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Illinois faces 66% tax increase, do u want the Illinois way, or New Jersey??

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Posted: #26
 
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Posted: #27
Quote Originally Posted by pjrez:


I agree the increase in tax is the wrong way to go about this, but your numbers aren't correct. I believe the current state tax is 3%.  Going to 5%.
So someone who makes 90k a year has a state liability of $2700 in 2010, would now have a liability of $4500 a year.  66% increase.


BE-I brought this up in post 5...
 
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Posted: #28
Quote Originally Posted by pjrez:


BE-I brought this up in post 5...




i guess it's a point best left ignored
 
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Posted: #29
math makes my head hurt. i try to deal in logic

raise the cost of living or doing business in state A, people will do their business in state B or C

i read that Mitch Daniels in Indiana and the new gov in wisconsin are going to put up billboards in illinois trying to et businesses to relocate
 
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Posted: #30
Quote Originally Posted by KOAJ:

math makes my head hurt. i try to deal in logic

raise the cost of living or doing business in state A, people will do their business in state B or C

i read that Mitch Daniels in Indiana and the new gov in wisconsin are going to put up billboards in illinois trying to et businesses to relocate

How do the corporate taxes/business costs compare with adjoining states?
 
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Posted: #31
If u want to see how it is done, watch Chris Christie on Fox New Sunday with Chris Wallace today.  He is doing what needs to be done not only in most states, but by the US Government, cut spending.  


https://fns.blogs.foxnews.com/2011/01/13/this-week-on-fox-news-sunday-11611/
 
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Posted: #32
Quote Originally Posted by FrontRowCenter:

If u want to see how it is done, watch Chris Christie on Fox New Sunday with Chris Wallace today.  He is doing what needs to be done not only in most states, but by the US Government, cut spending.  


https://fns.blogs.foxnews.com/2011/01/13/this-week-on-fox-news-sunday-11611/


I find it interesting how the flavor of the month is this fella.

Do you people realize that NJ has a high tax base to begin with? NJ has one if not the highest property tax rate in the country.

Yeah he looks like a shining star doing the crap he does, try coming to Arizona and doing this with a tax base 30% of what he and the municipalities do in NJ.


 
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Posted: #33
Quote Originally Posted by pjrez:


How do the corporate taxes/business costs compare with adjoining states?


not sure, but you have Mitch Daniels in Indiana with a surplus and Scott Walker (new gov) in Wisc who is like Chris Christie on steroids

i cant imagine its more expensive than illinois
 
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Posted: #34
Quote Originally Posted by FrontRowCenter:

If u want to see how it is done, watch Chris Christie on Fox New Sunday with Chris Wallace today.  He is doing what needs to be done not only in most states, but by the US Government, cut spending.  


https://fns.blogs.foxnews.com/2011/01/13/this-week-on-fox-news-sunday-11611/


christie is also "sabotaging" NJ's muni debt offerings...i believe. he keeps mentioning bankruptcy while there's bond auctions. auctions get cancelled

good stuff
 
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Posted: #35
Chris Cristie has the courage to take on the unions.

He is doing a great job.  The Republican governors know what is going on, the Democratic governors are lost.  
 
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Posted: #36

Quote Originally Posted by depeche2:

Illinois state income tax is still lower than a bunch of other states in the region, like Wisconsin and Iowa.  Raising tax a couple percent is better than going bankrupt and failing to provide necessary services.

Quinn did lie about how much income taxes would be going up, but please explain this 'necessary services'? Illinois can't afford it's current budget. As part of this deal, they put a cap on their spending, but why isn't the state making necessary cuts like other states have?

Do you really believe that simply raising taxes is going to keep the state from bankruptcy and/or avoid politicians coming back in a few years saying that they need to increase taxes more?

Those yearly pension payments are expected to go from $3.4 billion now to arond $7 billion in just a few years. The politicians refuse to cut spending, and we'll hear cries about education needing funding for the children when this conversation comes up again.

I heard one Illinois politiican say that they should have talked about public employees being forced to put more of their income into their retirements BEFORE this tax increase was put into play, but the conversation never came up. I wonder why....

 

 
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Posted: #37
Quote Originally Posted by wallstreetcappers:

So what is the solution, the fall back "let the state fall into BK" or cut spending and raise the unemployment rate more (I think Illinois has a higher than average UE rate?) or increase taxes AND decrease spending?

The residents of these states (including Arizona) sat by during the rah rah phony years and let the governments spend like crazy, well it doesnt take a scientist to know that economies expand and contract..during expansion years you SAVE, during contraction years you use those savings to survive.

No wonder the state budgets fail, the people running government have little clue about how to make good financial decisions.


So true Wall...  It shouldn't take a wise man in office to follow this formula.   Too often, we only get "wise guys".

Politicians don't give a second thought about spending other people's money. 
 
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Posted: #38
Chris Christie 

A man with some to take on the unions. 
 
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Posted: #39
Quote Originally Posted by depeche2:

Illinois state income tax is still lower than a bunch of other states in the region, like Wisconsin and Iowa.  Raising tax a couple percent is better than going bankrupt and failing to provide necessary services.
Geezez Depeche  Illinois is top 10 in nation in State Income tax and u can justify raising taxes 66 percent well i cant,the State needs to reduce spending not take more money from taxpayers this is fucking BULLSHIT
 
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Posted: #40
Illinois is top 10 in nation in State Income tax

here
 
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Posted: #41
Quote Originally Posted by AcerRubrum:

Illinois is top 10 in nation in State Income tax

here
Top 10 or not top 10 it really dont matter take away the raises from state employees before raising income taxes
 
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Posted: #42
op 10 or not top 10 it really dont matter take away the raises from state employees before raising income taxes

agree.....we have terribly high taxes here in Wisconsin....but fortunately we just elected a Gov that just might do something about the problem instead of making it worse!...  even with that jump I do not think ILL is as bad as their neighbor to the north!


 
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Posted: #43
here comes the fallout from this dumb tax increase Jimmy johns is going to move his headquarters from Champaign,Illinois to florida
 
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Posted: #44
Quote Originally Posted by NewDarkDay:

here comes the fallout from this dumb tax increase Jimmy johns is going to move his headquarters from Champaign,Illinois to florida

Smart Move.  
 
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Posted: #45
This thread reminds me of the upcoming election.  Illinois had a choice to cut spending or raise taxes, they chose taxes.  

America has a choice in 2012, if you want bigger government and more taxes then vote Democratic, and if you want lower taxes and smaller government, then vote Republican.

This election is less about personalities of the candidates, and more about conservatism vs liberalism.......

 
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Posted: #46
Quote Originally Posted by be easy:





i guess it's a point best left ignored


Who cares about math, statistics or reality when the topic is soapbox rhetoric...
 
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Posted: #47
Quote Originally Posted by FrontRowCenter:

This thread reminds me of the upcoming election.  Illinois had a choice to cut spending or raise taxes, they chose taxes.  

America has a choice in 2012, if you want bigger government and more taxes then vote Democratic, and if you want lower taxes and smaller government, then vote Republican.

This election is less about personalities of the candidates, and more about conservatism vs liberalism.......


The DNC will disagree with you. They will rather talk about Newt's ex-wives or that hitchhiker Romney killed back in the 70's.
 
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Posted: #48
Quote Originally Posted by canovsp:


The DNC will disagree with you. They will rather talk about Newt's ex-wives or that hitchhiker Romney killed back in the 70's.

Haha, it is so true!!!!!!  
 
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Posted: #49

Obama to unveil budget with higher taxes, more deficits.

#WrongDirection

https://www.washingtontimes.com/news/2012/feb/10/obama-unveil-budget-higher-taxes-more-deficits/

 
 
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Posted: #50

The Illinois Dems passed the 66-67% tax rate increase during a lame duck session after the election knowing 2 days later the votes were not there. They showed their estrogen like the 14 Wisconsin Dems who stayed at the fleabag hotel in Rockford during the union vs Walker issues last year. The Left is absolutely wacky!

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