IL state income taxes to go up 75%?!?!?!?!?!

Discussion in 'Economics' started by Maverick74, Jan 7, 2011.

  1. stop giving them jobs. throw the employers in jail. my state is just like texas. they advertise low taxes and low wages so crappy employers like meat packing plants come in and get state money to build a new meat plant. they pay crappy wages and working conditions are horrible so americans wont stay long and before long the town where its located is full of legal immigrants that cant support themselves and they land on the welfare roles. pretty soon illegals follow the legal ones and the whole place turns into a 3rd world shithole. its the employers that start the process.
     
    #31     Jan 7, 2011
  2. clacy

    clacy

    That should help the IL economy. An extra 2.25% off the citizen's top line.......LOL
     
    #32     Jan 7, 2011
  3. Illinois is ranked #23 in cost of living in 2009.
    In business friendliness, Illinois is ranked #43.
    Illinois will increase income taxes by 75%, and corporate taxes by almost 100%, which will bump down these rankings. [​IMG]
     
    #33     Jan 7, 2011
  4. Excellent point.
     
    #34     Jan 7, 2011
  5. Give it time, I don't expect these longer term demographic changes to happen overnight. Regarding "African" leadership as you kindly put it, go visit some of the websites listing councilman, and various high profile city government posts, it's very, very "African".

    Regarding the exchanges, in the other post. Since open outcry is essentially dead, and who knows how many jobs have been shed from the exchange, 15-20 years from now, the exchanges will simply be a relic of a past era, it's not as though they will anchor tenants in that city.
     
    #35     Jan 7, 2011
  6. I read an article the other day that Illinois still owes $771million to businesses for tax refunds dating back 2 years now. That's not just for large conglomerates, many small businesses are owed five figures and have had to either close up shop or make serious adjustments due to the state's policy of screwing business owners to pay off its union constituents pension plans.
     
    #36     Jan 7, 2011
  7. Bob111

    Bob111

    #37     Jan 7, 2011
  8. zdreg

    zdreg

    how do u attract american workers when they work for six months and then collect 2years of unemployments benefits for staying at home. how do u get american workers when fringe benefits for government workers are much greater than in the private sector?
     
    #38     Jan 7, 2011
  9. Zdreg:

    Word from the FED, "High unemployment will continue for 5 years ". In other words, real unemployment will stay above 10% for the next decaded.

    No way to slice it, Poverty welfair will be the next step for most of the unemployed as there is very little job creation....for the next decaded.

    So the cheerleaders, pundits and idiots can ra ra the "Drop" in layoffs but the writting is on the wall.

    Morgan Stanley has GDP at 4% by 3rd to 4th quarter into 2012. This will not create jobs. The GDP growth if even near 4%, will allow better margins for Public Companies and manufacturers. Private Companies did not lay off as much as the Public Companies but I doubt they will hire as well.

    Simple fact. The bar is so low it is easy to "create" the image of a "Recovery". The reality of the fact is we are not recovering, just limping along.

    Of course human nature will create another bubble, consumers will get in more debt once credit avalable and the Sheepole will be taken to the slaughter for the second time in a decaded.

    IMHO March/April we are going to have a serious second storm....the clouds are on the horizon.
     
    #39     Jan 7, 2011
  10. hhhhhhmmmmmm, this is ludicrous. Take a look at Florida. No income tax policy, lower sales tax at city and county levels, and the state sees revenue growth.

    I was born, raised, and currently live in Chicago, and can honestly say I'm considering a move.
     
    #40     Jan 7, 2011