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Thread: Illinois Lawmakers Propose 75% Income Tax Hike

  1. #11
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    Re: Illinois Lawmakers Propose 75% Income Tax Hike

    Quote Originally Posted by Tashah View Post
    They can't kick this can down the road forever. The new Illinois House will have more Republican members. I'm fairly sure they are going to demand even deeper state budget cuts before agreeing to an increased tax schedule. After decades of mismanagement and corruption, the Illinois/Cook County/Chicago Democrats are discovering that there is no easy way to fix this mess without also paying a heavy political price at the polls.
    Good theory, but unfortunately doesn't translate to reality. Madigan has controlled the State House and the purse strings for 20+ years. And he is untouchable. The grownup solution to our states financial problems would be to reign in spending, but that doesn't get the boys in Chicago re-elected.

    So the solution is to squeeze out more revenues. The tax increase will be passed. And will include the comical caveat that it is only temporary and the increase will expire in 4 years . But spending isn't going to see any cuts so in 4 years they will legislate that the higher taxes must continue.


    New Jersey is the only state we view as serious competition for being the most corrupt state government in the USA. Either "We're Number #1" or mebbe it's a tie.....


    .


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  2. #12
    wʜɪтe яussɪaи Tashah's Avatar
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    Re: Illinois Lawmakers Propose 75% Income Tax Hike

    Quote Originally Posted by Cole View Post
    New Jersey is the only state we view as serious competition for being the most corrupt state government in the USA. Either "We're Number #1" or mebbe it's a tie.....
    I really don't care what they do at this juncture. I have property holdings in sunnier/warmer areas of the US. Color me gone.

    אשכנזי היהודי • Белый Россию

  3. #13
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    Re: Illinois Lawmakers Propose 75% Income Tax Hike

    Illinois income tax rate of 3% is considerably lower than most other states. People are unlikely to flee the state if it is raised to 5%, if only because most states are even worse.

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    Re: Illinois Lawmakers Propose 75% Income Tax Hike

    a 2.25% hit on net income is a 2.25% hit on net income

    and they've already been leaving

    South gains eight House seats in Census tally - Politics - msnbc.com

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    Re: Illinois Lawmakers Propose 75% Income Tax Hike

    Quote Originally Posted by TOJ View Post
    So what is their solution to the problem? Ignore it and hope it goes away.

    .
    Thats what this State has been doing every year! They ignore it and go on as business as usual. Its actually responsible to raise taxes so they can start paying their bills. What would be even BETTER is cutting every single gov't pension. NO ONE should be getting pensions in this economy. And especially not on my dime!
    CORPORATE GREED AND UNION GREED
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    Re: Illinois Lawmakers Propose 75% Income Tax Hike

    Just another day at the office in Illinois. These folks are so brow-beaten by this, they don't even notice anymore.

    Do you think the Obama administration have been surprised that these everyday tactics aren't flying nationally?

  7. #17
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    Re: Illinois Lawmakers Propose 75% Income Tax Hike

    Quote Originally Posted by buck View Post
    The'yre also talking about increasing the corporate tax from 4.8% to 10.9% (8.4% rate plus the 2.5% personal property replacement tax).

    Think that will cause more companies to move to our state? Hardly.

    If they at least cut spending, a lot, I could find the personal income tax increase palatable. But, from what i've heard, spending cuts are not something Quinn wants or will approve.
    Illinois manufacturing of the future.

    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
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  8. #18
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    Re: Illinois Lawmakers Propose 75% Income Tax Hike

    I don't feel bad for people in Illinois, they shouldn't have allowed him to be voted in.

  9. #19
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    Re: Illinois Lawmakers Propose 75% Income Tax Hike

    Quote Originally Posted by Erod View Post
    Just another day at the office in Illinois. These folks are so brow-beaten by this, they don't even notice anymore.

    Do you think the Obama administration have been surprised that these everyday tactics aren't flying nationally?
    What everyday tactics do you mention?
    CORPORATE GREED AND UNION GREED
    DEMOCRATS AND REPUBLICANS
    DESTROYING THE BEST OF AMERICA ONE DAY AT A TIME

    This is the worst kind of discrimination. The kind against ME! ~ Bender

  10. #20
    Pragmatic Idealist
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    Re: Illinois Lawmakers Propose 75% Income Tax Hike

    Quote Originally Posted by TOJ View Post
    So what is their solution to the problem? Ignore it and hope it goes away.

    .
    Seems to work in Washington.... those that ignore the most get re-elected.

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