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Old 01-12-2011, 04:32 PM
 
39 posts, read 75,902 times
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It seems Chicago has a pretty diverse job market within the loop area, according to what I've seen and this link About | World Business Chicago | Economic Development, Chicago, Illinois.

How does everyone see the future of Chicago in the white collar sense? I understand Chicago has always been known to be blue collar and that's fading out, I know this and I'm not interested in discussing it. I love this city and plan to move here soon but I'm in my mid 20's and want a successful career. I'm becoming a bit nervous, do you think a hike like this will hurt white collar businesses?
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Old 01-12-2011, 04:50 PM
 
126 posts, read 335,564 times
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Quote:
Originally Posted by GettaJetta View Post
How does everyone see the future of Chicago in the white collar sense? I understand Chicago has always been known to be blue collar and that's fading out, I know this and I'm not interested in discussing it. I love this city and plan to move here soon but I'm in my mid 20's and want a successful career. I'm becoming a bit nervous, do you think a hike like this will hurt white collar businesses?
There's really no good reason why a million people have to commute for two hours each day on the slow-as-molasses Dan Ryan, Eisenhower or the Kennedy to work in or near the Loop for white collar jobs that could just as easily be completed in South Bend, Indiana.

These tax increases make that idiocy even clearer. It's one thing if those tax increases went to real infrastructure improvements that will increase aggregate economic efficiency. But we all know that's not the case here.
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Old 01-12-2011, 06:09 PM
 
Location: Chicago
4,085 posts, read 4,333,359 times
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Quote:
Originally Posted by GettaJetta View Post
I'm becoming a bit nervous, do you think a hike like this will hurt white collar businesses?
Do they not teach this in college anymore?
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Old 01-12-2011, 06:44 PM
 
39 posts, read 75,902 times
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I guess asking if it will hurt businesses was a stupid question on my part. I guess I should have asked, how severe do you think a hike like this would be?
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Old 01-12-2011, 06:47 PM
 
Location: Chicago
4,085 posts, read 4,333,359 times
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Originally Posted by GettaJetta View Post
I guess I should have asked, how severe do you think a hike like this would be?
Well they are pretty much doubling the corporate tax rate, I would say that is not good.
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Old 01-12-2011, 07:11 PM
 
126 posts, read 335,564 times
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Double whammy for businesses: a huge tax increase on them and on their customers (lower revenue).

I'm praying we don't become West Detroit. All we need now are Harold Washington II and some race riots to bake in the cake.
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Old 01-12-2011, 07:14 PM
 
Location: Chicago
4,085 posts, read 4,333,359 times
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Originally Posted by james011 View Post
Double whammy for businesses: a huge tax increase on them and on their customers (lower revenue).

I'm praying we don't become West Detroit. All we need now are some race riots to bake in the cake.

Exactly, these taxes on business will even raise how much people pay for a beer at a bar, as if the prices in most bars are not high enough already.

Sales tax revenue will drop as corporate and individual taxes rise.
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Old 01-12-2011, 07:17 PM
 
39 posts, read 75,902 times
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They are also pushing away potential business owners and well educated people. I was reading how these taxes are only temporary, I don't believe that for a second. I've experienced my first account of Illinois government corruption and I haven't even moved there yet!
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Old 01-12-2011, 07:31 PM
 
Location: Chicago
4,085 posts, read 4,333,359 times
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Check this out:

"The new corporate tax rate would bring the total percentage Illinois corporations pay on income, including a separate personal property replacement tax, to 9.5%, one of the highest in the nation.That would make the corporate income-tax rate in Illinois the third-highest in the country when combined with an assumed 35% federal corporate income tax, following Pennsylvania and Minnesota, said Scott Hodge, president of the Tax Foundation, a conservative-leaning Washington research outfit. Illinois currently ranks 21."


Illinois's Tax Increase Has Business Fuming, Neighbors Courting - WSJ.com
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Old 01-13-2011, 07:15 AM
 
Location: Land of debt and Corruption
7,545 posts, read 8,323,498 times
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Even Mayor Daley said to watch for a mass exodus of businesses in wake of this corporate tax hike. Way to go idiots in Springfield.

The governor of Indiana was basically laughing at us and said that we are akin to the dysfunctional "Simpsons" family down the block. He's also welcoming any and all businesses to his state with open arms.

Daley says tax increase will send businesses out of state
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