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- cross-posted to:
- [email protected]
As tensions escalate between California and the Trump administration over immigration, another potential battlefront is emerging over taxes.
The spat began with reports that the Trump administration is considering cutting funding for California’s university system, the largest higher education system in the nation with about 12% of all U.S. enrolled students.
In response, Gov. Gavin Newsom wrote Friday afternoon in a social media post that California provides about $80 billion more in taxes to the federal government than it receives in return.
“Maybe it’s time to cut that off, @realDonaldTrump,” Newsom said.
You can withhold paying your federal taxes from your paycheck. Most people don’t because they don’t want to get stuck with a big tax bill in April with no way to pay it if they spent that money or lost it on a bad investment. if enough people all did that at once, regardless of state, it could put a big financial burden on Trump. The government heavily relies on this steady source of income, and unless you make a lot of money, you are probably getting a federal return every year, which means you gave the U.S. Government an interest free loan of sorts.
You also get hit with an underpayment penalty if you do this and don’t pay estimated taxes too.