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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 upsideguy View Post
    Seems to work in Washington.... those that ignore the most get re-elected.
    Thats because most voters are pretty childish.

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    Re: Illinois Lawmakers Propose 75% Income Tax Hike

    Quote Originally Posted by The Prof View Post
    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
    And the Southern States are in a just a big economic hole as Illinois if not worse..

    Texas has a 25+ billion deficit out of a budget of 98 billion......... Taxes will be going up in Texas too... or as the Texas righties call it "fees". This is a far far far higher deficit than any European country (with exception of Ireland if you include the bank guarantee).

    On top of that, if we look at the tax burden of each state, Illinois is actually at about the same level or LOWER than many southern states, with exception of Texas of course.

    Point is, it is far too early to be touting the "southern states" purely based on short term tax levels.
    PeteEU

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    Re: Illinois Lawmakers Propose 75% Income Tax Hike

    Greek debt to reach 120.8 pct of GDP in '10 - draft | Reuters

    the 10 states with the highest income tax on high earners: CA, HI, IA, ME, NJ, NY, OR, RI, VT, DC

    http://www.taxadmin.org/fta/rate/ind_inc.pdf

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    Re: Illinois Lawmakers Propose 75% Income Tax Hike

    Quote Originally Posted by The Prof View Post
    Greek debt to reach 120.8 pct of GDP in '10 - draft | Reuters

    the 10 states with the highest income tax on high earners: CA, HI, IA, ME, NJ, NY, OR, RI, VT, DC

    http://www.taxadmin.org/fta/rate/ind_inc.pdf
    And I was talking about deficits.... you do know the difference right?

    I was also talking about tax burden... you do know what that is right? it is not tax on income..
    PeteEU

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    Re: Illinois Lawmakers Propose 75% Income Tax Hike

    no one cares what you're talking about, narcissus

    120.8% is doom

    sorry

    and a 2.25% hit on personal income, on top of federal, property, sales, excise, cap gains, inheritance and other taxes, tolls and fees is a 2.25% hit on personal income

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    Re: Illinois Lawmakers Propose 75% Income Tax Hike

    Quote Originally Posted by The Prof View Post
    no one cares what you're talking about, narcissus

    120.8% is doom

    sorry
    Japan has over 200%... The US is nearing 120% and was over 100% after WW2.. what doom happened to those two? Italy has been over 100% for decades and only now is it suddenly a problem.. You were saying?

    And again it has nothing to do with my comments. Stop trying divert attention away from deficits to overall debt.

    and a 2.25% hit on personal income, on top of federal, property, sales, excise, cap gains, inheritance and other taxes, tolls and fees is a 2.25% hit on personal income
    Yes and upping "fees" in Texas will have the same impact .. a hit on personal income. Your point being?
    PeteEU

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    Re: Illinois Lawmakers Propose 75% Income Tax Hike

    Quote Originally Posted by PeteEU View Post
    The US is nearing 120%... what doom happened
    you have to ask?

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    Re: Illinois Lawmakers Propose 75% Income Tax Hike

    Quote Originally Posted by The Prof View Post
    you have to ask?
    Yes I do, but since you are selective in your reply... what doom has happened to Japan with 200%+ debt vs GDP and the US after WW2? As for the US atm, it is going just fine since the markets are show confidence towards the US.
    PeteEU

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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.

    .
    Provide the people a full and open accounting of current expenditures. Set goals first on spending deductions and cuts. COmmit via legislation to those cuts, then turn to taxpayers with a one time increase or decrease base on those cuts and the actual budget.

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    Re: Illinois Lawmakers Propose 75% Income Tax Hike

    Moderator's Warning:
    Illinois Lawmakers Propose 75% Income Tax Hike keep it civil, please

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