Does California Treasurer Bill Lockyer read Taxrascal?

I don’t want to make any promises, but if this tax blog is to be believed, California’s treasurer is doing exactly what this site suggested: paying the bills with IOUs! As predicted, these IOUs aren’t exactly like that time your brother-in-law promised he’d totally pay back that $20. Dozens of banks accept these IOUs, and people are already trying to buy and sell them online.

Sure, it’s less convenient than just having cash, but it’s also a great way for California to advertise what a disaster area they are. It’s one thing to see on the news that they can’t figure out how to balance their budget. It’s another thing entirely to open up an envelope marked “State Tax Refund,” and find out that it’s full of what looks like monopoly money.

So thanks, Bill Lockyer! Glad you’re enjoying the Rascal. While you’re here, check out this list of the top tax blogs for more fine folks worth reading.