Real Pain From Illinois Tax Hike Looms in 2012 (party, Maryland, elect)
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Hiking the state’s income tax from 3% to 5% (that’s a flat rate for all individuals) amounts to a stunning 67% increase in the income tax rate.
For a family of four making $60,000 a year, that’s another $1,040 in taxes. For a family making $100,000, that’s another $1,840. But as bad as that sounds, this year, many residents won’t see much change in their overall tax burden, thanks to that temporary federal tax cut. But they’ll really feel it once the federal break disappears in 2012. At that point, they’ll see what is effectively a 4-percentage point jump in taxes over 2011.
Hiking the state’s income tax from 3% to 5% (that’s a flat rate for all individuals) amounts to a stunning 67% increase in the income tax rate.
For a family of four making $60,000 a year, that’s another $1,040 in taxes. For a family making $100,000, that’s another $1,840. But as bad as that sounds, this year, many residents won’t see much change in their overall tax burden, thanks to that temporary federal tax cut. But they’ll really feel it once the federal break disappears in 2012. At that point, they’ll see what is effectively a 4-percentage point jump in taxes over 2011.
If it were not robbed by the government, that money would be put to so much better use in the private sector.
As such,businesses and individuals will all suffer just a little bit more.
Anyway, this belongs in the Illinois forum. It is not a national topic. As much as I'm flattered by all the attention our state seems to get, it really should not be that interesting to the rest of you.
Last edited by CaseyB; 06-26-2011 at 10:51 AM..
Reason: response to deleted quote
Nope. Anyway, this belongs in the Illinois forum. It is not a national topic. As much as I'm flattered by all the attention our state seems to get, it really should not be that interesting to the rest of you.
I disagree. This is an open forum and anyone can post what they want. I'm sure people from Illinois had things to say about Wisconsin.
Several states have elected repubs in order to get themselves out of the hole the dems put them in.
The repub states are cutting costs, getting public union people to START contributing to their own heath care and retirement.
These states are recovering.
The purpose of the post, IMO, is to show the path Illinois is taking and comparing the different actions and the results.
If you can't handle it, stay away. No one is forcing you to read or comment on any post.
I disagree. This is an open forum and anyone can post what they want. I'm sure people from Illinois had things to say about Wisconsin.
Several states have elected repubs in order to get themselves out of the hole the dems put them in.
The repub states are cutting costs, getting public union people to START contributing to their own heath care and retirement.
These states are recovering.
The purpose of the post, IMO, is to show the path Illinois is taking and comparing the different actions and the results.
If you can't handle it, stay away. No one is forcing you to read or comment on any post.
Almost zero of the fifty states are experiencing any significant recovery. Trying to correlate recovery with party alignment is politics at its most shameless.
Nope. Anyway, this belongs in the Illinois forum. It is not a national topic. As much as I'm flattered by all the attention our state seems to get, it really should not be that interesting to the rest of you.
Must be a liberal from Illinois who doesn't want to be proven wrong
Once again I'm flattered. Is your own state really so boring?
Yeh. Virginia is too well run, considered the 2nd best state to do business in and the 9th freest state overall, so yeh not much going on here, kinda boring
Yeh. Virginia is too well run, considered the 2nd best state to do business in and the 9th freest state overall, so yeh not much going on here, kinda boring
Yeh. Virginia is too well run, considered the 2nd best state to do business in and the 9th freest state overall, so yeh not much going on here, kinda boring
Virginia gets a huge chunk of government business, while DC's poor are conveniently over on the Maryland side. I enjoyed Virginia when I lived in the area, but you gotta give credit where it's due.
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