Can I buy some of those IOUs California is issuing for less than face
value and then use them to pay my federal income tax at face value? I
have a CA employee, can I pay his CA income tax in Calibucks?

wrote:
On Mon, 13 Jul 2009 20:30:04 -0700 (PDT), Frogwatch
wrote:

Can I buy some of those IOUs California is issuing


Sure, just buy California municipal bonds and you won't have to pay
federal taxes on any of your profits.


It was predictable that the citizens of California would "proposition"
themselves into bankruptcy after the process virtually eliminated the
abilities of the governor and the legislature to raise the revenues
dictated by the ballot initiatives.

H the K wrote:
wrote:
On Mon, 13 Jul 2009 20:30:04 -0700 (PDT), Frogwatch
wrote:

Can I buy some of those IOUs California is issuing


Sure, just buy California municipal bonds and you won't have to pay
federal taxes on any of your profits.


It was predictable that the citizens of California would "proposition"
themselves into bankruptcy after the process virtually eliminated the
abilities of the governor and the legislature to raise the revenues
dictated by the ballot initiatives.


Sounds like the people of California decided to stop letting their
legislature and Governor rob them blind.

"H the K" wrote in message
...
wrote:
On Mon, 13 Jul 2009 20:30:04 -0700 (PDT), Frogwatch
wrote:

Can I buy some of those IOUs California is issuing


Sure, just buy California municipal bonds and you won't have to pay
federal taxes on any of your profits.


It was predictable that the citizens of California would "proposition"
themselves into bankruptcy after the process virtually eliminated the
abilities of the governor and the legislature to raise the revenues
dictated by the ballot initiatives.


Yup, ballot initiatives hurt us, but the Legislature helped it along big
time.