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I get paid so little, I can't notice any smaller amount getting withheld to the feds than what normally does.

If you are worried about it, calculate what you think your taxes will be and sock it away in a savings account. If you do owe the money, you are covered. If you DON'T owe the money, you just paid for something really nice.

Actually, I wish it were legal to do that - opt out of withholding. For a responsible person, it would allow THEM to earn interest on that money instead of the government. Unfortunately, most Americans aren't that responsible, and we would all be screwed after the first year.

I agree with radarman.

Be glad you aren't in Cal. Starting this week, the state is taking more money out of our checks, although the tax hasn't been increased. It's a tax free loan to the state and will be returned at tax refund time.

justine wrote:

Be glad you aren't in Cal. Starting this week, the state is taking more money out of our checks, although the tax hasn't been increased. It's a tax free loan to the state and will be returned at tax refund time.

Point #1 on why you should be able to opt out of withholding. Interest free loans taken by force are un-American.

Alien wrote:

Yeah. Here in socialist Europe, the government pays interest on withheld taxes.

.tsooJ

Well, as far as the recent increase in Cal, it isn't a "tax". It's a loan and they aren't hiding that fact. It really doesn't sound legal but i guess the state has to do something.

justine wrote:

Alien wrote:

Yeah. Here in socialist Europe, the government pays interest on withheld taxes.

.tsooJ

Well, as far as the recent increase in Cal, it isn't a "tax". It's a loan and they aren't hiding that fact. It really doesn't sound legal but i guess the state has to do something.

Hmm. I wonder what will happen if CA doesn't have the money to pay back those "loans" next year... This could get interesting. I just hope the other 49 don't try something like it.

robco wrote:

Yeah CA is a real mess. The legislature talks about how they're tackling difficult problems when in reality, they're simply pushing the problem into next year. I think they're hoping the economy turns around soon and income tax and sales tax revenues climb again. Good luck with that.

The problem is that no one is willing to make the hard choices. Choices that require actual sacrifice now, not later. This isn't just CA, it's the whole country, but it seems to be particularly prevalent in California.

That said, now is the wrong time to do many of the things that states would like to do to raise revenue. The housing market is already in the crapper, so raising property taxes (even if you could) would be a bad idea. Consumer spending is way down, and adding more sales taxes would just depress that sector further. I suppose you could raise an income or payroll tax, but unemployment is still high - and the latter could drive even higher unemployment. About the only thing left is cutting services, but that comes at a cost as well. Too few firefighters, and wildfires rage out of control. Too few police, and the criminals start to take over the neighborhoods.

So, for now, riding it out may actually be the best they can do. The trick will be if they attempt to solve the problem when the bill again comes due. If things ever do get straightened out, everyone (not just Cali) needs to budget on a much smaller scale in the future.

radarman wrote:

robco wrote:

Yeah CA is a real mess. The legislature talks about how they're tackling difficult problems when in reality, they're simply pushing the problem into next year. I think they're hoping the economy turns around soon and income tax and sales tax revenues climb again. Good luck with that.

The problem is that no one is willing to make the hard choices. Choices that require actual sacrifice now, not later. This isn't just CA, it's the whole country, but it seems to be particularly prevalent in California.

That said, now is the wrong time to do many of the things that states would like to do to raise revenue. The housing market is already in the crapper, so raising property taxes (even if you could) would be a bad idea. Consumer spending is way down, and adding more sales taxes would just depress that sector further. I suppose you could raise an income or payroll tax, but unemployment is still high - and the latter could drive even higher unemployment. About the only thing left is cutting services, but that comes at a cost as well. Too few firefighters, and wildfires rage out of control. Too few police, and the criminals start to take over the neighborhoods.

So, for now, riding it out may actually be the best they can do. The trick will be if they attempt to solve the problem when the bill again comes due. If things ever do get straightened out, everyone (not just Cali) needs to budget on a much smaller scale in the future.

One of the things Cali needs to do is repeal Prop 13. Too bad that's never going to happen.

radarman wrote:

robco wrote:

Yeah CA is a real mess. The legislature talks about how they're tackling difficult problems when in reality, they're simply pushing the problem into next year. I think they're hoping the economy turns around soon and income tax and sales tax revenues climb again. Good luck with that.

The problem is that no one is willing to make the hard choices. Choices that require actual sacrifice now, not later. This isn't just CA, it's the whole country, but it seems to be particularly prevalent in California.

That said, now is the wrong time to do many of the things that states would like to do to raise revenue. The housing market is already in the crapper, so raising property taxes (even if you could) would be a bad idea. Consumer spending is way down, and adding more sales taxes would just depress that sector further. I suppose you could raise an income or payroll tax, but unemployment is still high - and the latter could drive even higher unemployment. About the only thing left is cutting services, but that comes at a cost as well. Too few firefighters, and wildfires rage out of control. Too few police, and the criminals start to take over the neighborhoods.

So, for now, riding it out may actually be the best they can do. The trick will be if they attempt to solve the problem when the bill again comes due. If things ever do get straightened out, everyone (not just Cali) needs to budget on a much smaller scale in the future.

A company offered the state a considerable amount of money to be allowed to drill off shore. Part of the plan involved safely closing off existing off shore drilling equipment that is old. Even environmental groups were on board.

But one person in the state government who had the authority to block the deal did so because he believed we need to move away from oil based energy. The mother smurfer.

That would have brought a lot of money and jobs into the state.