As a Californian, this is making my day this morning. I can’t believe being taxed in 5 new ways. . .including being taxed if you owe the state taxes? What does that mean? So people like me who change withholding to not get “refunds” are punished?
Maybe they realize people are changing withholding to avoid refunds since the refunds are now “IOUs.”
Good thing I don’t buy new cars (and never will); 2 of the 5 new taxes directly hurt people who buy new cars.
Olivia,
I think the income tax proposal is to take your annual income tax bill and multiply it by 1.05 or 1.025, depending on whether the state gets enough federal funding in Porkulus. It has nothing to do with how much you owe when you file taxes.
That would be the un-stimulus bill for the auto industry, huh? Can anyone tell me who died and left the Democrats in charge of our economy?