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Thursday
Feb212013

What Goes Up Must Come Down

This is what I get for stalling.

http://www.breitbart.com/Big-Government/2013/02/20/California-5-Billion-Windfall-Declared-Accounting-Anomaly

I used to use the California income tax as an example of the guaranteed roller coaster ride an income tax provides a state revenue stream.

CNHT has a big chart someplace in the office we would prop up at workshops.

For a few weeks I have planned to write about how in April of 2013 California will see that roller coaster speed by with its wheels greased back in November by 2012’s tax increases on the wealthy.

“Wealthy” is a progressive word for anyone with a weekly paycheck.

But before I could launch – bam - out comes Breitbart with a story regarding California finding people still holding on to some money – and who have  brains (not always found in combination) paid taxes early to take advantage of deductions for federal taxes as well as California’s.

If you are not George Soros and able to scam foreign currency markets with your uncountable wealth then paying taxes early and not getting hit again with higher later is a good deal. It’s a peon loophole.

How unpatriotic of early taxpayers to leave Governor Jerry Brown out on that income tax roller coaster with his bald head and white knuckles – the word knucklehead comes to mind.

Well, so much for being a state income tax savant by guessing the inevitable.

 

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