695226
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Offline Chump

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Re: California Forces Wage Earners To Loan Money To State
« Reply #14 on: November 04, 2009, 12:57:39 PM »
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Offline deportliberals

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Re: California Forces Wage Earners To Loan Money To State
« Reply #15 on: November 04, 2009, 01:49:05 PM »
According to the census bureau, California and New York have the largest on-going population drains of all 50 states.

This will just hasten the brain drain and upper income drain out of California faster.  The problem with that is I don't want these leftist asswipes coming to my state to pollute it with their california leftist politics.
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Offline NHSparky

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Re: California Forces Wage Earners To Loan Money To State
« Reply #16 on: November 04, 2009, 04:23:17 PM »
Quote from: deportliberals on November 04, 2009, 12:52:28 PM
Next Monday, all California wage earners will see their salaries reduced by 10%.  The state has ordered that all california income eaners WILL LOAN the state 10% of their salary to help pay for the state's budget deficit.

The lefties insist that this is not a tax increase but an interest free loan that Californians will be forced to make to the state.  And, of course, the taxpayers will get the money back, ha,ha,ha,ha,ha.

Caliifornia has been bleeding popoulation like crazy.  Most of the migration from that state are the upper income earners and well to do.  Look for a pickup in the population decrease as a result of this robbery.

http://www.times-standard.com/ci_13695226

Try again.  Mathematics FAIL.
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Offline NHSparky

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Re: California Forces Wage Earners To Loan Money To State
« Reply #17 on: November 04, 2009, 04:23:53 PM »
Quote from: deportliberals on November 04, 2009, 01:49:05 PM
According to the census bureau, California and New York have the largest on-going population drains of all 50 states.

This will just hasten the brain drain and upper income drain out of California faster.  The problem with that is I don't want these leftist asswipes coming to my state to pollute it with their california leftist politics.

Too late.  They're already there.
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Offline thundley4

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Re: California Forces Wage Earners To Loan Money To State
« Reply #18 on: November 04, 2009, 04:32:45 PM »
Quote from: NHSparky on November 04, 2009, 04:23:17 PM
Try again.  Mathematics FAIL.

He should have read upthread on the merged thread.
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