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Thread: Illinois Lawmakers Propose 75% Income Tax Hike

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    Re: Illinois Lawmakers Propose 75% Income Tax Hike


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    Re: Illinois Lawmakers Propose 75% Income Tax Hike

    Quote Originally Posted by The Prof View Post
    No. And I won't be surprised when a way is found to exempt Caterpillar from the 75% hike that's going to effect everyone else. 23,000 jobs trump mom and pop, I'm afraid. Very sad. Sure wish we had a Republican governor.

    I also find it VERY interesting that the Chicago Tribune is not covering this story. I'll be looking for it Sunday. I hope it's there. That's sad...
    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
    No. And I won't be surprised when a way is found to exempt Caterpillar from the 75% hike that's going to effect everyone else. 23,000 jobs trump mom and pop, I'm afraid. Very sad. Sure wish we had a Republican governor.

    I also find it VERY interesting that the Chicago Tribune is not covering this story. I'll be looking for it Sunday. I hope it's there. That's sad...
    This story is an excellent example of a corporation whipsawing a state using tactics that amount to legal blackmail. It exemplifies why we need one national policy which forbids this very sort of chicanery. We are one nation, one people, one economy with more uniting us that mere state lines on a map. It is well beyond time that we accepted this and made the necessary changes. Or we will forever be subject to corporate blackmail.
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    Re: Illinois Lawmakers Propose 75% Income Tax Hike

    corporate blackmail---i'm outta here

    LOL!

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    Re: Illinois Lawmakers Propose 75% Income Tax Hike

    Quote Originally Posted by haymarket View Post
    This story is an excellent example of a corporation whipsawing a state using tactics that amount to legal blackmail. It exemplifies why we need one national policy which forbids this very sort of chicanery. We are one nation, one people, one economy with more uniting us that mere state lines on a map. It is well beyond time that we accepted this and made the necessary changes. Or we will forever be subject to corporate blackmail.
    you will not solve government/corporate corruption by giving government more power nor consolidating government power.

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    Re: Illinois Lawmakers Propose 75% Income Tax Hike

    Quote Originally Posted by haymarket View Post
    This story is an excellent example of a corporation whipsawing a state using tactics that amount to legal blackmail. It exemplifies why we need one national policy which forbids this very sort of chicanery. We are one nation, one people, one economy with more uniting us that mere state lines on a map. It is well beyond time that we accepted this and made the necessary changes. Or we will forever be subject to corporate blackmail.
    Sometimes it's corporations. Sometimes its public sector unions. I am sorry, but I cannot resist drawing a parallel.

    I don't know what could be done. Along comes Wisconsin, as an example, and offers Caterpillar a 10-year hiatus on property taxes; a lower state tax rate...whatever perks needed to pull in 23,000 jobs. For all the wailing and gnashing of teeth that we read here about evil corporations, we need to understand that they are truly our assets -- and aside from the American people and the land we live on, they're right up there at the top of the list.

    There's a message here, I think. Perhaps we need to realize that large corporations and the tens of millions of jobs they bring to the table should be protected and respected accordingly. And, most of all, our politicians need to quit spending.

    Haymarket, I hope you know that I respect you a great deal, admire your accomplishments, and realize that you've made significant contributions to those whose lives you've touched. I completely disagree with you on public sector unions, as, course, you know. I'm a Johnny One Note for the sopranos....you're in the bass section. I've come to the conclusion that every once in a while we sing a happy tune together. Ha!
    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 The Prof View Post
    Illinois has an insane tax structure..I would agree that there is some corporate blackmail that goes on...but not in this case, illinois democrats are raping business with taxs there

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    Re: Illinois Lawmakers Propose 75% Income Tax Hike

    Quote Originally Posted by MaggieD View Post
    No. And I won't be surprised when a way is found to exempt Caterpillar from the 75% hike that's going to effect everyone else. 23,000 jobs trump mom and pop, I'm afraid. Very sad. Sure wish we had a Republican governor.

    I also find it VERY interesting that the Chicago Tribune is not covering this story. I'll be looking for it Sunday. I hope it's there. That's sad...
    I don’t know what they are looking for but its not like the state of Illinois is taxing them to death with Corp taxes.

    State...Consolidated. Effective Tax Rate=5. Caterpillar…………..........315……...30,412……...1.04%


    Maybe they are looking to get to zero like Old Republic Intl.........0.00%

    Allstate.............................0.........36, 823........0.00%



    Wuerth While Wily Wakenings: Update on Illinois Big Corps Have Paid So Little in State Corporate Income Taxes
    The haggardness of poverty is everywhere seen contrasted with the sleekness of wealth, the exhorted labor of some compensating for the idleness of others, wretched hovels by the side of stately colonnades, the rags of indigence blended with the ensigns of opulence; in a word, the most useless profusion in the midst of the most urgent wants.Jean-Baptiste Say

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    Re: Illinois Lawmakers Propose 75% Income Tax Hike

    Quote Originally Posted by donc View Post
    I don’t know what they are looking for
    relatively few, presumably, care what you are or aren't looking for

    what matters is what oberhelman seeks

    because he represents twenty three thousand JOBS in the land of lincoln

    In a letter sent March 21 to Gov. Pat Quinn, Caterpillar chief executive officer Doug Oberhelman said officials in at least four other states have approached the company about relocating since Illinois raised its income tax in January.

    Oberhelman didn't single out any specific problem with the state's policies in his one-page letter, but Dugan said the recent income tax increase -- signed into law by Quinn in January -- played a significant role in triggering the note.

    "I stand ready to help convince you to relocate or expand in the fiscally conservative, low-tax Lone Star State," wrote Texas Gov. Rick Perry in a Jan. 24 letter.

    "I encourage you to consider South Dakota as a place for your business to grow and prosper," noted J. Pat Costello, secretary of the South Dakota governor's economic development office.

    Nebraska Gov. Dave Heineman wrote in February to say, "In Nebraska, we balance our budget by controlling spending, not by raising taxes."

    "These are the kinds of letters we fear," said Patty Schuh, spokeswoman for Senate Minority Leader Christine Radogno, R-Lemont. "Even more worrisome are the hundreds of businesses being wooed that we don't know about."
    seeya, sorry

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    Re: Illinois Lawmakers Propose 75% Income Tax Hike

    Quote Originally Posted by haymarket View Post
    Or we will forever be subject to corporate blackmail.
    well...

    when it comes to corporations, it appears some are blackmailers

    while others are pets

    In 2010, the company reported global profits of $14.2 billion, $5.1 billion of which came from the U.S. But using a combination of offshore accounts and aggressive lobbying for tax breaks, GE managed to not only pay no taxes, but get a benefit of $3.2 billion. GE spent $200 million on lobbying in the last decade. At one point, when a generous tax break was about to expire, the head of GE's tax team met with Representative Charles Rangel, then chairman of the ways and means committee, and begged for an extension on one knee. Supposedly it was a joke, but GE got its extension, and Rangel got a $30 million gift for New York City schools.
    GE Pays No Taxes - The Daily Beast

    where does a person go to get back his or her self respect?

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