(h/t: Instapundit) California’s come up with another way to ensure that when the state finally crashes, it’s really going to crash:
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.Reporting from Los Angeles and Sacramento – Starting Sunday, cash-strapped California will dig deeper into the pocketbooks of wage earners — holding back 10% more than it already does in state income taxes just as the biggest shopping season of the year kicks into gear.
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.
If I ever become a convert to Objectivism, it’ll be because of California: that state seems determined to ignore the elementary fiscal rule of Don’t spend money that you don’t have, you idjits. I realize that this sounds like a simplistic solution to what is a very complicated problem, but so is Robbing Peter to Pay Paul. Except that in this case it’s more like Robbing Peter and Paul while telling them that they’ll be getting the money back. Unless they need to make the robbing permanent. Which they probably will, because they got away with it in the first place, right?
I admit that this is harder to memorize.
Moe Lane
PS: Another bit of elementary fiscal wisdom: It is absurd to think that you can transfer 1.8 billion in funding from things that generate wealth (business) to things that consume it (government) without it having an effect on the larger economy. I mention this because said wisdom has unaccountably eluded everybody defending this policy as being not being all that bad.
PPS: Hey, do you know that a top Californian state official – Lt. Governor John Garamendi – is actually within the reach of at least one CD’s worth of voters? He is, he is. If you live in CA-10, by all means: show your disapproval by voting for David Harmer on Tuesday.
Crossposted to Moe Lane.
Steve Maley
KnightsofMalta
This is yet another of their shell games
Neil Stevens (Diary) Sunday, November 1st at 9:57AM EST (link)Yeah, electing a ‘moderate’ Republican Governor helped so very much, didn’t it?
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This, ladies and gentlemen,
Neil Stevens (Diary) Sunday, November 1st at 9:58AM EST (link)This is why we have primaries. This is why we beat Scozzafava, and why it’s too bad we couldn’t have beaten Arnie in the exact same way back in the Recall.
If it’d been a Democrat in power now, we could hold them entirely accountable for this. Now we can’t.
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No better
SteveLA (Diary) Sunday, November 1st at 11:19AM EST (link)Neil
CA would have been in the same mess with or without the Girlyman Governator, it’s the Assembly that spends, and spends and spends some more. At best your guy would have vetoed a bunch of spending and the Assembly would have over-ridden most of his vetoes.
At worst, and most likely, Grey Man would have beaten the recall because your guy could not win any state wide election.
I’m raising my deductions to keep the state of CA from ripping me off more.
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Competency over ideological purity and litmus tests
Overridden most of the vetoes?
Neil Stevens (Diary) Sunday, November 1st at 11:25AM EST (link)How many of Arnie’s line item vetoes have they overridden?
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Don't know
SteveLA (Diary) Sunday, November 1st at 11:32AM EST (link)Neil
Better question is how many spending cuts has the Girlyman Governator actually made with his line item veto pen? I don’t really know, but the Girlyman is much more into going along to get along, so it’s not many.
You guy on the other hand never voted for any budget, ever, even relativity good ones. Tom was not noted as an effective legislator, well outside of his work on the Car Tax legislation.
So yes, your guy would a) been a disaster of a different kind, with no support in the Assembly and been run over by the Donks, and b) never have won the recall because he really has no support outside of the base in CA proven by his lack of winning any state wide election.
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Competency over ideological purity and litmus tests
You don't now?
Neil Stevens (Diary) Sunday, November 1st at 11:39AM EST (link)Then how are you so sure McClintock’s vetoes would have been overridden?
You know, it’s beyond funny how often you come here, peddle your assertions, and never ever have anything to back them up with.
Basically your whole argument is null and void until you can back it up.
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So your assertions
SteveLA (Diary) Sunday, November 1st at 11:50AM EST (link)Neil
So your assertions of Tom beating Arnie are based on what, wishful thinking?
Here are some facts which you probably don’t like ether.
Tom lost the recall to Arnie coming in third, even behind the Butcher of Fresno, Cruz Bustamante
Tom lost the Lt. Governor’s race to John Garamandi
Tom won the race for CA4 by 1800 votes, a real landslide over a Blue Dog Democrat Charlie Brown.
State wide elections count too. Tom McClintock may be the darling of your wing of the CA Republican party, but for the rest of Republicans in CA and the general electorate in the rest of the state, not so much.
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Competency over ideological purity and litmus tests
That's it, change the subject because you just got spanked
Neil Stevens (Diary) Sunday, November 1st at 11:53AM EST (link)We can wait.
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Arguing a Hypothetical ?
SteveLA (Diary) Sunday, November 1st at 12:01PM EST (link)Neil
OK, you win. I can’t argue a hypothetical straw man you created with “aand why it’s too bad we couldn’t have beaten Arnie in the exact same way back in the Recall”.
Tom McClintock lost the recall and all the other statewide elections he ran for, Arnie is the Governator and has done nothing to control spending by the Assembly, our taxes are being raised because of those facts. Those are not hypothetical things, and my pay check is going to be lighter next time I receive it, which is not a good thing.
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Competency over ideological purity and litmus tests
We can wait
Neil Stevens (Diary) Sunday, November 1st at 12:02PM EST (link)How many veto overrides?
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Ironically, This Doesn't Bother Me
IJB Sunday, November 1st at 11:22AM EST (link)The CA tax bill that’s due for me every April is outrageous anyway, so if withholding more now actually makes April bill smaller, I’m OK with it.
I get a refund...maybe
SteveLA (Diary) Sunday, November 1st at 11:40AM EST (link)IJB
I usually end up with a refund, tending to not keep the deductions high, a loan to the state in effect.
Come next year, how much you want to bet refunds are going to be delayed, paid with funny money or Girlyman Bucks? That’s when this new form of extortion from the state of CA is gong to bite.
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Competency over ideological purity and litmus tests
Money back eventually?
johnt Sunday, November 1st at 11:29AM EST (link)Like that temporary telephone tax levied during the Spanish American war ?
And there exist people who want more of this, called liberals I believe.
“a man’s admiration for absolute government is proportinate to the contempt he feels for those around him”. Tocqueville
At least on my ISP, Alaska Airlines is hustling flights to CA
Achance (Diary) Sunday, November 1st at 11:49AM EST (link)today. My wife’s mother and sisters live there and she’s always agitating to move there but so far I’ve held out.
In Vino Veritas
See any similarity to
bobojake (Diary) Sunday, November 1st at 12:26PM EST (link)obama spread the wealth elcrapo. It is time for change to save our Nation from the political hacks that never ran a business.
All you need to do is change your W-4 state withholdings
civil truth (Diary) Sunday, November 1st at 12:43PM EST (link)…if you want to keep your current withholding amounts.
The real game is with the estimated tax schedules.
The new tax schedules are designed to push more estimated taxes into the first half of calendar year 2010 (which puts them into the current fiscal year) by increasing the 4/15 and 6/15 percentages. The results is, if I recall, that the third payment is dropped and the last payment (which is due in 2011) is the balance.
The trick is that once in this schedule, the state cannot go back to a more normal system without paying the piper in that fiscal year, so we have the start into the direction of pushing collections earlier and earlier, a forced interest-free loan.
More budgeting chicanery.
The greatest evil…is conceived and ordered (moved, seconded, carried, and minuted) in clean, carpeted, warmed, and well-lighted offices, by quiet men with white collars and cut fingernails and smooth-shaven cheeks who do not need to raise their voice. Hence, naturally enough, my symbol for Hell is something like the bureaucracy of a police state or the offices of a thoroughly nasty business concern. -C.S. Lewis
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Does anyone believe that if this "temporary" measure 'works', it won't become permanent?
USNJIMRET (Diary) Sunday, November 1st at 12:45PM EST (link)AND something that other State Legislatures will look at as a quick ‘fix’ to their own inability to do simple math?
=>AND<= that the tax and spend liberals in Congress won’t be salivating over?
Really?
BTW, I don’t see this as a “loan”.
I NEVER see theft as a ‘loan’.
Put it on my VISA card
Vannek Sunday, November 1st at 1:44PM EST (link)“If California were an independent nation, it would be the sixth largest economy in the world. We can afford to be generous to those less fortunate. I’d rather have a bleeding heart than no heart at all.” I overhead this ersatz piece of wisdom while sitting in a cafe in Berkeley. This sums up nicely the attitude that liberals have toward government, in California and in DC. We’re the richest state, the richest nation on earth, and it’s our duty to open up our hearts and bleed into the streets. The bleeding heart philosopher then used a VISA card to pay for four Lattes. That’s liberal voodoo economics: put it on the credit card and worry about paying for it later. Your neighbor can’t afford to pay a mortgage? Buy it for him and put it on the credit card. The illegal amigo needs to have his MS 13 tatts removed? Have the best surgeon do the work and put it on the credit card. The bum on the street corner might rehabilitate himself if only you buy him an Armani suit and a BMW. Charge it to the credit card. Spend, spend, spend trying to fill up the emptiness inside. If we can’t pay? Well, we’ll declare bankruptcy and start again. It’s a pathology that I’m not certain has a cure. Unfortunately, these economics-challenged twits will take everyone else in the state down with them.