Wednesday, December 9, 2009

Up in Arms, Pt. 2

No more IOU's from the State of California. Do you remember how they were issuing state income tax returns in the form of IOU's? Well, now that you are able to redeem those, in a limited way, they have thought up a new way to take everyone's money.

As of November 1st, employers are required to hold out an additional 10% from employee's income. Not to worry, the money will be repaid in April. Somehow.

Arizona is on the list of States that are in California-like financial straits . Unlike California, Arizona is furiously working to cut spending.

Although, one wonders why we are in serious financial straits if we were spending considerably less (even in inflation adjusted income) 15 or 20 years ago and the state was still functional. What is it that government does today that costs so much more than it ever did in the past?

1 comment:

mrs.fpf said...

I hate it!