CA income tax collection falls far short of hopes

[The Village Idiot]

Lets tax business to death and see what happens...

http://www.sacbee.com/2010/04/27/2707659/the-buzz-californias-april-income.html


Income tax revenues are lagging far behind projections with just four days to go until the end of what is typically California's highest-grossing month.

The state took in about $574.5 million in personal income tax receipts Friday, boosting the month's running total to $5.2 billion.

That means the state has a ways to go to meet Gov. Arnold Schwarzenegger's projection that California would bank $10.2 billion in income tax revenues this month.

Income tax revenues accounted for 51 percent of the state's general fund revenues in 2008-09.

California had collected $2.7 billion more in total revenues than projected through March, so the state entered April with a bit of a cushion. But that may be evaporating.

Read more: http://www.sacbee.com/2010/04/27/2707659/the-buzz-californias-april-income.html#ixzz0mLNLV2S6

[SSG Snuggle Bunny]

What? People have to be able to be profitable in order to pay taxes?

That's just crazy talk!