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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 MaggieD View Post
    Of course getting RID of every government pension would be wrong.

    But every single one of them, bar NONE, should be Defined Contribution Plans -- not the sweetheart Defined Benefit Plans they have now. People receiving government pensions are sittin' pretty while Average Joe Taxpayer is taking it up the yang-yang. It's wrong. It's criminal. The politicians who let this happen should be indicted.
    So because corporate America has screwed many people out of their lifes work, you now want everyone to engage in the race to the bottom out of spite?
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    Re: Illinois Lawmakers Propose 75% Income Tax Hike

    Bad idea, especially for the poorer. Make it a sliding scale, from one percent to ten percent, starting with the poorest up to the most wealthy, like the state income tax in CA.

    ricksfolly

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    Re: Illinois Lawmakers Propose 75% Income Tax Hike

    Quote Originally Posted by haymarket View Post
    So because corporate America has screwed many people out of their lifes work, you now want everyone to engage in the race to the bottom out of spite?
    Corporate America has screwed many people out of their lifes work? Where do you get your information. We have a labor force of approximately 150 million people so tell me how many work for those evil corporations that you want to hate? How many of those evil corporations have unions representing the workers? Right now GM/Chrysler still owe the American people over 30 BILLION dollars, are the unions suffereing? AIG owes the American taxpayers over 90 billion dollars. Looks to me like the chosen industries by the Obama Administration are the ones screwing the American taxpayer.

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    Re: Illinois Lawmakers Propose 75% Income Tax Hike

    Quote Originally Posted by ricksfolly View Post
    Bad idea, especially for the poorer. Make it a sliding scale, from one percent to ten percent, starting with the poorest up to the most wealthy, like the state income tax in CA.

    ricksfolly
    What do you think the fair tax rate is for those evil rich people?

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    Re: Illinois Lawmakers Propose 75% Income Tax Hike

    Quote Originally Posted by haymarket View Post
    So because corporate America has screwed many people out of their lifes work, you now want everyone to engage in the race to the bottom out of spite?
    Haymarket, at least try to be impartial with your government pension.

    What race to the bottom? How about a pensiion just like every other private sector employee? How about THAT????

    People talk about class warfare here on DP. There will be class warfare. And it will be public sector employees in the crosshairs of private sector employees who are being bled absolutely dry paying their ridiculous guarantees.
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    Re: Illinois Lawmakers Propose 75% Income Tax Hike

    Quote Originally Posted by MaggieD View Post
    Of course getting RID of every government pension would be wrong.

    But every single one of them, bar NONE, should be Defined Contribution Plans -- not the sweetheart Defined Benefit Plans they have now. People receiving government pensions are sittin' pretty while Average Joe Taxpayer is taking it up the yang-yang. It's wrong. It's criminal. The politicians who let this happen should be indicted.
    Do you know how a defined pension works?
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    Re: Illinois Lawmakers Propose 75% Income Tax Hike

    Quote Originally Posted by haymarket View Post
    some of Wisconsin's taxes are higher than Illinois.
    Illinois coroprate tax rate on income is 9.5 percent.
    7% percent corporate income tax plus 2.5% Personal Property Replacement Tax


    Wisconsin is 7.9.
    Last edited by buck; 01-15-11 at 11:24 PM.

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    Re: Illinois Lawmakers Propose 75% Income Tax Hike

    Quote Originally Posted by haymarket View Post
    So because corporate America has screwed many people out of their lifes work, you now want everyone to engage in the race to the bottom out of spite?
    We demand solidarity from all public sector union members. There is only one way for them to demonstrate solidarity with the people. Share the pain.

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    Re: Illinois Lawmakers Propose 75% Income Tax Hike

    Quote Originally Posted by donc View Post
    Do you know how a defined pension works?
    Yuppers.

    ten characters

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    Re: Illinois Lawmakers Propose 75% Income Tax Hike

    Quote Originally Posted by pro-bipartisan View Post
    I don't feel bad for people in Illinois, they shouldn't have allowed him to be voted in.
    I didn't vote for him, but with the strong movement of this wine baby unions, they definitely have a major influence on the voting. It's just quite odd since he was talking with one of his buddies from NY and specifically said he was not going to hike taxes (ill try to find the link), and it was literally the first thing he said.

    The income tax raise from 3% to 5% wasn't the big issue, because it's still low, and was canceled for the first year through a 2% FICA tax cut, so it offsets. As someone said earlier, it was the enormous hike in corporate taxes, going from 4.8 to 7%.

    Illinois will just never get it, even our neighboring governors are making fun of us, as the governor of Indiana said "it's like living next to the simpsons because we're such a joke." Wisconsin governor said "they're just trying to send us jobs aren't they? Well the door is open."

    Governor Quinn projected 6.8 billion in revenue from these taxes increases, but he apparently doesn't understand that businesses and consumers will indeed alter their spending, which accounts for less revenue for the government, especially if businesses like Caterpiller and State Farm would happen to ship out, or even cut their budget. Only 2% of the money is allowed to be spent on other expenditures, which will likely be offset will health care cost.

    Don't get me started on how in debt with state universities they are.

    My state is a joke
    Last edited by DontDoIt; 01-18-11 at 04:12 PM.

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