State's lawmakers pass 66 percent income tax increase

Discussion in 'Politics' started by Two Thumbs, Jan 12, 2011.

  1. Two Thumbs
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    Two Thumbs Platinum Member

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    SPRINGFIELD, Ill. — Illinois lawmakers have approved a politically risky 66 percent income tax increase in an effort to solve a historic budget crisis.

    State's lawmakers pass 66 percent tax increase - Politics - More politics - msnbc.com
    By DEANNA BELLANDI
    The Associated Press

    The bill now goes to Democratic Gov. Pat Quinn, who supports the plan.

    It would temporarily We know that's not true. Spending will increase if it even gets close to balancing the budget. set the personal tax rate at 5 percent, up from 3 percent now. Corporate taxes would climb, too.

    Quinn's office says the tax increase would generate about $6.8 billion annually, helping close a budget hole that could hit $15 billion this year. As long as companies don't move out. Indiana must be very happy at this idiocy.

    In sheer percentage terms, the increase could be the biggest on the long list of those passed as states grapple with nationwide economic woes. We're number 1! We're number 1! We're number 1!

    The Illinois Senate approved the measure 30-29 early Wednesday. The House had approved it late Tuesday.




    It's rare that I'm glad I no longer live there. But it's moments like this that really drive it in that I will never move back home.
     
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    Last edited: Jan 12, 2011
  2. Baruch Menachem
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    Baruch Menachem '

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    Tax rate in Oregon is 11%.

    So much opera about moving the rate from 3 to 5 is kind of silly.

    (OTOH, Oregon has no Sales tax )
     
  3. peach174
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    peach174 Gold Member Gold Supporting Member Supporting Member

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    Just shows how far they will go in order to keep their social programs and control of the masses.
     
  4. Revere
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    Who except government demands you pay 66% more for the same crap you always got?
     
  5. zzzz
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    zzzz Just a regular American

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    Should have sold/leased the highway like Indiana did several years ago. That money and Daniels cuts in government has kept Indiana budget balanced through out this depression/recession. He even reduced our property taxes during this time.
     
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  6. Two Thumbs
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    Two Thumbs Platinum Member

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    Ill does. If I recall it's at least 6%.

    I think the more important issue is spending. There's not only no cuts coming, the state union workers are going to get thier raise.

    So you see, this "temporary increase" is a lie, b/c they are increasing spending, which will have to be paid for.
     
  7. MajinLink
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    MajinLink Member

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    private companies
     
  8. Revere
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    Really, what do they force you to buy?
     
  9. Two Thumbs
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    If a private company charges more for the same, you can go to another company.

    If a state charges you more for the same, you pay or pay to move.

    If the Fed gov charges more....
     
  10. Jackson
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    Jackson Gold Member Supporting Member

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    We've never witnessed an empty state before. The only ones staying may be those on welfare.
     

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