Sunday, November 01, 2009

Somewhere, Jon Corzine is Tugging His Beard...

...and remaining silent. But in the god-awful scenario in which he gets re-elected, he's just figured out away to close a bit of that ever-increasing budget gap that's he's created in New Jersey.

No, he's not cutting spending. Please. He just got an idea, that's all - from the failed state of California. In other words, ladies and gentlemen - lock up your wallet:

Starting Sunday, cash-strapped California will dig deeper into the pocketbooks of wage earners -- holding back 10% more than it already does in state income taxes just as the biggest shopping season of the year kicks into gear.

Technically, it's not a tax increase, even though it may feel like one when your next paycheck arrives. ...Think of it as a forced, interest-free loan: You'll be repaid any extra withholding in April. Those who would receive a refund anyway will receive a larger one, and those who owe taxes will owe less.

Gee, that makes me feel better. You'll take my money now, and promise to pay me back - with no additional compensation for the confiscation of my capital - in a few months. Isn't this the same state that handed out IOUs earlier this year precisely because they didn't have the money to pay the tax refunds they owed to individuals and businesses?

And being forced to give money, with the promise that it will be paid back "some day", to an enterprise that is habitually bankrupt and often criminal, on the punishment of personal harm (imprisonment) - isn't that called something else?

Ah, yes. Felony theft, I believe. Or racketeering. Maybe even felony extortion.

Don't think Corzine isn't taking notes in a state that is right behind California, and following it off a cliff...

No comments: