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Illinois this week earned the honor of becoming the first state in 2011 to sock it to taxpayers, passing a tax hike the size of Lake Michigan. Citizens cried out, legislators deflected, but the most interesting response came from neighboring Wisconsin, where newly elected GOP Gov. Scott Walker had three words for Illinois businesses: "Escape to Wisconsin."
Across the country, dozens of new governors are taking office, fine-tuning state-of-the-state addresses, polishing budgets. With each event we are seeing a growing national divide.
On one side are wide swathes of the country that this past midterm elected reformers intent on slashing spending and reviving growth. On the other are the holdout pockets—Illinois, California, Massachusetts, Connecticut—drifting further into the abyss of tax and spend. The chasm has huge implications, not just for local and regional politics but for Washington.
Mr. Walker is painting that gulf as big as the Grand Canyon, this week blitzing the Chicago media markets to let suffering Illinois businesses know that while their governor, Pat Quinn, levies a 50% increase in corporate income taxes, Wisconsin is working to enact the total elimination of corporate income taxes for two years for firms that migrate. The "Escape to Wisconsin" line comes from an old tourism campaign, but Mr. Walker thinks it sums up the business choice perfectly. "We're going to send out that line to every employer in the state of Illinois," he tells me.
"A steel company plans to relocate its North American headquarters to Chicago, brings at least 70 new full-time jobs to the city.
Illinois Gov. Pat Quinn announced Thursday that the steel producer Evraz is making the move thanks to a business investment package worth about $3 million from the Department of Commerce and Economic Opportunity. The package includes tax credits and job training funds.
The governor’s office says the $4 billion steel manufacturer employs about 4,000 people in three states and Canada. AP"
And my favorite, IL taking jobs from Indiana!! Woo hoo!
"Fort Wayne Navistar workers are finding out who is invited to Illinois and who gets left behind. “We are at the earliest stages of communicating with our employees,” said Steve Schrier, a spokesman for Navistar.
Schrier said that this week, company officials have been providing the roughly 1,400 workers at Navistar in Fort Wayne with the details of relocation offers. Not everybody is in line for those offers. A significant minority of workers at the company's facilities here won't be invited to Illinois...
And still the apologists do their bidding, ignoring the fact that the tax increase does not address the fact that Illinois will still be deficit spending.
Ozzie, WTH are you smoking? The corporate rate in IL went from 7.3% to 9.5%.
Quote:
The recent move by Illinois lawmakers to increase the state's corporate tax rate from 7.3 percent to 9.5 percent is further evidence that no tax change is made in a vacuum.[1] Not only did the rate hike move Illinois from having the 21st highest overall corporate tax rate among the 50 states to having the 3rd highest, it also raised the average corporate tax rate for the nation as a whole, thus inching the U.S. closer to Japan as having the highest corporate tax rate among the leading industrialized nations.
Oh, right. So my pointing out that your post/graphic was completely off base/wrong/blatantly false then equates to me needing to simmer down. LOL! Nice deflection.
"A steel company plans to relocate its North American headquarters to Chicago, brings at least 70 new full-time jobs to the city.
Illinois Gov. Pat Quinn announced Thursday that the steel producer Evraz is making the move thanks to a business investment package worth about $3 million from the Department of Commerce and Economic Opportunity. The package includes tax credits and job training funds.
The governor’s office says the $4 billion steel manufacturer employs about 4,000 people in three states and Canada. AP"
And my favorite, IL taking jobs from Indiana!! Woo hoo!
"Fort Wayne Navistar workers are finding out who is invited to Illinois and who gets left behind. “We are at the earliest stages of communicating with our employees,” said Steve Schrier, a spokesman for Navistar.
Schrier said that this week, company officials have been providing the roughly 1,400 workers at Navistar in Fort Wayne with the details of relocation offers. Not everybody is in line for those offers. A significant minority of workers at the company's facilities here won't be invited to Illinois...
It was BEFORE the tax increases, next year you'll feel the effects in population growth and businesses moving to Indiana/Texas/Florida (not sure about Wisconsin, it's pretty high-taxes for the moment).
Tax increases effects aren't there yet, wait next year, when people will pay the bill.
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