Posted on 01/12/2011 5:39:21 AM PST by bestintxas
The Illinois House passed a massive income-tax increase to help the state dig out of a $13 billion deficit, despite opposition from Republicans and business groups.
The measure passed by a vote of 60 to 57 and now goes to the Illinois Senate Wednesday morning, where it was expected to pass as early as Tuesday night or early Wednesday morning. A new legislature, with narrower Democratic majorities in both houses, will be sworn in at noon Wednesday.
Among the increases in the bill, the individual income-tax rate would jump to 5%, from 3%. That would cost a family of three making $60,000 about $1,080 more each year in income taxes, according to figures from the Illinois Policy Institute, a nonpartisan free-market think tank. The corporation tax would also rise to 7% from 4.8%.
Gov. Pat Quinn came to the House floor to shake hands and congratulate lawmakers after the vote. "So far so good, but we have work to do; we've got to work with our senators," he told a reporter before getting into an elevator after the vote.
Proponents said the bill was necessary to forestall a wave of public and private defaults, layoffs and foreclosures if the state didn't start paying its bills.
"The wolf is at the door ladies and gentlemen," said Democratic Rep. Greg Harris.
(Excerpt) Read more at online.wsj.com ...
I do not know what is wrong with people in that state who keep electing people who want to take their money, as well as obvious fools like Carol Braun, Blagojevich and Obama, and crooks like Rostenkowski, Jackson and now Rahm Emmanuel.
Gee, I guess I figured it out: they are ALL Democrats.
Sounds like good news for the republican party...the voters have been seriously “bitch slapped” by democrats and will remember....
You guys need signs at all inbound state borders (especially those from the north and west) saying, “U.S. Citizens Welcome Here -Leave Your Liberal Ideas Back in the Worker’s Paradise You’re Fleeing.”
Not to worry. All of those fleeing Illinois can move to one of the states next door— with Republican governors.
GOD I hate this People’s Republic; can’t wait to get back home to Tennessee.
I’m just sick about this. I wish I could move out of this God-forsaken state, but with housing prices the way they are, I’d probably lose my shirt.
And the people of Illinois, obedient little followers that they are, will just yawn and bend over while saying, ‘yes sir, may I have another.’
Idiots.
With Texas having a deficit of $27 Billion, there isn’t much demand for citizens fleeing other states, where they have been getting higher government benefits and would vote accordingly.
If Texas could send Mexico’s school children and its citizens incarcerated here back across the border, it would help.
You could get a good price if you bought somewhere else so it's a wash. You would lose no house wealth other than the transaction costs.
[I do not know what is wrong with people in that state who keep electing people who want to take their money, as well as obvious fools like Carol Braun, Blagojevich and Obama, and crooks like Rostenkowski, Jackson and now Rahm Emmanuel.]
Quinn won the election by winning in only three counties. Cook,where Chicago is located, Champaign,where the UofI is located,and one other.
Texas is not the place for them.
“Every year, people in Chicago start falling over dead when the thermometer tops 90.
Texas is not the place for them. “
There are air comditioners in Texas, last I heard.
My 90 year old Mom in Austin does just fine.
I live in Illinois, so I know that Gov. Quinn won four counties. He didn’t win Champaign Co. I think that he won Cook, Alexander, Jackson, and Madison Counties.
Let's just be honest, all the states, with maybe the exception of some Northern Great Plains states where no one lives, are in deep, deep, trouble.
Uncle Sugar is in the deepest trouble of all. Something's going to break not too far in the future.
He won in St. Clair (East St. Louis, big surprise), Cook (Big surprise) and Alexander counties (which if anyone has been there, also not a big surprise).
I stand corrected. I live in Farmer City in Dewitt Co.
Politicians and unions will soon be forced to admit that they must make cuts in pension and benefit packages. But first, they will raise taxes as far as the public will tolerate and build in protection devices that make it more and more difficult to make changes. Recently, they made a lot of noise about the huge cuts they sustained as their part of the debate. It seems to me that mose or all of those cuts came in the form of cuts for NEW HIRES! I didn't see much about cuts for current employees or retirees and their dependents.
I would love to see journalists begin to do stories about union and government retirees and their lifestyles. Visit a retired UAW line worker at his condo in Boca Raton. Take a ride on his boat or in his new car (discounted, I'm sure). Visit a retired government worker at his "vacation home" in Tuscany. Check out the retired teachers, firemen, policemen, etc. spending Winters in their upscale golf course homes in Florida and Summers in their homes up North. Ask all of them about their out-of-pocket health care expenses. Ask if they have dental, vision, hearing coverage. I wish John Stossel would pick up this theme.
My point is, our society went from thinking we owe the elderly a "comfortable" retirement to owing them a "luxury" retirement! It is going to come to a screeching halt! But, not before Obama and company find ways to funnel tons of our tax money to their underfunded accounts. And, not before the unions place stopgaps in place to save as many benefits as possible.
I don't mean to sound bitter. The secrecy surrounding so many of these retirement funds is frustrating to us regular, private work place employees and retirees! If you are one of these retired people and you disagree with my assumptions about your retirement, please let me know. Since UAW retirement packages are such a secret, I have to make assumptions. I've read that, in addition to very generous monthly pension payments, UAW retirees enjoy health benefits FOR LIFE (no Medicare) and those benefits include hearing, dental and vision coverage. If true, this is huge compared to those of us living off our investments and buying our own limited health insurance. Reaching the age of Social Security and Medicare is huge, but those are nothing compared to the benefits described above. Don't give me the argument that "we pay for these benefits". So do we! Medicare takes $100 a month out of SS. Add in supplemental at $200 each and we are paying about the same as when we had our own private insurance.
Living in Florida myself, I know a lot of the very retirees I'm talking about. Yes, I live a very comfortable retirement. Go ahead and take a cheap shot if you want. But, I provided for my own retirement. No pension, no health benefits. Just my own investments!
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