Sunday, December 13, 2009

Repeal California's Additional 10% Witholding Tax

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There is a petition, for those of you who live in California, and are interested, to ask Sacramento to undo the mischief they have caused by instituting an additional 10% withholding from the paychecks of every Californian. Aside from the questionable morality of requiring every working citizen to provide the state with a tax free loan, there is the question of what this will do to the economy when people have less take home pay to spend or pay their bills, and how much further this will put some in debt, as it gives them less money to pay down the loans they have agreed to, which do charge interest.

The additional withholding is bad policy, brought about by the California legislature's inability to live within their means. There is a state constitutional requirement that the budget is balanced every year, but the foxes guarding the henhouse in Sacramento seem to be able to find more and more creative ways around that every year.

The petition is here.

H/T Cao's Blog

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