4 ms·
Think of it as a forced, interest-free loan: You'll be repaid any extra withholding in April. Yeah, sure. They are already paying their debts with IOU's. The
by fnid 17y ago
Think of it as a forced, interest-free loan: You'll be repaid any extra withholding in April.
Yeah, sure. They are already paying their debts with IOU's. They didn't pay people's refunds last year, was it? This seems pretty wrong to me.
Are they going to repay it with another loan? Who is going to loan them money? The only way out of the debt spiral is to stop spending, not taking on more debt.
- slpsys 17y agoThey gave IOUs for refunds, then paid them fairly quickly. I filed mine electronically on April 10th or so, and received my refund within a few weeks--it's not like they just didn't pay. I don't disagree on the whole, though.
- bwhite 17y ago+1 Tax filings start in a couple months, the deadline is just about 5 months away. At best this is just a very temporary stopgap. If they can't cut the budget now and can't float a bond issue now what makes them think they'll be able to do so then? "Forced, interest-free loan" is Orwellian. It's theft. Setting aside any moral considerations surrounding taxes, these words are the semantic equivalent of CA saying "We're taking your money now, like it or not, and hopefully we'll repay it in a few months." It's not a tax, it's not a fee, it's stealing and it's easy because of the whole notion of withholding. To stand against it would require that both employer and employee perform simultaneous disobedience that is sure to bring the wrath of the IRS. If we really want to see rage against taxation we'd eliminate withholding and all taxes would be rolled into a single lump sum that the taxed would have to pay the week before election day.
- thwarted 17y agoHow long before the state IRS auditors need to start, and then stop, accepting IOUs as payment for their work?