CHECK WITH YOUR OWN PAYROLL to see when your deadline is to change your Employee Withholding..... otherwise 10/30/09 may be your deadline!!
ACTION ALERT: SAVE YOUR PAYCHECK TODAY
October, 2009 | Issue 15
Assemblymember.Harkey@assembly.ca.gov ACTION ALERT: SAVE YOUR PAYCHECK TODAY
Californians' Incredible Shrinking Paychecks
State Government to Borrow from YOUR Paycheck Beginning November 1st
Once again, our needy State government will attempt to squeeze more out of you, the taxpayer. Starting November 1st, every Californian will see fewer dollars in their paycheck. AB 17XXXX, passed this summer, will increase tax withholdings schedules by 10%. Let us not forget that California already has one of the highest tax burdens in the nation.
Essentially, it's a shameful accounting gimmick that equates to a $1.7 billion; 0% interest loan from you to the State to fill budget gaps. And who thinks the State will be able to pay you back in the spring? Unfortunately, the tax-and-spend crowd fails to realize that when consumers have fewer dollars to spend, our path to economic recovery will be delayed even further. (See: www.heritage.org/Research/Taxes/bg1765.c...)
So what can you do? You have the right to change your withholding by Friday, October 30th, and override these Sacramento accounting gimmicks. Contact your personal tax advisor today, connect with your employer's human resources department and be sure to revise your current withholdings as advised by your tax professional. Adjusting your State withholdings accordingly may prevent your paycheck from shrinking by up to 10%. Do not let the State take any more of your hard-earned money to patch up the holes in the budget.
You work hard for your money. An additional $200 or $2,000 truly makes a difference when trying to pay the bills. I encourage you to forward this notice on to your co-workers and friends and encourage them to stop the scam.
For more information on California's attempt to take 1.7 billion dollars at 0% interest from taxpayers, please visit: www.edd.ca.gov/Payroll_Taxes/2009_PIT_Sc...