Pack93z
  • Pack93z
  • Select Member Topic Starter
14 years ago
And the folks on Wall Street are wondering why consumer confidence plummeted in February.. I think this country is getting closer to a "break" point than anyone is willing to admit.

http://articles.moneycentral.msn.com/Taxes/blog/page.aspx?post=1651432>1=33009 


States are holding on to your refunds
Financially strapped states are keeping your money longer to solve cash-flow problems.
Posted by Kay Bell on Tuesday, February 23, 2010 10:45 AM

Remember when everyone was snickering at California for issuing IOUs instead of tax refunds?

Quit laughing. More financially strapped states are holding onto their residents' tax refunds longer.

North Carolina's Revenue Secretary Kenneth Lay has announced that his office is delaying refund checks that both individuals and businesses are due. Holding on to the money is a cash-flow necessity, Lay said, because the state is facing a shortfall due to "anemic" collections, a common problem across the United States.

The Hawaii Department of Taxation, which already has up to 90 days before it has to send out checks to taxpayers, says that come July 1 it will release refunds on a "first-in-first-out basis." Delaying refunds will give the Aloha State a one-time savings of $275 million.

In New York, one of Gov. David Paterson's budget proposals could put taxpayers' refunds on hold to help deal with the Empire State's budget deficit. The proposal, which could delay some refunds for weeks or even months, is projected to provide short-term savings of $500 million.

What's a taxpayer to do aside from freak out? Right now, not much.
But if you are one of the taxpayers who will be waiting a while for your state refund, or even if your state was able to pay your tax cash in a timely manner, you might want to reconsider even being put in this situation.

Adjust your withholding now (at the federal level, too) so that you'll get your tax money throughout this year. In fact, see if you can fix it so that you'll owe your state tax collector a few dollars instead of the other way around.

That way it will be the tax department waiting on you in 2011.


"The oranges are dry; the apples are mealy; and the papayas... I don't know what's going on with the papayas!"
vikesrule
14 years ago
Which coupled with this bullshit again really pisses me off. I say shoot the assholes...... :xcensoredx:

Greedy Wall Street assholes that haven't learned a damn thing....shoot em' all 

Tuesday, February 23, 2010
NEW YORK CITY (AP) -- Wall Street bonuses were up 17 percent to over $20 billion in 2009, the year taxpayers bailed out the financial sector after its meltdown, New York state Comptroller Thomas DiNapoli said Tuesday.

Total compensation at the largest securities firms grew beyond that figure and profits could surpass what he calls an unprecedented $55 billion last year, DiNapoli said. That's nearly three times Wall Street's record increase, a rate of growth that is boosted in part by the record losses in 2008 of nearly $43 billion, the Democrat said.

"Wall Street is vital to New York's economy, and the dollars generated by the industry help the state's bottom line," said DiNapoli. "But for most Americans, these huge bonuses are a bitter pill and hard to comprehend. ... Taxpayers bailed them out, and now they're back making money while many New York families are still struggling to make ends meet."..........
Pack93z
  • Pack93z
  • Select Member Topic Starter
14 years ago
If this country is going to sustain a long and vibrant existence.. change is going to have to happen in the financial, health care and governmental sectors of this country.

The average Joe starting out today... in which he sets a proper budget for his lifestyle and means.. is getting repeatedly kicked by record increases in all facets around him or the family...

Rising Health Care costs.

Rising Energy costs

Skyrocketing interest on short term debts..

And the trickle down effect of all the other rising costs associated to the two above..

The American dream is slowly dying.. or in some cases buried already six feet in the ground.

Sooner or later.... those Average Joe's are going to wake up and fight back.. either with the dollar or with force. The imbalance between Average Joe and high profile crook is growing too rapidly to continue..

And now the bastards in the state governments are holding onto "our" personal money longer to assist their bottom line and decrease our earning potential of either investing the refund or dropping into savings.

Just another kick..
"The oranges are dry; the apples are mealy; and the papayas... I don't know what's going on with the papayas!"
DakotaT
14 years ago

Which coupled with this bullshit again really pisses me off. I say shoot the assholes...... :xcensoredx:

Greedy Wall Street assholes that haven't learned a damn thing....shoot em' all 

Tuesday, February 23, 2010
NEW YORK CITY (AP) -- Wall Street bonuses were up 17 percent to over $20 billion in 2009, the year taxpayers bailed out the financial sector after its meltdown, New York state Comptroller Thomas DiNapoli said Tuesday.

Total compensation at the largest securities firms grew beyond that figure and profits could surpass what he calls an unprecedented $55 billion last year, DiNapoli said. That's nearly three times Wall Street's record increase, a rate of growth that is boosted in part by the record losses in 2008 of nearly $43 billion, the Democrat said.

"Wall Street is vital to New York's economy, and the dollars generated by the industry help the state's bottom line," said DiNapoli. "But for most Americans, these huge bonuses are a bitter pill and hard to comprehend. ... Taxpayers bailed them out, and now they're back making money while many New York families are still struggling to make ends meet."..........

"vikesrule" wrote:




I'm overwhelmed that you changed your signature in my honor. They call that stalking by the way. The good news is that the state of North Dakota will be issuing their refund promptly as usual. We also gave around a 30% property tax cut this year. Maybe the extra revenue comes from Minnesota poachers, I mean hunters.

Be nice VR, and you too Formo.
UserPostedImage
rabidgopher04
14 years ago
Minnesota's property tax refund is definitely later this year than in the past.
Amazing Bacon Delivery  Service! Never be without good bacon again.
Formo
14 years ago
I'm not worried about our state taxes.. I'm pissed off at our Federal. We have to pay in this year. Well, the past 3 years we've had to pay in, but the prior 2 years, I was a subcontractor, so I expected and planned for it.

This year was a kick in the nuts. I was and still am pretty perturbed. We'll have to pay in more for 2009 than we had to the prior two years combined. And all throughout 2009 neither one of us were subcontractors. I did not plan for this, so now we are pretty much left hanging out to dry.
UserPostedImage
Thanks to TheViking88 for the sig!!
Cheesey
14 years ago
That's why Wisconsin is a good place to live. They already take SOOO much of our money, that the pittance they might send back to us isn't a big deal for them.
"Hey....we took 20% of your earnings! Here's $5 back for ya! Now you can go to "Subway"!"
UserPostedImage
DakotaT
14 years ago

I'm not worried about our state taxes.. I'm pissed off at our Federal. We have to pay in this year. Well, the past 3 years we've had to pay in, but the prior 2 years, I was a subcontractor, so I expected and planned for it.

This year was a kick in the nuts. I was and still am pretty perturbed. We'll have to pay in more for 2009 than we had to the prior two years combined. And all throughout 2009 neither one of us were subcontractors. I did not plan for this, so now we are pretty much left hanging out to dry.

"Formo" wrote:




Sounds like you should be mad at yourself for poor forecasting of your income. I have to pay in big time this year for my part time self employment gig. But if you aren't paying in, you aren't making enough money.

As for Minnesota and Wisconsin taxes, quit voting in communists to run your governments
UserPostedImage
Rockmolder
14 years ago

I'm not worried about our state taxes.. I'm pissed off at our Federal. We have to pay in this year. Well, the past 3 years we've had to pay in, but the prior 2 years, I was a subcontractor, so I expected and planned for it.

This year was a kick in the nuts. I was and still am pretty perturbed. We'll have to pay in more for 2009 than we had to the prior two years combined. And all throughout 2009 neither one of us were subcontractors. I did not plan for this, so now we are pretty much left hanging out to dry.

"DakotaT" wrote:




Sounds like you should be mad at yourself for poor forecasting of your income. I have to pay in big time this year for my part time self employment gig. But if you aren't paying in, you aren't making enough money.

As for Minnesota and Wisconsin taxes, quit voting in communists to run your governments

"Formo" wrote:



Formo can't help himself. He's just in love with communism.
Cheesey
14 years ago
Dakota.....i didn't vote for the bums.
It's a situation where you can only do so much, and if the "majority" is a bunch of idiots, you end up paying for who THEY voted for.
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