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Thread: Illinois Lawmakers Propose 75% Income Tax Hike

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    Re: Illinois Lawmakers Propose 75% Income Tax Hike

    Quote Originally Posted by haymarket View Post
    This strategy is a proven winner for many corporations and decreases their tax liability, garners them infrastructure improvements paid for my government and the taxpayers, allows them to negotiate regulatory breaks, and other significant financial benefits to the corporation.
    http://www.nytimes.com/2011/03/25/bu...pagewanted=all

    The head of [GE's] tax team, Mr. Samuels, met with Representative Charles B. Rangel, then chairman of the Ways and Means Committee, which would decide the fate of the tax break. As he sat with the committee’s staff members outside Mr. Rangel’s office, Mr. Samuels dropped to his knee and pretended to beg for the provision to be extended — a flourish made in jest, he said through a spokeswoman.

    That day, Mr. Rangel reversed his opposition to the tax break, according to other Democrats on the committee.

    The following month, Mr. Rangel and Mr. Immelt stood together at St. Nicholas Park in Harlem as G.E. announced that its foundation had awarded $30 million to New York City schools, including $11 million to benefit various schools in Mr. Rangel’s district. Joel I. Klein, then the schools chancellor, and Mayor Michael R. Bloomberg, who presided, said it was the largest gift ever to the city’s schools.
    Quote Originally Posted by Haymarket View Post
    Every dollar they pay in less tax is harmful to the local community.
    General Electric Paid No Federal Taxes in 2010 - ABC News

    Obama Asks GE's Immelt to Head Economic Advisory Panel, Replacing Volcker - Bloomberg

    We need ONE NATIONAL policy in effect over every square inch of America to prohibit such machinations from happening.
    better start building that WALL

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    Last edited by The Prof; 03-27-11 at 11:40 AM.

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    Re: Illinois Lawmakers Propose 75% Income Tax Hike

    Quote Originally Posted by haymarket View Post
    Corporations are in business to one thing and only one thing - make the most profit that they can possibly make. To do that they will do whatever they have to do to achieve that end.

    What corporations have done, what they are doing now, and what they will continue to do in the future is to play each of the fifty states off against each other for maximum advantage. In addition to that, they will play communities within the states against each other for maximum advantage to the corporation.

    This strategy is a proven winner for many corporations and decreases their tax liability, garners them infrastructure improvements paid for my government and the taxpayers, allows them to negotiate regulatory breaks, and other significant financial benefits to the corporation.

    Every dollar they pay in less tax is harmful to the local community. Every dollar they gain in government picking up the tab for their own costs that they should have paid is harmful to the local community. Every dollar given to them in regulatory 'reform' or alleviation is harmful to the community. All this is only possible because the corporation has the jobs to dangle as bait before the community fathers.

    We need ONE NATIONAL policy in effect over every square inch of America to prohibit such machinations from happening. Until we get such a policy, corporations will continue to be the winners, local communities continue to be the losers, and the American people played for suckers and chumps.
    As long as people such as yourself and others want corporations to be the losers the people who support this will continue to be unemployed. The sympathy for the unemployed who advocate this policy is on the decline.

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    Re: Illinois Lawmakers Propose 75% Income Tax Hike

    Quote Originally Posted by MaggieD View Post
    That way we can just chase 'em right out of the country. I love it.
    I do not know why you would jump to that extreme conclusion.

    from delta

    As long as people such as yourself and others want corporations to be the losers the people who support this will continue to be unemployed. The sympathy for the unemployed who advocate this policy is on the decline.
    I do not know why you would jump to that extreme conclusion. I would hope we all can be involved in a win-win situation.

    from the Prof

    better start building that WALL
    I do not know what you mean.
    Last edited by haymarket; 03-27-11 at 11:49 AM.
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    Re: Illinois Lawmakers Propose 75% Income Tax Hike

    Quote Originally Posted by haymarket View Post
    Corporations are in business to one thing and only one thing - make the most profit that they can possibly make. To do that they will do whatever they have to do to achieve that end.

    What corporations have done, what they are doing now, and what they will continue to do in the future is to play each of the fifty states off against each other for maximum advantage. In addition to that, they will play communities within the states against each other for maximum advantage to the corporation.

    This strategy is a proven winner for many corporations and decreases their tax liability, garners them infrastructure improvements paid for my government and the taxpayers, allows them to negotiate regulatory breaks, and other significant financial benefits to the corporation.

    Every dollar they pay in less tax is harmful to the local community. Every dollar they gain in government picking up the tab for their own costs that they should have paid is harmful to the local community. Every dollar given to them in regulatory 'reform' or alleviation is harmful to the community. All this is only possible because the corporation has the jobs to dangle as bait before the community fathers.

    We need ONE NATIONAL policy in effect over every square inch of America to prohibit such machinations from happening. Until we get such a policy, corporations will continue to be the winners, local communities continue to be the losers, and the American people played for suckers and chumps.
    For someone, such as yourself so well written and obviously intelligent, I fail to understand your logic. I agree completely with your first three paragraphs (though I would add countries to your list in the 2nd paragraph, which corporations leverage for advantage). However, your last two paragraphs are not correct. You state that less in corporate taxes is harmful to the local communities. Tax receipts, like any revenue generating endeavor, are not a zero sum game. Giving a corporation a 10 year tax abatement does not mean that no tax monies are collected. On the contrary, the local employees that are hired will shop in the local community. Homes will be purchased generating tax revenues, restaurants will be frequented employing more people, ancillary businesses will flourish all generating the mighty tax dollar on an exponential basis. You see while Caterpillar may have a short term benefit, it will be the people in the community whom will be the real winners in terms of jobs and purchasing power. Additionally, the local government will enjoy increased tax receipts far exceeding what the absence of a corporation like Caterpillar would cost. Like all things in life, one must measure the cost/benefit relationship against the opportunity cost of not aggressively seeking and marketing to big and small business. Punish these employers though increased tax rates, you punish the people. Once more people understand this, then and only then will this country ever be an economic super power again. I do admit I am pessimistic about our future.
    Last edited by Nevergolfpar; 03-27-11 at 11:51 AM.

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    Re: Illinois Lawmakers Propose 75% Income Tax Hike

    Quote Originally Posted by MaggieD View Post
    That way we can just chase 'em right out of the country. I love it.
    Its the mindless union way doncha know...hell...they destroyed the auto industry...why not destroy all industrial jobs. The union leaders dont care, as long as they can 'organize' the food handlers, they'll be aiiight.

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    Re: Illinois Lawmakers Propose 75% Income Tax Hike

    Yes, that is the theoretical argument. I am not denying that there are benefits to having good corporate citizens in the community. I want them there. We need them there. I want their jobs and their paychecks and their participation in the community which can be very beneficial. Yes, there is a cost/benefit relationship to this.

    Now suppose for a moment that we have a national law which prohibits any level of government from creating a situation which gives an unfair economic or operating advantage to one company over others or gives them breaks or benefits that create an uneven playing field. No local tax breaks. No incentives to move there. No tax abatements. No monetary payments. Nothing from government that creates an unfair advantage or an uneven playing field for other companies.

    What would be the effect of that? Companies would locate where they think they can get good workers, where there are transportation and infrastructure advantages for them, where they feel they can do business and make money. All fifty states and every community within those 50 states would be on the same even playing field.
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    Re: Illinois Lawmakers Propose 75% Income Tax Hike

    Quote Originally Posted by haymarket View Post
    Yes, that is the theoretical argument. I am not denying that there are benefits to having good corporate citizens in the community. I want them there. We need them there. I want their jobs and their paychecks and their participation in the community which can be very beneficial. Yes, there is a cost/benefit relationship to this.

    Now suppose for a moment that we have a national law which prohibits any level of government from creating a situation which gives an unfair economic or operating advantage to one company over others or gives them breaks or benefits that create an uneven playing field. No local tax breaks. No incentives to move there. No tax abatements. No monetary payments. Nothing from government that creates an unfair advantage or an uneven playing field for other companies.

    What would be the effect of that? Companies would locate where they think they can get good workers, where there are transportation and infrastructure advantages for them, where they feel they can do business and make money. All fifty states and every community within those 50 states would be on the same even playing field.
    Kill the unions off and you got a deal. Hell..,.we might even bring back high paying industrial jobs to America.

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    Re: Illinois Lawmakers Propose 75% Income Tax Hike

    Quote Originally Posted by haymarket View Post
    What would be the effect of that? Companies would locate where they think they can get good workers, where there are transportation and infrastructure advantages for them, where they feel they can do business and make money. All fifty states and every community within those 50 states would be on the same even playing field.
    Why on earth do you think all fifty states and every community within those 50 states would be on the same even playing field? Every state and every community doesn't have the same transportation and infrastructures. Every community doesn't have the same labor pool. Or maybe you want them to build 'em...and be forced to pay Chicago wages in Podunk, Missouri. Yikes.

    You are a socialist. I just realized it:

    Any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods.
    The devil whispered in my ear, "You cannot withstand the storm." I whispered back, "I am ​the storm."

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    Re: Illinois Lawmakers Propose 75% Income Tax Hike

    Quote Originally Posted by MaggieD View Post
    Why on earth do you think all fifty states and every community within those 50 states would be on the same even playing field? Every state and every community doesn't have the same transportation and infrastructures. Every community doesn't have the same labor pool. Or maybe you want them to build 'em...and be forced to pay Chicago wages in Podunk, Missouri. Yikes.

    You are a socialist. I just realized it:
    Nope. I just view us as one nation, under law, indivisible with liberty and justice for all.

    Do you think that is too radical?

    There are things we can change and there are things we cannot change. I favor having government deal with the first and not so much the second.
    Last edited by haymarket; 03-27-11 at 01:03 PM.
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    Re: Illinois Lawmakers Propose 75% Income Tax Hike

    Quote Originally Posted by haymarket View Post
    Yes, there is a cost/benefit relationship to this.
    Obama Calls Tax Cuts the 'Right Thing to Do'

    Illinois Lawmakers Approve 66% Tax Hike CBS Chicago

    Now suppose for a moment that we have a national law
    i'm too old to play let's pretend

    maybe some of your other friends might play with you

    have fun

    Do you think that is too radical?
    doing away with FEDERALISM?

    in AMERICA?

    LOL!

    who cares if its RADICAL, it's just too DUMB to dignify

    take care

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