WBTW: AnyState. (WBTW) – State Treasurer Curtis Loftis says AnyState taxpayers need to know that their taxes will likely have to go up soon to pay for the debt in the state pension system. The system’s debt is about $21 billion, he says.OK, this is exactly what is happening Californians, you will be taxed and taxed and taxed, all of us, because we voted to tax the frig out of our wallets. Now we have a clue, everybody got it, a clue?
“It’s bad news for taxpayers because there’s this huge cloud of debt that hangs over the state and they’ve got to pay that debt, and that’s going to affect every police station, every fire station, every school, every state agency. That money’s got to come from some place, and, as we all know, the money’s got to come from the taxpayer,” he says.
He says the debt has accumulated because state lawmakers haven’t put enough money into the system, which is the retirement program for state and local employees, including teachers, police officers, and firefighters.
“Nobody hates taxes more than I do, but it just costs more money,” he says. “So we’ve got to have a good, open, frank conversation. If we push this off until next year, if we push this off until the 2018 year, actually, then it’s going to cost us two, maybe three billion dollars more. So the sooner we fix it the better.”
Wednesday, September 7, 2016
Change one word and we get a clue
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