Illinois to raise income tax by 50% (private school tuition, deductible, property taxes)

[allydriver]

Originally Posted by whatsthebigdeal

but always hoping China will pay the bills is?

What are you talking about and anyway what does this have to do with the propsed tax hike in Illinois
Stay on topic please.

[Basekamp]

Maybe they can take that money and create some more prisons...

[linicx]

I am not okay with it, but what can one person do?

By the way hamiltonra25, rhere are counties and cities in Illinois that have zero public transportation. I live in one of them. Would you have poor people who live in the county walk five miles with a sick child to see a doctor?

I am in favor of a 1/4 or 1/2 cent national tax that has a sunset, no loop holes, no write-off and cannot be used for anything expcept to reduce the national debt. .

[Badday]

I haven't heard anything about a 50% tax increase on income, where did that story come from, and if it is true it is bullshi...you know what. I'm gona find out. On another note, folks Free Trade and NAFTA has caused all this. If you don't have tarriffs on imports you lose your tax base, use to be when other countries did business with us, they paid higher tarriffs, and this paid our taxes. If this is true about the higher income taxes, then the good representatives in the house need to be fired.

[linicx]

The local news channel reports Quinn is asking for a 3% raise. A family of 4 with an inclome of less than $57,000 will not be affected.

[60-minutes-II]

Originally Posted by whatsthebigdeal

what is wrong with a little socialism if it helps to stimulate capitalism? As the value of the Euro has shown people, it is possible.

sorry dude. It doesn't help stimulate capitalism when the politicians give projects to friends who charge a lot more just so that the management and politicians can both get rich. That doesn't work for capitalism.

[surlycue]

Originally Posted by allydriver

So you are OK with the proposed tax increase then?

I am okay with increasing the income tax to 4.5% if the across the board taxes are lowered (is is the theory for individuals making under 250K). I don't necessarily think that will work out though. I can't help but to be hesitant when democrats suggest lowering taxes but I am waiting for the pieces to fall where they will before I judge.

[michelle29]

I live in Milwaukee and was going to move to Chicago later this year. When I read about how much y'all income is here, I wish I could move faster. I pay 6.50% in income taxes and our sales tax is 5%. Chicago is looking real good right now.

[coldwine]

Originally Posted by linicx

I am in favor of a 1/4 or 1/2 cent national tax that has a sunset, no loop holes, no write-off and cannot be used for anything expcept to reduce the national debt. .

The problem with this is that we would need a significantly higher tax just to pay off the interest alone. We don't have enough money to pay principal, much less interest.

We've been through this before, but we had that whole "destroy the Soviet Union and go from creditor to debtor nation" plan to prolong the disaster.

[Mamama Mia]

I'm fine with the increase, actually. The flat tax rate has been the same since 1989, Illinois' rate is the lowest of all states (except those few who don't have a state income tax) and there is plenty that needs to be accomplished.