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  #1  
Old 02-02-2009, 05:02 PM
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Default California delays $3.5B in payments
Sucks to live in CA....
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Old 02-02-2009, 05:03 PM
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NEW YORK (CNNMoney.com) -- Running short of cash, California has started delaying $3.5 billion in payments to taxpayers, contractors, counties and social service agencies.
With the governor and state lawmakers locking horns on resolving California's budget crunch, the controller Monday halted checks covering these obligations so the state could continue funding its school system and making its debt payments.
The delay will inflict more pain on the already sorry condition of the Golden State, which is facing a $40 billion budget gap. People won't have tax refund money to spend, businesses won't get paid for their services and agencies won't have funds to help the needy until the budget situation is addressed.
Nearly $2 billion in personal state income tax refunds are being held up, according to state estimates. Last year, some two million Californians received refunds in February.
=cnn money
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Old 02-02-2009, 06:07 PM
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Sucks to live in CA....
Sunny, 80 degrees.
Yeah, it sucks alright. (Just don't have CA owe you any money.)
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Old 02-02-2009, 08:16 PM
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Originally Posted by Dr T Non-Fan View Post
Sunny, 80 degrees.
Yeah, it sucks alright. (Just don't have CA owe you any money.)
Just wait until they double or triple your taxes to stay afloat. Say hello to Wisconsin or most other states?
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Old 02-02-2009, 08:58 PM
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Is CA allowed to institute a property tax on all property in the state? That could probably cover the gap quickly.

It would also set a nasty precedent.
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Old 02-02-2009, 09:08 PM
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Is CA allowed to institute a property tax on all property in the state? That could probably cover the gap quickly.

It would also set a nasty precedent.
When I lived there your tax was only based on the original purchase price. Try to change that and you'll have to call the wambulance.

Cali is a state of people who want lower taxes and more government programs. Kind of like a lil' USA. Without a Money Printer.
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Old 02-03-2009, 07:52 AM
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What kills me is that they don't pay the people working but the welfare checks and free health care yada yada yada will flow freely.

They will then raise the taxes on the same people they are not paying.

Don't worry, just go to the camp.
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Old 02-03-2009, 10:34 AM
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What kills me is that they don't pay the people working but the welfare checks and free health care yada yada yada will flow freely.

They will then raise the taxes on the same people they are not paying.

Don't worry, just go to the camp.
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Old 02-03-2009, 11:04 AM
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Just wait until they double or triple your taxes to stay afloat. Say hello to Wisconsin or most other states?
I don't care if you raised my taxes here to 100% and were willing to put me up in a mansion. I ain't moving to Wiscansin.
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Old 02-03-2009, 11:10 AM
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What if "mansion" = "Chino"?
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