by Ian Mosley
The ongoing financial collapse of states and municipality proceeds apace. Now New York is delaying state income tax refunds. WCBS-TV reports: “For hundreds of thousands of New Yorkers, the check won’t be in the mail — at least not on time. New York State has stopped paying tax refunds and won’t start again until next month.
The tax refund delay is part of a bigger cash crunch. Half a billion dollars’ worth of refund checks were put on hold last Friday, and state beancounters won’t start sending you your money until at least April 1. ‘I apologize that we had to do this. I hope it serves notice on the public of how serious our financial situation is,’ Gov. David Paterson said.’ ”
Somehow, I doubt if taxpayers will get any slack in paying their property taxes. If you don’t pay on time, expect some massive fine. Unfortunately, you don’t get to fine them when they send your income tax refund late.
The WCBS-TV article notes “Several hundred thousand New York taxpayers will be affected with most getting an average refund of $1,000. People who filed in late February and early March might have to wait as long as six weeks till the checks are in the mail. The governor said the move was unavoidable. He’s also planning to withhold $1.5 billion in school payments and aid to local governments. Withholding the tax refunds is sure to anger the legislature.
The State Senate, which rarely agrees on anything, has unanimously passed a resolution opposing the move. Just because the state is going to be late getting you your money doesn’t mean you can be late paying the state. The deadline for filing New York State tax returns is April 15. And if you are late, you pay a penalty.”
But why would the situation be any better in six weeks time? Does the state of New York have some kind of secret source of revenue that no one knows about? Has someone struck oil in Times Square? Did the revenue department finally succeed in getting the hooker to refund all the money former Governor Spitzer paid her?
If they can’t pay the income tax refunds, what’s next? Welfare cuts? That will go over well in Harlem. And what about next year? New York has driven tens of thousands of productive White businesses and countless wealthy individuals out of the state with crushing taxes and insane regulations. Years of liberal and even Communist policies have taken a severe toll.
Where will the money come from as New York’s income drops just like everybody else’s. People without jobs can’t pay income taxes on income they don’t have, and people whose houses have been foreclosed can’t pay property taxes.
The financial abyss yawns open a little wider every day with no end in sight.