More CA fun - taking a "loan" from citizens via 10% tax withholding increase

[glenn1]

Nice to see the "high tax, high services" model of California at work (even nicer to see if in action from afar). This is good news, since as we've been told by numerous California liberals, they're honored to pay high taxes.

http://online.wsj.com/article/SB10001424052748703932904574511923279377100.html

 

[CycloWizard]

Wow. I guess if states can't take on "debt," they will just steal from their constituents in the form of zero-interest involuntary "loans."

 

[sciwizam]

There should be a prize for economic shenanigans, sort of like razzies are to oscars.

 

[StageLeft]

haha, epic. California lol

 

[PokerGuy]

hahahaha

I just have to laugh at the idiots in CA that allow their government to do this kind of stuff.

 

[RyanPaulShaffer]

LOL California!

"Sacramento lawmakers have authorized a 10% increase in the amount of taxes withheld from worker paychecks starting November 1 and through 2010."

"But the lawmakers say this isn't a tax increase."

:hmm:

 

[lupi]

C1234 and the rest of the kali progressives should be here any moment saying how this is good, but not good enough. It should be 20% for the betterment of the people.

 

[Genx87]

California the sinking ship seems to plug holes by creating new ones.

 

[PokerGuy]

C1234 and the rest of the kali progressives should be here any moment saying how this is good, but not good enough. It should be 20% for the betterment of the people.

Yes. Clearly, mandatory interest free loans to the government to allow it to waste more money and never cut spending to match their income is a good thing. :hmm:

 

[Mursilis]

Wow. I guess if states can't take on "debt," they will just steal from their constituents in the form of zero-interest involuntary "loans."

I'd feel bad for those people, but they keep returning these types of politicians to office, so I'll just have to chuckle instead. Great stuff.

 

[PokerGuy]

I'd feel bad for those people, but they keep returning these types of politicians to office, so I'll just have to chuckle instead. Great stuff.

The only ones that I feel bad for are those that people like Craig call "radicals", the ones that believe in smaller governments and less government waste. There are not enough of them in CA, and the result is predictable, a broke state seeking ever more creative ways to enable their out of control and irresponsible spending habits.

 

[Jaskalas]

hahahaha

I just have to laugh at the idiots in CA that allow their government to do this kind of stuff.

They do not explicitly say to the government "bend us over". They ask for all these things to be given to them, and then act surprised when it comes time to take things away.

A government big enough to give you everything is also big enough to take everything. There is no bill of rights or checks and balances, there is no democracy in this form of government. There is only a parasite feeding off its willing host.

 

[MotF Bane]

The state will never repay this either.

 

[Jaskalas]

It is said that power is like sand. The more you squeeze, the more it will slip away.

Well in politics money is also power. With all these new taxes the wealth of California will continue to flee and maybe even pick up the pace of their flight. All these taxable assets are destined to be replaced by impoverished immigrants.

The bane of socialist states is that people are free to move about the country. Perhaps they need a Berlin wall to keep people in.

 

[PokerGuy]

They do not explicitly say to the government "bend us over". They ask for all these things to be given to them, and then act surprised when it comes time to take things away.

A government big enough to give you everything is also big enough to take everything. There is no bill of rights or checks and balances, there is no democracy in this form of government. There is only a parasite feeding off its willing host.

Thumbsup, agreed.

 

[Mursilis]

The NY Times Magazine had an interesting article about the NJ Governor's race that reminded me of the state of affairs in Cal. as well. It was called "State of Distress", and was about the collision of people's wants and people's unwillingness to pay for those wants, and how it hits hardest in high tax/high services states like NJ. The same could be said about Cal. - politicians get elected promising the moon, and then get booted when they fail to deliver. Of course they fail to deliver - few states can afford those promises. Unfortunately, this reality doesn't exist at the federal level, as the feds just keep on borrowing. I'd link the article, but I'm not seeing that option in this new format. But it's definitely an interesting read.

 

[PokerGuy]

People want the government to deliver it all, but they don't want to pay for it all.

That's really why every state (and the country as a whole, at the federal level) should have a balanced budget constitutional amendment.

The federal government and states should be forced to balance the budget, including a provision that mandates that they put away a certain percentage in years where there is positive GDP growth towards a rainy day fund. Then, in tough years, they could draw on that rainy day fund to fill the gaps.....

 

[Hayabusa Rider]

haha, epic. California lol

Don't laugh. If Sacramento did it, Paterson and Albany won't be far behind to one up them.

 

[Jaskalas]

The NY Times Magazine had an interesting article about the NJ Governor's race that reminded me of the state of affairs in Cal. as well. It was called "State of Distress", and was about the collision of people's wants and people's unwillingness to pay for those wants, and how it hits hardest in high tax/high services states like NJ. The same could be said about Cal. - politicians get elected promising the moon, and then get booted when they fail to deliver. Of course they fail to deliver - few states can afford those promises. Unfortunately, this reality doesn't exist at the federal level, as the feds just keep on borrowing. I'd link the article, but I'm not seeing that option in this new format. But it's definitely an interesting read.

The obvious solution is for the Feds to bankroll all states who need a bailout. Too big to fail, aren't they? President Obama needs to be on this like nothing else existed, as it would solve a great many problems for his party.

 

[JS80]

hahahaha

I just have to laugh at the idiots in CA that allow their government to do this kind of stuff.

Democracy, where 51% of the people FUCK the other 49% through voting.

 

[Darwin333]

The state will never repay this either.

Sure they will, I bet they are already starting to print out the IOU's.

 

[shira]

hahahaha

I just have to laugh at the idiots in CA that allow their government to do this kind of stuff.

"Allow?" What do you propose that the residents of California do to NOT "allow" this? Assassinate all of the legislators and go back to a tribal system?

 

[Darwin333]

"Allow?" What do you propose that the residents of California do to NOT "allow" this? Assassinate all of the legislators and go back to a tribal system?

Even California is not a dictatorship. Those politicians serve at the pleasure of their constituents. Period. Recalls, strikes, protests, civil disobedience, etc... Plenty of ways for the people to remedy the situation if they so desire.

 

[woodie1]

"Allow?" What do you propose that the residents of California do to NOT "allow" this? Assassinate all of the legislators and go back to a tribal system?

That would be a good start.

 

[Jaskalas]

That would be a good start.

Tribes are certainly cheap....

Still, no one wants to comment on the need for the President to bail out these failed states?