Lounge of Tomorrow - View Single Post - California controller to suspend various payments

Kevy Baby · 01-19-2009, 06:39 PM

If you are issued an IOU from the state, you will make as much as 5% on that IOU - far better than you can get anywhere (legally) right now. One source.
If you are unable to pay your taxes, you can effectively issue the state (and the Fed) an IOU. Just like the state has to do, you have to eventually pay that IOU with interest (as the state is doing - see above).

01-19-2009, 06:39 PM	#8
Kevy Baby Chowder Head Join Date: Jan 2005 Location: Yes Posts: 18,500	If you are issued an IOU from the state, you will make as much as 5% on that IOU - far better than you can get anywhere (legally) right now. One source. If you are unable to pay your taxes, you can effectively issue the state (and the Fed) an IOU. Just like the state has to do, you have to eventually pay that IOU with interest (as the state is doing - see above). __________________ The thing about quotes on the internet is that you cannot verify their validity. - Abraham Lincoln
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