California's forced tax payer loan
November 02 2009 by 
David R. McGraw II
Source: http://www.latimes.com/business/la-fi-state-tax31-2009oct31,0,2028140.story
Starting this Sunday, California will begin withholding up to an additional 10% of workers pay as a stop gap solution to their continuing budgetary shortfalls. The LA Times reports this isn't a tax increase as the tax payer will get their money back when they go to file their tax returns, as the LA times notes this is a forced, interest free loan from the tax payer to the state.
This is vitally concerning as a case for the loss of liberty, and property rights in times of need determined by the state. When the government needs your hard work, they just take it, when you just need to feed your family and you just take it, you go to prison for many years.
This amounts to nothing but widespread legal confiscation of Californians hard work, left with a promise to give it back.
What I ask is, where will this money come from once the state claims and spends it? 10% less money in the hands of the people sure doesn’t help the spur on a spending spree to save the economy. Looming on the horizon is the ever pivotal holiday season, with rumors of an improving economy; this couldn’t have come at a worst time.
Good luck to those barely making it, your state just made it 10% harder on you.
Posted in Property Rights | Economy | 
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