Illinois income tax to shoot up 75%

[SammyJr]

If only Bill Brady had a few more votes.../sigh

He shouldn't have ran as a religious nutjob.

 

[SammyJr]

I see you know nothing about Illinois. Good roads, rofl

Compared to Indiana? Yes.

 

[IndyColtsFan]

Compared to Indiana? Yes.

Do you live in Indiana? I've not been to Illinois recently but I don't think the roads in Indiana are terrible.

 

[SammyJr]

Do you live in Indiana? I've not been to Illinois recently but I don't think the roads in Indiana are terrible.

I live in Illinois but get to see Indiana roads while visiting my parents' summer home in Michigan. In my experience, I-65 is a potholed mess. 80/94 has been under construction forever and is always a mess. 80/90 is ok but its a toll road. I haven't been on I-74 in awhile, but it was ok 10 years ago.

 

[EagleKeeper]

There is more to Indianna than the Lake Michigan loop.

Just like Illinois has more than the Greater CHicago in terms of road/people/land

 

[Zargon]

74/57/70 are all decent

 

[BurnItDwn]

Last I heard they changed the proposal from 75% to 66% increase, still a big increase with not enough being trimmed/cut from the budget, but it's at least an improvement.

The simple fact is that with most of the industry moving out of the state, there's a lot less jobs with decent income, and the state is spending MORE with less income because these people want to eat and they also would like to feed and take their kids to the DR.

No simple solution. No easy solution... There is a good amout of administrative inefficiency they could cut.... But ... any programs that they cut will cause lots of people to whine ... and unfortunately, people don't have the balls to do it.

 

[chucky2]

It doesn't really matter what % hike they do (unless one is right on the edge in not making enough $$$ for something critically major in their lives).

The % that matters is how much they've reduced the budget in lockstep with their increases. I truly don't know if they've done that or not, however, being IL, I suspect they've not done that at all.

Last I heard (if I heard wrong, I'll correct this post), they sent a budget to the Quinn that was 3+ Billion underfunded, and that's on top of already being way behind on payments.

Why do these governments (state, Fed) think it's acceptable to allow massive spending problems, raise taxes to alleviate them, and never tackle the thing that made the issue in the first place: Spending????

Do a 1 for 1 and they can raise my taxes to 50%, lets get it fixed....

Chuck

 

[SandEagle]

Tax their land, tax their wage, tax the bed in which they lay.
Tax their tractor, tax their mule, teach them taxes are the rule.

Tax their cow, tax their goat, tax their pants, tax their coat.
Tax their ties, tax their shirts, tax their work tax their dirt.


Tax their chew, tax their smoke, teach them taxes are no joke.
Tax their car, tax their grass, tax the roads they must pass.

Tax their food, tax their drink, tax them if they try to think.
Tax their sodas, tax their beers, if they cry tax their tears.

Tax their bills, tax their gas, tax their notes, tax their cash.
Tax them good, and let them know, that after taxes they have no dough.

If they holler, tax them more, tax them till they’re good and sore.
Tax their coffin, tax their grave, tax the sod in which they lay.

Put these words upon their tomb: “Taxes drove them to their doom!”
And when they’re gone, we won’t relax, we’ll still be after their inheritance tax.

 

[blinblue]

I have lived in Illinois for the past 5 year now, 3 in Chicago and 2 in the (far) suburbs. The thing that really pisses me off about Illinois is that, as others have mentioned, we get taxed like crazy, our state is way in debt, and we have one of the EASIEST states in the US to take care of.

Think about it for a second. Illinois has very simple geography, (no mountains, no stretches of desert), fine weather (no hurricanes, only bad weather worth mentioning are the occasional tornado), plenty of fresh water, a big city and many industries based out of it, lots of farmland.
Yet we can't balance a freaking budget, its embarrassing. Seriously, how pathetic are we? Probably mostly due to Chicago being the epicenter of just wonderful fiscal and political responsibility.


The good news is that states can't print money, and they can only keep borrowing for so long before people stop lending.

 

[Zargon]

Last I heard they changed the proposal from 75% to 66% increase, still a big increase with not enough being trimmed/cut from the budget, but it's at least an improvement.

The simple fact is that with most of the industry moving out of the state, there's a lot less jobs with decent income, and the state is spending MORE with less income because these people want to eat and they also would like to feed and take their kids to the DR.

No simple solution. No easy solution... There is a good amout of administrative inefficiency they could cut.... But ... any programs that they cut will cause lots of people to whine ... and unfortunately, people don't have the balls to do it.

its gone from 3% to 5%

there is admin overhead they can cuty

the problem is they laid off all the peeople that do real work and left the upper management around. the capital is a ghost town and some departments that were in double digits of employees now have 2 or 3 and are months behind because there is too much work to do for those people.


the first thing Quinn did was reinstate about 40 mil in expenditures that the state senate had cut. hes already setting a real bad precident.

 

[BurnItDwn]

its gone from 3% to 5%

there is admin overhead they can cuty

the problem is they laid off all the peeople that do real work and left the upper management around. the capital is a ghost town and some departments that were in double digits of employees now have 2 or 3 and are months behind because there is too much work to do for those people.


the first thing Quinn did was reinstate about 40 mil in expenditures that the state senate had cut. hes already setting a real bad precident.

Right, but, the overhead doesn't account for nearly enough.
They will neeed to go in there and really cut up some programs that people depend on to cut enough. They need to make some real tough decisions. Cutting out useless administrators is a no brainer, but it's only part of the solution.

 

[OCGuy]

Yay democrats!

 

[chucky2]

Yay democrats!

Silence!!!

The (Dem) Science has Spoken!!!



Chuck

 

[BurnItDwn]

Yay democrats!

IL voted pretty heavily towards Republicans between 72 and 88... And during that timeframe, they were taking out a hell of a lot of new debts... since then ... the democrats just continued the trend, however, both parties are to blame. Only a shallow fool ignorant in all things reality would see this as a "democrat" problem.

The solution is clearly to cut a hell of a lot of costs (similar to what Indiana has done), and raise taxes (only if necessary to pay off the debt in 15 years time.)

 

[OCGuy]

IL voted pretty heavily towards Republicans between 72 and 88...

Sorry, that was funny...going back to the 70s to justify how the Dems have raped that state since?

 

[lord_emperor]

After 4 years the income tax will go back down to just above of what it is now...supposedly. Just like the toll roads here were supposed to go away...

Just about every tax in Canada was created to fund The Great War.

 

[K1052]

Sorry, that was funny...going back to the 70s to justify how the Dems have raped that state since?

Pensions have been underfunded for decades by both parties all across the country. This is why the state is facing $80B+ in unfunded pension liabilities and a yearly shortfall of pension funding of $5B and growing. The total unfunded pension liabilities for all states is something like $1.5T

 

[Zargon]

the state has been *stealing* from the pensions, not just underfunding them. especially lately. the state leg tried to get into my pension 3 times in the last 5 years with bills, but we staved them off.

 

[Jiggz]

I see something productive with this "tax increase without any spending cut" unprecedented move by IL. It will prove once and for all the "holy grail" argument between conservatives and liberals with regards to taxation; i. e., "Does tax increase improves gov't revenues or does it decreases it?" We should find out by 2012.

 

[piasabird]

Illinois also increased the speeding ticket from $75 to $120. So look out for the cops. I think they should draw a big circle around Chicago and just increase their taxes. This is getting rediculous.

Illinois could save a bundle if they just moved the state capital to Chicago. That way all the government cronies in Chicago would not have to drive/fly/train down to Springfield.

 

[EagleKeeper]

I see something productive with this "tax increase without any spending cut" unprecedented move by IL. It will prove once and for all the "holy grail" argument between conservatives and liberals with regards to taxation; i. e., "Does tax increase improves gov't revenues or does it decreases it?" We should find out by 2012.

Does it increase the revenues above the tax itself?

 

[umbrella39]

Move. Problem solved. Pissing and moaning stops.

 

[BurnItDwn]

Sorry, that was funny...going back to the 70s to justify how the Dems have raped that state since?

I'm just saying that when the republicans were in charge, they were raping the state just the same. It's not a problem with one party, it's a problem with both major parties.

 

[K1052]

Does it increase the revenues above the tax itself?

Included in the legislation is a 2% hard cap on spending for the next four years. Most of that is expected to be consumed by pension obligations and debt service. If the state spends more the tax increase automatically rolls back.

The state is going to have to continue to cut programs/pensions and drum up new sources of revenue.