Senator George Runner
Serving the 17th District which incorporates portions of the Los Angeles, San Bernardino, Ventura and Kern counties.

Your paycheck might be a little slimmer beginning on November 1. That’s because the California Legislature voted in July to take more of your hard-earned money by increasing the Personal Income Tax Withholding.

Assembly Bill x4 17 (Evans, D-Santa Rosa) allows the state to withhold 10 percent more of your money in an effort to raise $1.7 billion for the state coffers.

Essentially the government is borrowing money from taxpayers (without paying interest) because “nickel and diming” taxpayers wasn’t enough for this spendthrift Legislature.

I opposed this bill on the grounds that it was an irresponsible approach to balancing a woefully out of whack budget. I argued that the Legislature and the last two governors have relied on gimmicks and accounting tricks to balance the state budget. This is just one more scheme that delays solving California’s fiscal problems.

The good news is taxpayers are in the position to change the withholding number on *this form. I suspect many workers will choose this option – especially at a time when most Californians are stinging from economical hard times, that include job layoffs, devalued retirement accounts and lost homes; and at a time when the Legislature already raised taxes by an unprecedented $18 billion in February.

Or, taxpayers can do nothing and receive a bigger refund next year. But again, California’s Franchise Tax Board will not pay taxpayers interest on the borrowed money.

I believe people ought to hang on to as much of their money as possible for spending on their families and helping the economy grow – not bailing out the government.

* Always consult a tax advisor before making changes to your personal income tax withholding.