Calf. To Issue "IOU's" For Tax Refunds?

Discussion in 'Economy' started by Annie, Jan 2, 2009.

  1. Annie
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    Annie Diamond Member

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    Forced loans to a failing state is more like it:

    Calif. Taxpayers Due Refunds May Get IOUs - NBCBAYAREA- msnbc.com

     
  2. Toro
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    Toro Diamond Member

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    I hope they don't bail out California.

    Or any state for that matter.
     
  3. Annie
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    Annie Diamond Member

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    I wonder if we could PAY our taxes the same way? :eek:
     
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  4. random3434
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    random3434 Senior Member

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    I would be pissed!

    I'm planning on using MY money I lent to the government to help pay for my daughter's braces!
     
  5. editec
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    editec Mr. Forgot-it-All

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    Lots of states and local government are in trouble folks.

    Commonly states and local governments borrow money during the year in anticipation of tax revenues.

    Since they cannot borrow money now, and since tax revenues are dropping, too, a whole lotta state and local governments in the USA are in serious fiscal trouble.

    This is what comes of having people pretending to be fiscal conservatives in office who are, in fact, nothing of the sort.
     
  6. WillowTree
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    WillowTree Diamond Member

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    Ahhhhh! come on folks.. aren't you feeling generous? It's the cost of soliciting votes donchaknow? High priced. High maintenance votes! Enjoy.
     
  7. RetiredGySgt
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    RetiredGySgt Platinum Member

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    California made this mess themselves. They allowed the citizens to create mandatory expenditures for the State through Ballot initiatives. The State has so many mandatory expenditures that even if they WANTED to be fiscally responsible they couldn't be.
     
  8. editec
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    editec Mr. Forgot-it-All

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    I don't live in CA so I'm not sure I know what you're talking about.

    Like what mandatory expenditures, for example?
     
  9. RetiredGySgt
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    RetiredGySgt Platinum Member

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    I don't know them by name, however if you do some research you will find that they exist. When Annooold got elected he couldn't balance the Budget without cutting schools and critical services cause something like 60 percent of the budget is mandatory spending by voter initiatives passed in previous years.
     
  10. Ravi
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    Ravi Diamond Member

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    The had to put up signs yesterday saying it was illegal to text while driving.
     

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