This may sound crass, but one of the perks of being a parent is the tax credit each dependent is worth come tax season. But, if you live in California, dependent tax credit has been slashed; and quite a bit. California has been in a fiscal freefall for a while and the state legislature is looking for every possible way to shore up its budget deficit.

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Governor Schwarzenegger

Californians can expect their taxes to go up about $210 dollars per dependent. Children are only going to be worth about $99 dollars in the state of California. Glad I live on the other side of the country. In 2008, you received $99 dollars for adults and $309 for each dependent, now the dependents will go down to the adult level. The $99 dollar amount is just an estimate, the actual amount will be out later this summer.

The Golden State didn’t just cut the dependent tax credit, it also raised taxes by .25 of 1%. Doesn’t sound like much, but if you were a married couple making $100,000 you would have your taxes increased by about $250 bucks. Most Californians know about this because employers were sent new tables for withholdings and they most likely started using them in May.

California is just another liberal state, using liberal methods, to get out of a liberal mess. If you want to know where Barack Obama’s policies are going to lead, take a hard look at California. And don’t give me that “it’s run by a Republican” garbage, he’s as liberal as they come. It’s not about Republican or Democrat; it’s about liberal and conservative.

California is relatively unaware of the new tax credit scenario for 2009. The Franchise Tax board is trying to let everyone know about the dependent tax credit decrease so that they can prepare. If you live in California you’re going to have to save a little bit more for the rest of the year; because those little bundles of joy that you counted on writing off, just got wrote back on.

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Governor Schwarzenegger

Man of Truth in California

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