Illinois Loses Most Jobs in Nation Following Tax Hikes

[OohPooPahDoo]

Illinois Loses Most Jobs in Nation Following Tax Hikes - Page 1 - Mike Shedlock - Townhall Finance

Thanks to Illinois governor Pat Quinn and the Illinois legislature Illinois Loses Most Jobs in the Nation

In a trend that continues to worsen, more Illinoisans found themselves unemployed in the month of July.

Illinois lost more jobs during the month of July than any other state in the nation, according to the most recent Bureau of Labor Statistics report. After losing 7,200 jobs in June, Illinois lost an additional 24,900 non-farm payroll jobs in July. The report also said Illinois’s unemployment rate climbed to 9.5 percent. This marks the third consecutive month of increases in the unemployment rate.

Illinois started to create jobs as the national economy began to recover. But just when Illinois’s economy seemed to be turning around, lawmakers passed record tax increases in January of this year. Since then, Illinois’s employment numbers have done nothing but decline.

Why does the graph only go back to January of 2010?

Would going back further clarify the damage of the Jan 2011 tax hikes?

I dunno. Can't tell without seeing it, can we?

 

[OohPooPahDoo]

Here's a more complete picture.

 

[uscitizen]

RAISING TAXES during a period of monetary scarcity is not a good idea.

Neither is reducing government spending is good idea in times like these.

Note how one party wants to raise taxes while the other party wants to reduce spending?

Doesn't this make ANY OF YOU PARTISANS kind of suspicious?

Not at all?!

there is no scarcity of money it is just a distribution problem.

 

[Toddsterpatriot]

Here's a more complete picture.

Why is that more complete?

 

[rdean]

These Republicans. Hilarious and simplistic. Taxes were raised in Illinois so that must be why there was a jobs loss. Until you look at the entire year. Oops.

The entire country has been suffering because the Chamber of Commerce, working with Republicans, helped business move millions of jobs to China from 2001 to 2008. You can't do such large scale destruction to the country and not have it affect the country for years afterwards. This is a big economy.

Notice, Republicans have the one answer to everything. Cut taxes. Well, our taxes are so low now, the government has been "giving" money to some companies.

Notice the report below was written by a "university". One of those "elitist" places Republicans avoid like a Biblical Plague. One of the only things that will help our country will be education and investing in both our infrastructure and our young people. Republicans don't like education, they believe helping other Americans is "socialism" and no one on this board is a millionaire, always whining their money in being taken away when none of these fuckers have money. In fact, I bet most of them are on disability and sleeping in a bag on the floor of mom's FEMA trailer she got for free because they're "carcinogenic", what ever that means. Go to school, you can find out there.

http://igpa.uillinois.edu/system/files/documents/IERJuly2011.pdf

Chicago Performs Strongly on the 2011 Inc. 5,000 | World Business Chicago | Economic Development, Chicago, Illinois

August 25, 2011

The company that created the most jobs on the Inc. 5,000 this year is in Chicago. SeatonCorp created 14,680 jobs.

Chicago is also an Inc. 500 “Hot Spot” with 15 companies that made the list.

Over all, Chicago is the #3 top job creating metro and Illinois is the #3 top job creating state.

 

[rdean]

Here's a more complete picture.

Why is that more complete?

Figure it out. It's not that hard.

 

[AVG-JOE]

That's because I don't subscribe to the leftist mantra: You can tax a nation into prosperity.

So deficits don't matter to you. Got it.

LOL you leftists. You think the Tax Cuts caused the Deficits. Wrong, Spending to much Caused them. No matter how high, or low we set taxes, the Government will spend more than it takes in.

And whose ******* fault is that?!?

Fair taxes, a budget balanced by law and then build a government you can control.

It ain't rocket science.

 

[rdean]

So deficits don't matter to you. Got it.

LOL you leftists. You think the Tax Cuts caused the Deficits. Wrong, Spending to much Caused them. No matter how high, or low we set taxes, the Government will spend more than it takes in.

And whose ******* fault is that?!?

Fair taxes, a budget balanced by law and then build a government you can control.

It ain't rocket science.

We can control the government now. Except when the right is voted into office. They have a tendency to start wars, redistribute the wealth to those who don't need it and move businesses over seas. Well come on, they told us government was no good. They are just "proving a point".

 

[AVG-JOE]

LOL you leftists. You think the Tax Cuts caused the Deficits. Wrong, Spending to much Caused them. No matter how high, or low we set taxes, the Government will spend more than it takes in.

And whose ******* fault is that?!?

Fair taxes, a budget balanced by law and then build a government you can control.

It ain't rocket science.

We can control the government now. Except when the right is voted into office. They have a tendency to start wars, redistribute the wealth to those who don't need it and move businesses over seas. Well come on, they told us government was no good. They are just "proving a point".

While that may be true enough in practice, the point is that a system of fair and simple taxation, coupled with a budget that is balanced by law would have prevented the Medicare D give away to big pharma, the wars and the tax cuts of 2003 that started this whole mess.

If PAYGO had not expired to open up the cookie jar to Bush and Co. back in '03, the banking disaster would not have been exacerbated by the Spending Gone Wild initiated in 2003.

And yes, the tax cuts of 2003 ARE spending and I can prove it: If PAYGO had not expired, they never would have passed.

 

[DaGoose]

I don't have to prove anything to you, mainly because I can't. There is no amount of evidence I could give you that would convince you that leftist anti-business policies are bad for business.

So, you just continue beating your dog and being surprised when it runs away.

At least you admit you can't back your claims. Bravo!!

As I posted earlier the ONLY reason Illinois lost so many jobs is because we have a heavy manufacturing base and the industry is down overall. The tax increase had a very minimal effect on the loss of jobs.

Now I don't have to prove anything to you, mainly because I can't. There is no amount of evidence I could give you that would convince you that wingnut pro-business policies are bad for the common working man. (Policies such as doing away with minimum wage, making it near impossible to collect workers comp and worker safety laws)

So, you just continue beating your dog and being surprised when it turns and bites you in the ass.

.

The difference between you and I is my views are based on reality. Yours are based on hysterical union talking points.

And your views are based on the fact that you, as a public employee, have no clue to what the realities are in the private jobs market.

Reality? I'll give you some reality.

The "new brand conservative" viewpoint is that somehow the average American agrees that Social Security and Medicare are bad, socialist programs. That Americans are in favor of cutting off all forms of welfare and doing away with minimum wage. That Americans are in support of criminalizing abortion and euthanasia.

And on every point listed above the "new brand conservative" is WRONG.

The harsh reality is that you "new conservatives" are in favor of more government control over our private lives.

Now back to Illinois. According to your viewpoint there is no way that the jobs situation will improve in Illinois. So time will tell which of us is right.

.

 

[editec]

RAISING TAXES during a period of monetary scarcity is not a good idea.

Neither is reducing government spending is good idea in times like these.

Note how one party wants to raise taxes while the other party wants to reduce spending?

Doesn't this make ANY OF YOU PARTISANS kind of suspicious?

Not at all?!

there is no scarcity of money it is just a distribution problem.

True enough.

There is a scarcity of money on the DEMAND side and a glut of dough on the SUPPLY side.

40 years of coddling the supply side WILL have that effect, after all.

But STILL...right now increasing taxes on the supply side will NOT help. Not unless the government was going to take that dough form the wealthy and GIVE IT to the consumers and we all know what would happen if that was done. (read CAPITAL FLIGHT OUT THIS NATION)

Neither does decreasing spending help as that simply exascerbates the unemployment problem.


The time to readjust the tax burden is AFTER we stabilize the economy.

THEN by all means DO create a truly progressive tax code.

But most of the things that might help, have nothing to do with taxation RIGHT NOW.

Change the TRADE LAWS and this economy would begin to thrive as increasingly industries would be developed here to take advantage of the increased costs on IMPORTED good.

THAT is the number one thing this nation must do.

Anything short of that is not going to work.

 

[yidnar]

Correlation doesn't prove causation.

OK libb tell us all how tax increases put more money in working Americans pockets!!and while you are sharing a small part of your infinite wisdom with us maybe you could also explain how tax increases on business owners help create jobs .....

 

[Annie]

People in IL are concerned about the causation:

Editorial: About those Illinois jobs, jobs, jobs - Chicago Tribune

...Time for a reality check. In the aggregate, Illinois is not creating jobs. The latest data show the opposite. Illinois is losing jobs. The Illinois Department of Employment Security pegs the state unemployment rate at 9.5 percent in July, up from 9.1 percent the previous month. During that period, the state lost 24,900 jobs, wiping out much of the modest gain it posted since effects of recession peaked in January 2010.

Local unemployment rates look even worse. Although the figures are not seasonally adjusted, and therefore provide a less accurate measure, they show how the jobs situation in all 12 Illinois metropolitan areas deteriorated during July, including in Chicago. In Rockford, the jobless rate shot to 12.1 percent, up from 11.6 percent the month before.

We can think of many reasons why Illinois is suffering. The national economy slowed over the summer, and Illinois often feels the effect of those tidal shifts before the rest of the country does.

Unfortunately, self-inflicted wounds also have discouraged economic expansion here. The state's 2011 tax increase on business and personal income springs to mind. Almost as disappointing, its recent, halfhearted effort to reform workers' compensation showed how even common sense measures adopted in neighboring states can't survive the gantlet of special interests in this one.

The most damaging failure: the inability at state and local levels to rein in government spending, especially by reducing unaffordable public-employee retirement obligations. Current and prospective employers have every reason to think Illinois pols will tax them to pay for ruinous public pension and retiree health-care giveaways. No wonder Indiana has rolled out a welcome mat for Illinois companies. No wonder some are prancing across the border.

On the same recent day Quinn visited a rail project on Chicago's South Side to make his dubious boast about creating "more than 1,200 jobs," Modern Drop Forge Co. announced plans to leave Illinois. It costs a lot for a heavy manufacturer to uproot itself and move the 30 miles or so from Blue Island to Merrillville, Ind. Modern Drop Forge did it anyway — pocketing a hefty incentive package from the Hoosiers in the process.

One business does not make a trend. But one business exterminating 240 very real jobs in Illinois ought to be a warning.

Instead of getting straight talk about the threat of companies moving out, however, Illinois residents keep getting lessons in creative math. For a state bleeding jobs, it's amazing how many jobs its officials claim to be generating.

Consider the Illinois Tollway's calculation that its planned $12 billion road-building agenda over the next 15 years would create 120,000 permanent jobs.

That's in addition to a purported 13,000 jobs annually from hiring construction workers, paying suppliers and then multiplying the effect of their additional spending on the rest of the economy.

 

[AVG-JOE]

RAISING TAXES during a period of monetary scarcity is not a good idea.

Neither is reducing government spending is good idea in times like these.

Note how one party wants to raise taxes while the other party wants to reduce spending?

Doesn't this make ANY OF YOU PARTISANS kind of suspicious?

Not at all?!

there is no scarcity of money it is just a distribution problem.

True enough.

There is a scarcity of money on the DEMAND side and a glut of dough on the SUPPLY side.

40 years of coddling the supply side WILL have that effect, after all.

But STILL...right now increasing taxes on the supply side will NOT help. Not unless the government was going to take that dough form the wealthy and GIVE IT to the consumers and we all know what would happen if that was done. (read CAPITAL FLIGHT OUT THIS NATION)

Neither does decreasing spending help as that simply exascerbates the unemployment problem.


The time to readjust the tax burden is AFTER we stabilize the economy.

THEN by all means DO create a truly progressive tax code.

But most of the things that might help, have nothing to do with taxation RIGHT NOW.

Change the TRADE LAWS and this economy would begin to thrive as increasingly industries would be developed here to take advantage of the increased costs on IMPORTED good.

THAT is the number one thing this nation must do.

Anything short of that is not going to work.

I disagree. I think step number one MUST be a ground-up rebuild of the tax code with fairness through simplicity the major goal.

You want to legislate a jobs incentive? Make non-executive payroll the one and only business income deduction before taxes are calculated, but make sure it applies across the board to all businesses, including the hiring of domestics.

I favor a blend of consumption and income taxes and I'm willing to bet that a 7% tax on all retail sales, coupled with a 7% tax on all income would pay the bills 'round here, ass-u-me-ing Medicare part D is changed from the Big Pharma giveaway that Bush and the lobbyists pushed through back in '03 to something that is actually designed with the consumer in mind.

Until taxes are addressed, we are simply spinning our economic wheels in the mud created by trickle down.

 

[NYcarbineer]

Correlation doesn't prove causation.

OK libb tell us all how tax increases put more money in working Americans pockets!!and while you are sharing a small part of your infinite wisdom with us maybe you could also explain how tax increases on business owners help create jobs .....

I'm still waiting for someone to tell me how tax policy caused Florida to have the second worst jobs numbers last month.

 

[editec]

there is no scarcity of money it is just a distribution problem.

True enough.

There is a scarcity of money on the DEMAND side and a glut of dough on the SUPPLY side.

40 years of coddling the supply side WILL have that effect, after all.

But STILL...right now increasing taxes on the supply side will NOT help. Not unless the government was going to take that dough form the wealthy and GIVE IT to the consumers and we all know what would happen if that was done. (read CAPITAL FLIGHT OUT THIS NATION)

Neither does decreasing spending help as that simply exascerbates the unemployment problem.


The time to readjust the tax burden is AFTER we stabilize the economy.

THEN by all means DO create a truly progressive tax code.

But most of the things that might help, have nothing to do with taxation RIGHT NOW.

Change the TRADE LAWS and this economy would begin to thrive as increasingly industries would be developed here to take advantage of the increased costs on IMPORTED good.

THAT is the number one thing this nation must do.

Anything short of that is not going to work.

I disagree. I think step number one MUST be a ground-up rebuild of the tax code with fairness through simplicity the major goal.

I actually agree with your idea that our tax codes need to be changed, I just don't think that NOW is the time to do it.

Also I doubt we'd agree on how those codes need to change, but let's agree to agree that we BOTH understande that the tax code is a diaster.

You want to legislate a jobs incentive?

I want to RELEGISLATE TRADE POLCIES. Right now our trade polcies are DISencentives to job creation in the USA.

Make non-executive payroll the one and only business income deduction before taxes are calculated, but make sure it applies across the board to all businesses, including the hiring of domestics.

I think you haven't thought this through very clearly. Should a business not be able to deduct the real costs of the manufacturing process?

Look, a truly simply tax code isn't really possible. There ARE resonable deductions that MUST be taken into account when computing taxes.

That is not to say that many deductions currently offered aren't bullshit, but we ought not to throw the baby out wqith the bath.

I favor a blend of consumption and income taxes and I'm willing to bet that a 7% tax on all retail sales, coupled with a 7% tax on all income would pay the bills 'round here, ass-u-me-ing Medicare part D is changed from the Big Pharma giveaway that Bush and the lobbyists pushed through back in '03 to something that is actually designed with the consumer in mind.

I don't really yunderstand your plan, so I'll refrain from commenting on it.

There's a LOT of way we need to change our tax codes, though, on THAT we agree.

Until taxes are addressed, we are simply spinning our economic wheels in the mud created by trickle down.

I guess on this issue we do not agree.

Taxes did not CAUSE this depression.

 

[NYcarbineer]

States whose UE rates have gone up alongside Illinois's upturn:

Unemployment in the U.S. - Google Public Data Explorer

All of those states raised taxes in January????

 

[bitterlyclingin]

There's traffic jams on all the roads leading out of California and New York, as well. Businesses don't survive well under a blizzard of new taxes and regulations but the the Democrats seem to think that no matter how severely they tax and regulate the businesses under their heel, they'll do just fine.
They obviously need to learn the hard way, by having their fingers and hands cut off when they try to enter through the open window looking for help.
Wouldn't you like to be a fly on the wall when the UAW comes to the Oval Office, cap in hand, looking for help when a Conservative Republican is sitting behind the desk instead?

 

[NYcarbineer]

There's traffic jams on all the roads leading out of California and New York, as well. Businesses don't survive well under a blizzard of new taxes and regulations but the the Democrats seem to think that no matter how severely they tax and regulate the businesses under their heel, they'll do just fine.
They obviously need to learn the hard way, by having their fingers and hands cut off when they try to enter through the open window looking for help.
Wouldn't you like to be a fly on the wall when the UAW comes to the Oval Office, cap in hand, looking for help when a Conservative Republican is sitting behind the desk instead?

New York had the biggest jobs increase last month. lol

 

[bitterlyclingin]

(One swallow does not a summer make. Even John Kerry had enough sense to register his luxury yacht in Rhode island where the taxes were less than in his homestate of Massachussetts. Then there was the former Democratic Speaker of the House, homestate of Illinois, who after retiring from Congress, went straight to Florida to establish his residence where the taxes were of course, less. Watch what the Democrats do, not what they say.)

"Oh, Carolina!

Italian-Americans from Brooklyn, African-Americans from The Bronx and New Yorkers from the suburbs are flocking to the once sleepy town of Charlotte buoyed by big business like Bank of America and lots of Big Apple transplants.

What has been dubbed the "New York phenomenon" swung into high gear around 2005, according to Erin Watkins, research director at the Charlotte Chamber of Commerce.

There were 2,000 tax returns filed in Charlotte's Mecklenburg County in 2009 by either individuals or married couples who filed in New York City or Long Island the year before, according to IRS data.


"The cost of living in New York is extremely high right now, while the cost of living in Charlotte is 93 percent -- 7 percent lower than national average -- where in New York City it is 140 percent, or 40 percent over the national average," Watkins said"


Read more: New Yorkers migrating to Charlotte, NC - NYPOST.com