Kansas and California are both facing state budget deficits. California's is close to $50 billion. (See what happens when you take care of so many people who aren't citizens, Mr. Terminator?) Both state governments recently announced to their tax-weary citizens that, instead of mailing a check for any tax refunds this year, the citizens would instead get IOU's.

Since there are close to 40 states facing budget deficits this year, one can only wonder what the other 38 devious governors have up their collective sleeves.

For years, millions of taxpayers have had their paychecks "over-withheld" as a method of forced savings. Every tax year, they could count on a few hundred or thousand back in late March or April from their friendly state treasurer. Not any more. Of course, the governments in California and Kansas will not have to pay any interest or penalties on the money owed.

Maybe the federal government will decide not to send any money back to the forced savers. Instead Barrack Obama and his liberal friends can give you a credit on next year's taxes. What a great idea. This is change we can all believe in!

Taxpayers, beware. Anyone who continues to have too much money withheld is a fool.




It is better to owe taxes the next year then to get some stupid, potentially worthless,  IOU from a morally and financially bankrupt government.  Who knows, maybe the government will forgive you if you do not withhold enough taxes. (FAT CHANCE!)