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Old 01-16-2009
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Default California withholds tax refunds



California withholds tax refunds

Cash-strapped state says those who overpaid in 2008 are out of luck, while other checks will be held for 30 days as it tries to ward off bankruptcy.

January 16, 2009: 2:01 PM ET


SAN FRANCISCO (Reuters) -- California will not pay tax refunds for individuals and business that overpaid 2008 taxes, in order to conserve dwindling cash for priority payments including school spending and debt repayment required by state law, the state's controller office said Friday.
Other state checks to be postponed for 30 days include payments for vendors who provide services and products to the state government and state checks to a million aged, blind and disabled Californians to cover rent and utilities bills, State Controller John Chiang's office said in a statement.
Various state officials have been warning in recent weeks that the most populous U.S. state's coffers would run dry if Gov. Arnold Schwarzenegger and lawmakers fail to balance the state's current budget. The governor in his state of the state speech Thursday said California faces insolvency within weeks if it does not balance its books.
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Old 01-17-2009
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very sad they cant pull their head out of their ass..
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Old 01-17-2009
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^^^No shit with all the bailouts going on for big companies, now they are going to screw everyone out of their hard earned money.
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Old 01-17-2009
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Thats pretty sad, but I am glad that I dont live in California.
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Old 01-17-2009
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they still dont get that working class americans like ourselves is what keeps this place turnig...
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Old 01-17-2009
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This is what you get when the whole freakin state is controlled by democrats.

And it's where the rest of the US is headed now as well.
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Old 01-17-2009
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This is what you get when the whole freakin state is controlled by democrats.

And it's where the rest of the US is headed now as well.
isnt arnold a republican ??


but rep. or not he has lost an 8 billion dollar surplus from when he took office and is now in a deficit
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Old 01-18-2009
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Yes, Arnold is republican. He doesn't fit the bill of a 'right-winger' but still is a rep.


Terrible job someone has done there.
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Old 01-18-2009
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isnt arnold a republican ??


but rep. or not he has lost an 8 billion dollar surplus from when he took office and is now in a deficit
There was no surplus when he took office. California has been running in debt since Gray Davis was govenor and yes, Cali is a democrat run state. Arnold can't get anything done.
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