California vendors fight for their cash

TheRealMafoo

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TheRealMafoo on 12 July 2009

http://money.cnn.com/2009/07/12/smallbusiness/california_small_vendors_ious.smb/index.htm?postversion=2009071210

A few questions about this. How does the tax on these IOU's work?

Is Cali paying people who are on welfare? If so, I find't is amazing that they are willing to pay people who provide no service to the state, yet those who are working for the state don't get paid.

All joking aside, this is some really scary shit, and an example of what can happen on a national scale if we don't stop spending money we don't have.

sguy78

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sguy78 on 12 July 2009

TheRealMafoo said:

http://money.cnn.com/2009/07/12/smallbusiness/california_small_vendors_ious.smb/index.htm?postversion=2009071210

A few questions about this. How does the tax on these IOU's work?

Is Cali paying people who are on welfare? If so, I find't is amazing that they are willing to pay people who provide no service to the state, yet those who are working for the state don't get paid.

All joking aside, this is some really scary shit, and an example of what can happen on a national scale if we don't stop spending money we don't have.

Google "Bar Stool Economics". You'll get a laugh out of it, or cry.