California Withholding Billions From Workers

" Don't talk about TV politicians but it California it's not just a metaphor anymore if you live in California you're going to see an extra 10%. Taken out taken away by the state -- your next paycheck without so much as a referendum politicians. Decided to borrow and I put that in quotes about two billion dollars. By this neat trick a forest. Interest free loan. Which is supposed to be paid back in April that not all Californians are rolling -- tax fudge. Some folks are looking for a way to fight back including Orange County treasurer and tax collector -- street. He joins us from Irvine California. So what was this all amounts. Well this was done in the dead of night in the last budget deal. In California we're big on government -- gimmick. Government I gimmick but. I mean this is I'm a former favorite people will look. At their paycheck and say what that happened why did I suddenly gets seventeen dollars or 24 dollars less. We'll get David you got to understand that California. Now has the same credit rating as Botswana. Slovakia and the ever popular Trinidad and embargo our politicians are desperate. For this money this is rolling their narcotic. Let -- let me just put it in in context was of -- specific numbers you're a single taxpayer were no dependents earning 51000. Dollars. Will be charged an extra seventeen dollars 59 cents a month. A married wager -- two dependents earning 90000 dollars a nice income but not unusual in California would see. 24 dollars and 87 cents. Less every month now. You know -- may not sound a lot by millionaires standards but this cuts into how much you. By at the store how much you're you pay for Christmas presents for example -- sort of think. This could hurt the economy. Well David our economy just horrible and California are tax revenues dropped by 30%. You know it's like that to the toothpaste when you keep squeezing. On this tax number eventually it's quite tell decide what's happened is our rich. And orange rural businesses are moving we've got an odds on TV inviting them to come that. Nevada and Texas while must be pretty tempting particularly since Texas has zero income tax is anybody. Talking about lowering that tax. Taxable income lowering the amount of money that government takes and spends on all of its project. What economics words that doesn't always work quickly but this problem's been built up over fifteen years we have incredible success in California. We got used to this good life and our politicians. -- used to spend and they just can't get off. That effort the politicians got used to spending in this special special interest become entrenched. They hang on for dear life is anybody going line by line through the budget insane. Wait a minute this special interest is getting far too -- we can cut him out of the picture."

" the revolt -- happening in California -- the first state to initiate a prop thirteen which controls are. Property taxes. You know we we. In. The withdrawing our former governor. Davis. And -- recently there was a tax increase put on the ballot. And that failed miserably of the public felt there really enraged here and you're going to see this and the elections coming up next here California leads the nation. And it's going to lead the nation in this taxable. To where we remember -- I remember Howard Jarvis who really started detector -- nationwide back in the late seventies but. He do you have a particular leader around nuclear organizer or an issue or referendum. -- I think people get confused I heard your program before they're looking for this magic leader that the magic leader doesn't leave the times that times. Bring in a leader we're going to see people who. You know come from a the other from a private sector come from education other areas are going to get involved in politics for the first time. And they're going to bring the new ideas are not really controlled by the special interest. Those people are now coming to before. And I think as we get closer to these real big problems in California. Twelve months from now we could be talking about federal receivership. For the state of California. These numbers are desperate and politicians do not want to accept the responsibility. To cut taxes. And that's what really have to take place you know the real sense of desperation knows just taking it out of a paycheck I mean that -- that is so interest and that's as close as a politician comes to reaching into my pocket and taking money out. Every single paycheck. It's just shows you the politicians are so desperate they have to make this personal and the average mom and dad. In the family in California rolling out of this the seventeen dollars or whatever you know that means real issues. For the children for the families I think it's going to be -- not well received by the taxpayers Chris street Orange County treasurer thank you very much for being here Chris good to see yet -- to."