California may pay taxpayer income tax refunds in April with IOUs

Quote from lrm21:

I think the concept of property rights is non-existent in CA. And is in the process of dissappering in the USA.

Anyone who thinks otherwise is living in a fantasy land.
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Yeah and wealth is disappearing faster than anybody would believe. People with means are seeing the writing on the wall and it says "Mexicans are going to legislate all your money into their pockets". One study showed that 7000 households with net worth over a mil pulled up stakes and left LA County. I'm not sure if they all left the state but likely they did, the neighboring states to the east are tax havens by comparison.
 
Quote from nutmeg:

CA should issue a debit card instead of an iou and you could use it to pay other state taxes.
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Californians should just have any refund applied to next years taxes..
 
Quote from gnome:

Californians should just have any refund applied to next years taxes..
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Impossible. That would reduce tax revenues for next year and therefore it would reduce spending..........well maybe not reduce spending.
 
Maybe this will teach everyone that has their withholding set so they "get money back" to adjust it so they owe a little or get no refund. I don't live in Cali, but I still hear people where I live say they are looking forward to their refund and don't understand they are giving the gov. a tax free loan during the year.
 
Quote from seauouch:

The pork that goes on at the state & local level is DISGUSTING. I live in MA ( Cali-northeast ) & in my hometown the highschool that used to service 3 towns now services just 1 town ( 60% less students than in the '70's ) & yet the voters recently passed a 16 mil proposal for a high school addition because of overcrowding??

The town hall just had a 2 mil renovation for granite steps/ handicap ramp. ( Town pop =15k )

The last mayor on his last day in office gave huge ( 35%+) pay raises to his friends in the local gov in their retirement year to juice up the pensions they will be recieving.

Cops here get a 8% annual bonus for passing a fitness test ( only one person has ever failed, that person was fired & ended up suiing the city & won for wrongful termination )

At the state level the big dig was the one of the biggest taxpayer rip offs in recent memory ( until the bank bailouts that is ) The original budget was 6 billion it came in at 17 billion. The 1st manager of the big dig was arrested for stealing & selling scrap metal & supplies while using truckers ( on the taxpayers tab ) to haul the stolen goods during working hours.

When the big dig was finally finished ( 5 years late & 300% over budget ) MASSPORT ( gov agency in charge ) decided it would be nice to hire the Boston Pops to perform at the grand opening @ an addition $500,000.00 of taxpayer $$$ ( public outcry nixed this thankfully )

3 months after the big dig is finished leaks are springing up all over place, a huge 10 ton support plate falls & crushes a car killing some poor woman. Repairs will top 500m to fix the shoddy work.

Toll takers in MA earn 45k+ per year yet are routinely arrested for stealing etc

Whenever their is a budget short fall though..OH NOS we are already CUT TO THE BONE, more taxes are the only answer.
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2nd that as I'm also a Masshole. Don't forget the statewide health care plan (which payments sent are outsourced to a company in New Jersey) and we'll fine you if you don't have some type of health care period, it's 2nd largest city (Springfield) that needed a bridge loan to avoid bankruptcy from corruption (that it may never pay back), the huge uprising by the police union to use common people as flagmen for traffic duty (since it cuts their pie out), the ass-backwards logic in this state is unreal...

oh but wait; Democrats are the huge majority.
 
In the CNBC piece on Madoff just now, I saw the owner of Fast Eddie's Pawn in Palm Beach tell the interviewer "It's bad, stock up on rice and get ready to hide. It's coming."
:eek:
 
Quote from seauouch:

The pork that goes on at the state & local level is DISGUSTING. I live in MA ( Cali-northeast ) & in my hometown the highschool that used to service 3 towns now services just 1 town ( 60% less students than in the '70's ) & yet the voters recently passed a 16 mil proposal for a high school addition because of overcrowding??

The town hall just had a 2 mil renovation for granite steps/ handicap ramp. ( Town pop =15k )

The last mayor on his last day in office gave huge ( 35%+) pay raises to his friends in the local gov in their retirement year to juice up the pensions they will be recieving.

Cops here get a 8% annual bonus for passing a fitness test ( only one person has ever failed, that person was fired & ended up suiing the city & won for wrongful termination )

At the state level the big dig was the one of the biggest taxpayer rip offs in recent memory ( until the bank bailouts that is ) The original budget was 6 billion it came in at 17 billion. The 1st manager of the big dig was arrested for stealing & selling scrap metal & supplies while using truckers ( on the taxpayers tab ) to haul the stolen goods during working hours.

When the big dig was finally finished ( 5 years late & 300% over budget ) MASSPORT ( gov agency in charge ) decided it would be nice to hire the Boston Pops to perform at the grand opening @ an addition $500,000.00 of taxpayer $$$ ( public outcry nixed this thankfully )

3 months after the big dig is finished leaks are springing up all over place, a huge 10 ton support plate falls & crushes a car killing some poor woman. Repairs will top 500m to fix the shoddy work.

Toll takers in MA earn 45k+ per year yet are routinely arrested for stealing etc

Whenever their is a budget short fall though..OH NOS we are already CUT TO THE BONE, more taxes are the only answer.
More...

This is ocurring everywhere
Corruption in govt is part of it's very nature the problem we are having is we are on a govt. Binge
Every 10 blocks is a township every 2 townships are a municipality every 5 munis are a county then state then federal

As for CA IOU it's really our IOU to to the people of Ca you can guarantee Obama will bail them out

The stock market will turn around for the short term but the overall direction of this country is bankruptcy and civil war, it's a matter of time and pain
 
Examples of the Ca IQ.
http://www.latimes.com/news/printedition/front/la-me-outofstate4-2009jan04,0,5259224.story


UC officials debate accepting more non-Californians to boost revenue
Out-of-state and international students could help the public university system cushion cuts in funding, but could also keep out qualified local applicants.

http://www.latimes.com/news/printedition/california/la-me-immigtuition5-2009jan05,0,6556064.story


California Supreme Court to take on state law granting in-state tuition to illegal immigrants
The justices have accepted the case that began with a lawsuit filed by out-of-state students and their parents, who argue that such a benefit violates federal law.
 
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