I wish the future generations of this state good luck…
In the new version of the budget, Mr. Schwarzenegger, a Republican, has won restrictions on lawmakers’ access to the state’s rainy-day fund and elimination of a plan to raise $1.6 billion by increasing tax withholdings from Californians’ paychecks. A proposed tax amnesty program is also now off the table. Lawmakers did not raise the sales tax.
Instead, according to a spokeswoman for the Senate president pro tem, Don Perata, a Democrat, lawmakers will increase penalties on corporations that understate their taxes by $1 million or more to 20 percent of their earnings, from 10 percent.
The budget also pushes many of the state’s shortfalls into the coming years with a variety of budget maneuvers that includes lowering the amount of the state’s reserve fund to $800 million from $1.2 billion.“At this
point it appears that there is an agreement,” said Matt David, the
governor’s communication director. Referring to the leaders of both
parties from the Assembly and Senate, Mr. David said, “We will confirm
it after they meet tomorrow morning.”
That’s a plan, let’s increase withholding of State Taxes and if you overpay we’ll give you IOU’s instead of returning your cash to you.
California - The State where we’ll stick it to you where the sun doesn’t shine
I’m so sick of incompetent public officials. It’s disgusting how those in charge of screwing things up are now in control of solving the problem. Some things never change, do they?
That’s a plan, let’s increase withholding of State Taxes and if you overpay we’ll give you IOU’s instead of returning your cash to you.
California - The State where we’ll stick it to you where the sun doesn’t shine
I’m so sick of incompetent public officials. It’s disgusting how those in charge of screwing things up are now in control of solving the problem. Some things never change, do they?
but but but we have an agreement. Isn’t that all that matters?
I think first we should have to pay for that out of control budget deficit…I just don’t understand how idiotic they were for increasing their spending so much given that the bubble economy brought in so much more tax revenue. How can you f$ck things up like that. Schwarzenegger had it made for him, he came in during the best time when revenue just kept coming in, he could have cleaned up and be the “hero” now, but instead he joined Team Girly Men…
