Just one taxpayer


California extorts it's way to "solvency" and no one questions if too much is being spent
I'm sure this will be celebrated as some sort of government fiscal miracle.

If the answer to either of these questions is yes, then consolation can be found in California, where a mysterious “Taxpayer X” has just come clean about his income and handed over $200 million in unpaid taxes — almost single-handedly eliminating the revenue shortfall of the state.

The tax payment is so large that it would pay the annual budget of California’s National Guard three times over. And it will close the gap between the state’s projected and actual revenues from $250 million to $47 million. This will put the finances of Arnold Schwarzenegger, the State Governor, back on track — a New Year gift to compensate perhaps for the leg that he broke while skiing during the holidays.

Imagine that. In a state with a budget in the billions, 200 million is a "revenue shortfall."

Not overspending.

The solution to the cashflow problem was to send out the taxman.

I don't know who Taxpayer X is, and it shouldn't matter.

If a private business spent more than it took in, the creditors would foreclose. But a government can get away with it because they can always shake down the taxpayer.

— NeoWayland

Posted: Sat - December 30, 2006 at 06:10 PM  Tag


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