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Old 06-25-2011, 11:54 PM
 
Location: San Antonio, Texas
589 posts, read 375,667 times
Reputation: 123

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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.


Pain From Tax Hikes Loom in 2012 - The Tax Blog - SmartMoney

2012 shouldn't be a good year for Illinois...
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Old 06-26-2011, 12:06 AM
 
45,137 posts, read 26,325,093 times
Reputation: 24873
Quote:
Originally Posted by Flize View Post
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.


Pain From Tax Hikes Loom in 2012 - The Tax Blog - SmartMoney

2012 shouldn't be a good year for Illinois...
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.
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Old 06-26-2011, 01:04 AM
 
1,495 posts, read 2,295,435 times
Reputation: 811
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
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Old 06-26-2011, 06:13 AM
 
58,749 posts, read 27,092,933 times
Reputation: 14186
Quote:
Originally Posted by j_cat View Post
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.
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Old 06-26-2011, 07:25 AM
 
1,495 posts, read 2,295,435 times
Reputation: 811
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Originally Posted by Quick Enough View 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.
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Old 06-26-2011, 07:26 AM
 
Location: Portland, OR
8,802 posts, read 8,881,942 times
Reputation: 4512
Quote:
Originally Posted by j_cat View Post
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
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Old 06-26-2011, 07:28 AM
 
1,495 posts, read 2,295,435 times
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Originally Posted by VTHokieFan View Post
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?
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Old 06-26-2011, 07:38 AM
 
Location: Portland, OR
8,802 posts, read 8,881,942 times
Reputation: 4512
Quote:
Originally Posted by j_cat View Post
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
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Old 06-26-2011, 07:49 AM
 
Location: San Antonio, Texas
589 posts, read 375,667 times
Reputation: 123
Quote:
Originally Posted by VTHokieFan View Post
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


He's jealous
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Old 06-26-2011, 07:55 AM
 
1,495 posts, read 2,295,435 times
Reputation: 811
Quote:
Originally Posted by VTHokieFan View Post
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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