Posts
The article talks of how several states are holding out on sending refunds in order to keep the money on their books until their next fiscal year starts (most are in early summer). This goes along with the money crunch we've been hearing about local and state governments having and it makes sense for these states to do this, but its with the unfortunate side effect of hurting the taxpayers who badly need the money. Thoughts?
Subscribe to:
Post Comments (Atom)
It is worrisome that it's taking these governments to pay the taxpayers money that is rightfully theirs. Maybe it speaks more to the fact that the states are already working at capacity and don't have the manpower to process these returns than the fact that these states are cashstrapped since the tax refund money isn't theirs to begin with. However, I see this situation as foreshadowing for inevitable tax increases in the near future. If a government has to balance its accounts everyweek to make sure it has enough money to scrape by than it needs more revenue and that comes from taxes.
ReplyDeleteIt is an interesting strategy but that is exactly what it is, a political strategy. It doesn't solve the States problems are having it just pushes off tomorrow what can't be dealt with today.
ReplyDelete