California to issue IOU's
By bobmnu
@bobmnu (8157)
United States
July 2, 2009 10:28am CST
In what some say is a foreshadow of what our nation could face California could soon start issuing IOU's to pay it bills. The problem lies with the Legislature which can not agree on tax increases and budget cuts. One side sees tax increases as the answer and the other see budgets cuts and cutting the size of government. In a state that is trying to be all things to all people and asking a smaller and smaller group of people to shoulder the expense while providing more and more to the people who pay nothing. Like New York and other high tax states, California is seeing an increase in people dependent on the government to survive and the people who pay the bills moving out.
What do you think California should do?
1 person likes this
3 responses
@bobmnu (8157)
• United States
19 Jul 09
Maybe you have to cut government programs. Tell the government to live with what they have and make the ligslature a part time with a smaller salary and NO EXTRA BENIFITS and no per deim beyound what the IRS allows.
In my state some of the elected officals make more than twice their salary in per deim and expense payments. ONe State Senator was paid for mileage - an average of 350 miles a day 7 days a week while the Senate is in session.
@ShellyB (5241)
• United States
19 Jul 09
Senators are finding loopholes to get money, adorable, I am not sure what we still can do, I feel that our State is generating money in many ways and it is not showing, we are one the States right now to pay the most taxes, however a little while ago we were arguing over a 50,000 dollar lunch for the cops that were patroling Michael Jackon's Memorial when this was a good thing for the city in terms of people come from different parts of the country and world, and I am sure they were spending money.
@Destiny007 (5805)
• United States
2 Jul 09
The first thing they should do is get rid of the unions.
Then they should cut all unnecessary programs and fire all nonessential state employees.
They also need to stop spending any money in support of illegal aliens who are a big drain on state resources.
They need to cut spending to the bone and cut taxes in order to draw employers back into the state.
California, New York, and a few others are perfect examples of the failure of socialism and a look at what the future holds for America if 0bozo and his communist buddies in Congress succeed in their bid for socializing America.
@bobmnu (8157)
• United States
2 Jul 09
Some how the people do not make the connection. Many people view their pay checks as their income and if they get a refund that is a bonus. FDR Came up with the ideas of withholding to make it easier on the people who had to save and pay quarterly taxes. He reportedly told one of his people that with this way you could raise taxes and the people would see only a nickle or dime decrease in their pay check and would not notice it. A nickle a week increase in taxes would generate $2.6 million for every 1 million workers a year. Steal your money a penny at a time and you won't notice it. This is what happened in California they ahve so many different taxes and fees that people do not notice it until things come to a boil. Now they have to make hard decisions.
@rsa101 (37969)
• Philippines
3 Jul 09
That is indeed a very frightening scenario. I am not from your country but I am just astounded by what is happening to your state in particular. I have seen California as a very strong state before all of this thing started happening. I am saddened as I have many relatives there living there. I have never imagined your state from being the first states that succumb from the economic depression.
