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States may hold onto tax refunds for months

Erod

Erod

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States may hold onto tax refunds for months - USATODAY.com

By William M. Welch, USA TODAY
Residents eager to get their state tax refunds may have a long wait this year: The recession has tied up cash and caused officials in half a dozen states to consider freezing refunds, in one case for as long as five months.
States from New York to Hawaii that have been hard-hit by the economic downturn say they have either delayed refunds or are considering doing so because of budget shortfalls.

"It's an indicator of how bad it is," says Scott Pattison, executive director of the National Association of State Budget Officers. "You know things are bad when you have to do that."

New York, hit with a $9 billion deficit, may delay $500 million in refunds to keep the state from running out of cash, says Gov. David Paterson.
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This is the result of big state government. Still want to hand 17 percent of the economy to Washington?

Meanwhile, here in Texas, our economy is humming, our unemployment is down, and our budget is balanced.
 
Erod said:
Meanwhile, here in Texas, our economy is humming, our unemployment is down, and our budget is balanced.
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Yeah, because instead of pouring your money into Washington, you're pouring your money for cheap manufacturing into Mexico, where people either work for cents what they can make dollars for in the U.S. or make a crapload more working for the drug cartels that really run the place and hope they survive the violence long enough to live past the age of 30. Way to brag there.
 
samsmart said:
Yeah, because instead of pouring your money into Washington, you're pouring your money for cheap manufacturing into Mexico, where people either work for cents what they can make dollars for in the U.S. or make a crapload more working for the drug cartels that really run the place and hope they survive the violence long enough to live past the age of 30. Way to brag there.
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Uh.....ok. :rofl
 
Refunds are so common place, these days - which is part of the problem. If you qualify for a refund you're really loaning the state/government your money with the non-contractual agreement that they will pay you back.

Which is stupid.
 
NY decided to conduct "additional processing" on my refund, which they said will take an extra 60 days. I'm sure that's not at all being influenced by this. :doh
 
jujuman13 said:
For this year perhaps for next year not a snowballs chance in hell will it be balanced.
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Texas' budget is always balanced. And we don't even have a state tax.
 
My state refund check the last two years was $14. They can keep it.
 
Erod said:
This is the result of big state government. Still want to hand 17 percent of the economy to Washington?
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17% -- how's that going to happen, prey tell?

Meanwhile, here in Texas, our economy is humming, our unemployment is down, and our budget is balanced.
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There is no State personal income tax in Texas... You live there, you should probably know that. If you're waiting for your state tax refund, it's gonna be a while...
 
hazlnut said:
17% -- how's that going to happen, prey tell?



There is no State personal income tax in Texas... You live there, you should probably know that. If you're waiting for your state tax refund, it's gonna be a while...
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17% is 1/6th of the economy = healthcare.

Imagine that. No state tax, and yet we still have a surplus of funds in Texas.
 
Everybody should claim 10 deductions on their state form so no taxes are taken out then put it an interest bearing account and pay it in April.

Don't give a no interest loan to the state with your hard earned money.
 
Erod said:
Meanwhile, here in Texas, our economy is humming, our unemployment is down, and our budget is balanced.
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Some county and city agencies are facing layoffs in wake of budget shortfalls.

Texas may not have a state income tax, but it does have one of the highest state sales tax rates.

Read up on the structural deficit and thanks to the feds for bailing them out.
Unfortunately, Texas is a low-tax state with a structural deficit. In 2006, the state made its structural deficit worse by pledging to pay for a local school property tax cut. The "hole" or uncovered cost of that tax cut is now almost $10 billion per biennium. To add to the state's woes, just before the legislative session began in 2009, the country went into a severe economic recession that substantially reduced state tax revenues. Fortunately, the federal government stepped in with Recovery Act funding.

Building Texas: The 2010-2011 State Budget
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Billions of dollars in federal economic stimulus money let lawmakers traipse past tough decisions. But a similar federal bump isn't likely in 2011. And as school property tax cuts eat into the budget while business tax revenue keeps falling short, budget writers very well could have to slash in two years, especially if the recession lingers.

Texas Senate approves $182.3 billion budget | News for Dallas, Texas | Dallas Morning News | Latest News
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Erod said:
17% is 1/6th of the economy = healthcare.
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Another conservative myth.

How is the government going to "take over" 1/6 of the economy? Are you saying that the government is going to "take over" all health care? Doctors, hospitals, pharmaceuticals, etc., etc.?
Can you show where, in either the House or Senate bill, that the government is going to take over health care?
 
BWG said:
Some county and city agencies are facing layoffs in wake of budget shortfalls.

Texas may not have a state income tax, but it does have one of the highest state sales tax rates.

Read up on the structural deficit and thanks to the feds for bailing them out.






Another conservative myth.

How is the government going to "take over" 1/6 of the economy? Are you saying that the government is going to "take over" all health care? Doctors, hospitals, pharmaceuticals, etc., etc.?
Can you show where, in either the House or Senate bill, that the government is going to take over health care?
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Yes, this is exactly the problem. Conservatives tell people this is a GOVERNMENT TAKEOVER of healthcare, they believe it, and then conservatives get to say "Hey look, 56% of Americans are against this bill!" Well, yeah, genius, they are against it because you lied to them about it.
 
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