Technically, it’s not stealing…

California to withhold a bigger chunk of paychecks

The amount goes up 10% on Sunday as Sacramento borrows from taxpayers. Technically, it’s not an income tax increase: You’ll get the money back eventually.

Technically, it’s not a tax increase, even though it may feel like one when your next paycheck arrives. As part of a bundle of budget patches adopted in the summer, the state is taking more money now in withholding, even though workers’ annual tax bills won’t change.

Think of it as a forced, interest-free loan: You’ll be repaid any extra withholding in April. Those who would receive a refund anyway will receive a larger one, and those who owe taxes will owe less…

And the quote of the day from Ride Fast:

As of yesterday, California is stealing an additional 10% of wage earners pay, by pre-deducting today your future taxes of tomorrow. They say it’s all wonderful and rainbow, unicorn farts, cause you’ll get the money back.

Ah, no, you won’t. They won’t be paying interest. And since they didn’t ask, it’s stealing. I say they’re breaking the law by not passing a tax increase. Borrowing isn’t a tax increase, they say. Raising fees on everything isn’t a tax increase, they say. I call bullshit on that.

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One Response to “Technically, it’s not stealing…”

  1. T.S. Nunya Says:

    Californians are just getting what they deserve. They have been in serious fiscal trouble for years, but refused to face up to it. They had a governor who raised taxes so the state could meet its commitments and the voters went ape shit. Then Arnold Schwarzenegger came along promised a different form of rainbows and unicorns. He promised to cut taxes and balance the budget. It simply was not possible to cut taxes and balance the budget, yet dumbass Californians believed him. They’ll be paying the price for decades, too.

    I won’t bore you with the details, but there are a lot of structural reasons for the unique situation in California. They are literally a text book example of how NOT to set up a state political system.

    It’s too bad too. California would be a nice place if it weren’t for the Californians.

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