Was Illinois justified in raising Taxes?

Discussion in 'Economy' started by Neubarth, Jan 14, 2011.

  1. Neubarth
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    Neubarth At the Ballpark July 30th

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    They have all those social welfare programs that they have to pay for. One third of the adult population of the state is not in the labor pool because they are retarded (or have other mental problems) and are on public assistance and food stamps.

    The only way to pay for all that state generosity is to raise taxes on the rich and what is left of the middle class. Are there any other alternatives, like telling the churches to foot the burden for the poor like they used to do two hundred years ago and before?
     
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  2. william the wie
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    william the wie Gold Member

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    Well the rich and middle class will look for the exits.
     
  3. Two Thumbs
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    Two Thumbs Platinum Member

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    They raised everyones taxes and the sales tax.

    they also INCREASED spending.

    So not only was it not justified it was utter bs. The surrounding states are licking thier chops knowing full well they have lowered thier taxes and industry will move in from Il.
     
  4. DaGoose
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    DaGoose Gold Member

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    Geez!! Illinois raised the income tax rate to 5% which will still be lower than many nearby states. The top personal rate in Wisconsin is 7.75 percent and Iowa's is 8.98 percent.
     
  5. Two Thumbs
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    Two Thumbs Platinum Member

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    They also have a higher sales tax and corporate tax

    they raised it to cover their over spending, but then they increased how much they are going to spend this year, so the are just taking more to waste more.
     
  6. KissMy
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    KissMy Free Breast Exam

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    The Government backed Union Pensions are the real problem. They promised the unions 8.5% earnings on their pensions but the subprime derivatives lost them money instead of making them that crazy high fictitious 8.5% plus government underfunded many of them. All of us commoners are stuck with our 401k's that took a hit & are not backed by government. But these government assholes cant loose their multi million dollar pensions. Guess who must pay to keep these retired officials, police, firemen & teachers living the high-life.
     
  7. DaGoose
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    DaGoose Gold Member

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    Ya.....my wife will sure be living the "high life" on her $28,000 a year teacher pension. :party:

    And I happen to think that retired police and firefighters earn every penny of their pensions. They're the ones who will put their asses on the line just by you picking up the phone.
     
  8. editec
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    editec Mr. Forgot-it-All

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    Don't you find it somewhat confusing that the very same people who claim they love the law, business ethics, and personal responsibility, totally FORGET that your wife's pension was a CONTRACTED BENEFIT?

    Suddenly all their ethics and high ground capitalistic morality gets thrown out the window when they benefit the kind of people they hate.

    These hateful morons want to take your wife's pension and give it to corporations in the form of tax breaks and sweet-heart contracts with the POLS that they put in office.
     
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    Last edited: Jan 16, 2011
  9. william the wie
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    william the wie Gold Member

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    The pension fund managers who ran the pension funds into the ground and the Wall St. bond salesmen are politically protected.
     
  10. code1211
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    code1211 Senior Member

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    That's not it at all.

    The pensions were a creation of a labor deal between a government official who didn't care and a union official who wanted more. If the deal was made, then the price should have been specified and the outcome guarenteed.

    The price was not paid, the outcome was promised, but the method to fulfill was not put in place.

    The government officials who approved the ponzi scheme are no longer around to hold the bag. The pensioners who accepted the deal in the past probably assumed that the pension was a part of their compensation and they were probably justified in this assumption.

    However, obviously, the funds were never put up to guarentee the outcomes and the pensioners who depended on this being fulfilled were swindled by their union bosses and the government who, together, either stole the money or never put it aside in the first place. The criminals, both government and union, who decieved the pension earners are the bad guys here

    Outrage can exist in this case over the obvious fraud that has been perpetrated against the retirees by the government, the unions and the combined dishonesty and corrupt incompetence of both.

    Now the bill is come due and the money was stolen. Is it your recomendation that we happily forget the we got screwed again and just pony up money that ain't there? This is the result of outright theft and lies by those that we trusted and who stole the cash they said they were protecting.

    Heads should roll over this.
     

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