CA Tax Refunds to be Delayed...

My husband and I have never relied on tax refunds. I know many people that get so excited each year when they open that big refund check from the government. I have gotten blue in the face trying to explain to them that it is not a "check from the government", but rather the government paying them back the money that they themselves loaned Uncle Sam.

If you get a tax refund check, it means that you had too much money withheld from your paychecks throughout the previous year. That's money that you earned, the government borrowed, and then gave back to you, without the benefit of even the slightest bit of interest. Tell me, have you ever borrowed money from someone without having to pay it back with interest? Ok, maybe your parents...

California has been spending taxpayer money like it's controlled by zealous liberals (oh wait, it is!) for years, and now we can no longer borrow the money from special funds or Wall Street investors due to the current credit crunch. State Controller John Chiang has decided that the best way to make up some of the $41.6 billion deficit is to deny repayment of the interest-free loans that California citizens so generously, or unwittingly, provided.

It's a good thing that I wasn't looking forward to that repayment check! I urge everyone that got a large refund on their taxes last year to take a look at their withholding status, and make sure that they are getting paid the money that they earned and are owed with each paycheck.