They Say What Happens In CA Usually Spreads Eastward, So Get Ready -Tax Hike

[Aimeey7]

You know, my new home state has traditionally been in the vanguard so get ready back there, won't be long before your diligent elected officials get wind of this-- I'm suprised it hasn't made much news--
what they did was increase wage withholding accross the board by 10%- soallwage earners experinced a 10% reduction in take home pay

http://www.mymoneyblog.com/archives/2009/11/california-increases-income-tax-witholding-by-10.html

Of course you can "undo" it  but how many will know that and actually take the trouble?
Then, watch for them ( the state) to find a way to keep it 

[redcap]

Our wonderful governor is asking for a tax on tuition.

[pbal]

Actually, it was the tax that rose by 10%. Takehome decreased by .01%. Still too much.

Red, city of Pittsburgh is trying to do the same here.

[redcap]

Maybe a tax on sex is next.

[Aimeey7]

Actually, it was the tax that rose by 10%. Takehome decreased by .01%. Still too much.

Red, city of Pittsburgh is trying to do the same here.

Are you sure we're talking about the same thing? In CA, that's just it, they did not raise the tax, only the withholding-- which means they will have  to refund it unless they figure out a way to keep it, which only adds to the deficit.

"California has come up with another “creative” way to get some money from its residents. First, I had to figure out how to redeem my California IOU. Now starting back on November 1st, the state increased the income tax withholding on regular wages by 10%. There is no actual accompanying tax increase, they are just looking for an interest-free loan from now to when you file your income taxes. "

[redcap]

Come to think of it, at my age, why not? 

[Aimeey7]

Maybe a tax on sex is next.

Well, that's some solace, a tax that won't affect me too much.

[Wiener]

According to the break down of the current House bill that was passed, the taxes on the persons whom pay 90% of the taxes already in this nation will go from the current 35% to 45%, that is just the Federal Taxes, that doesn't include state.   Some of you might want to quit those high paying jobs so you don't have to lose over half your hard work to Uncle Sams current longest running Ponzi scheme.

[RobinQuillonsHair]

Even if those taxes increase as such most of those people will still have far more money than those who pay little or no tax.

For example, Wall Street is expecting to pay out record bonuses in 2009.

LeBron James will be a free agent in 2010.

Attorneys are still charging $200+ per hour.

[John Galt]

Posted by: RobinQuillonsHair 

Even if those taxes increase as such most of those people will still have far more money than those who pay little or no tax

You tell 'em Robin! From each according to his abilty, to each according to his need! 

[RobinQuillonsHair]

Overpaying for "ability" only creates more need.

[Wiener]

Overpaying for "ability" only creates more need.

When that same ability is held by more people than jobs to fill how do we fix that?   I think a duel to the death would be good fix two of this admins problems at once.

[Aimeey7]

You tell 'em Robin! From each according to his abilty, to each according to his need! 

You know.................... .....
ahh forget it, I'm not even going to bother
You ever take an Economics course?

[Aimeey7]

Even if those taxes increase as such most of those people will still have far more money than those who pay little or no tax.

For example, Wall Street is expecting to pay out record bonuses in 2009.

LeBron James will be a free agent in 2010.

Attorneys are still charging $200+ per hour.

Well, let's consider my topic here-- in CA, ALL wage earners suddenly lost 10% of their take home pay. $200.00 per hour lawyers did not, as they are not paid by wages.
The bulk of the taxes come from the middle class. Its the demographics. Tax the rich sounds great, problem is there just aren't enough of them in the grand scheme to fund government to the degree the libs would like, even if you took 95% from them.

[bleyeskaren]

It was always my understanding that all things from marketing to taxing trends actually begin in the Northeast and go across the top of the United States to other side and then come back along bottom to the South..  will try to locate this information tomorrow.