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Calif. Taxpayers Due Refunds May Get IOUs

Matter-Eater Lad
in How We See The World

Featured Replies

Well isn't that what all money is, anyway? Just IOU paper.

 

People will trade their IOUs just like they trade any other type of debt, and they'll use it to buy stuff.

 

The govt has gone bankrupt, it should just shut down.

Well technically a $10 note is an IOU note isn't it ;)

 

I'm surprised that California isn't going to do what some places do in this country with overpaid tax, instead of giving you the money back, they credit it to your account to reduce the amount you owe next year.

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