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California nearly bankrupt

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Old Jan 16, 2009 | 12:07 PM
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Default California nearly bankrupt

http://apnews.myway.com/article/20090116/D95OF36O0.html

So if that's the case, does that mean the Californians can hold back on paying taxes? After all, they're not getting their money back so why should the state get theirs? Can the people choose to delay paying taxes for 30 days as well?

Kind of a funny thought, I know, but wondering how it works if the state owes you money and potentially might not pay you for a lot longer than 30 days as things get worse? Seems like you would have a logical (if not legal) precedent to withhold paying taxes if they're withholding your tax refund.

I guess people could just adjust their tax withdrawals with their employer to effectively keep them from paying any taxes, which would be legal (to a point) in the short term.

Thoughts?
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Old Jan 16, 2009 | 12:28 PM
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here's to living in a state with no state income tax
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Old Jan 16, 2009 | 12:30 PM
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We had a talk about his in the Bay Area Forums. And someone came to the conclusion (forgot who it was) that the government lives to be hypocritical. So no, we don't get to delay paying taxes. They're due when they're due .

Though, I suppose you could finish them now, and not pay 'till the due date in April, meaning you're waiting 3 months .
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Old Jan 16, 2009 | 12:31 PM
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Originally Posted by senor_flojo' date='Jan 16 2009, 02:28 PM
here's to living in a state with no state income tax
Does the lack of income tax mean more property tax? I know that's how it is in Oregon.

BTW, off topic, flojo: I still have the bass and I think it's like 20-25 to ship. Dunno if you saw my reply in the "free stuff" thread.
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Old Jan 16, 2009 | 12:46 PM
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So the state of CA is bankrupt and the U.S. is something like $3Trillion on debt. Both are run by Republicans. Hmm...

Warren
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Old Jan 16, 2009 | 12:51 PM
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Originally Posted by espelirS2K' date='Jan 16 2009, 01:31 PM
Does the lack of income tax mean more property tax? I know that's how it is in Oregon.
yeah, it gets spread to property and sales tax. but it makes april 14th half as difficult.
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Old Jan 16, 2009 | 12:54 PM
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If they're late paying tax refunds can we penalize them overdue fees? One year I was late paying my taxes and the government tacked on so many penalties and late fees I ended up paying twice the amount I originally owed.
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Old Jan 16, 2009 | 01:01 PM
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The Governator is no dyed-in-the-wool Republican. He's another breed, just ask his wife!
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Old Jan 16, 2009 | 01:04 PM
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I hate this stupid state. I can't wait to GTFO in June!
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Old Jan 16, 2009 | 04:17 PM
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Originally Posted by WarrenW' date='Jan 16 2009, 01:46 PM
So the state of CA is bankrupt and the U.S. is something like $3Trillion on debt. Both are run by Republicans. Hmm...

Warren
the Governator is barely Republican, and the state assembly has a Democrat majority....
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