Did you hear the news?

Double the State Tax rate.


Of course, that means that those people who have the most expendable income will be able to spend less, causing the already slow economy to slow down even more. And, likely, those who make more have larger/more expensive homes and pay more in property tax too. Actually, I don't have a problem with a graduated tax scale and stairstepping it up as income increases, but DOUBLE!?!?! That's economic suicide! I will be contacting my state rep and state senator. I encourage all of you to do the same. Even if your income is not above the threshold, consider the ramifications on your family income if people who have greater means now spend less money on many, many things because they are paying so much more in taxes. The ripple effect of such a dramatic increase is scary.

It amazes me that there are only 107,000 people in IL that make over $250K. I think I know 53,000 of them. Seems low.

107,000 eh? I'll bet you can cut that by at least a third with these three magic words: Married filing separate.

And for those on the border - "umm. . . no raise for me thanks . . . how about another week of vacation instead?"

quote:

Originally posted by Amy:
Did you hear the news?

Double the State Tax rate.


Of course, that means that those people who have the most expendable income will be able to spend less, causing the already slow economy to slow down even more. And, likely, those who make more have larger/more expensive homes and pay more in property tax too. Actually, I don't have a problem with a graduated tax scale and stairstepping it up as income increases, but DOUBLE!?!?! That's economic suicide! I will be contacting my state rep and state senator. I encourage all of you to do the same. Even if your income is not above the threshold, consider the ramifications on your family income if people who have greater means now spend less money on many, many things because they are paying so much more in taxes. The ripple effect of such a dramatic increase is scary.

Good luck getting representation from "dumb" and "dumber"...actually in this case, its "dumber" and "dumb", respectively...or "more worthless" and "worthless."

Where's GUS?

Establishing residence in another state.

quote:

Establishing residence in another state.

I can confirm that...the state of denial.

Dear Amy: does this proposed tax hike suprise you? We've already heard about it from 1 Chicago state rep. They now call it the Robin Hood tax. As I said before, it's the far left dems playing the social card in conjunction with the race card which could be most inflammatory. That's the reason I can in no way shape or form vote for the dems under their current policies. Interesting to note that Blago does not favor a hike in the state income tax but favors higher sales and RE taxes which now does not seem even to bridge the budget deficit of cook county in 2009. You are correct: a massive hike in both state and federal taxes will surely push this state and country into a deep recession. That's my prediction anyways, for what it's worth. We all better start saving our pennies.

These idiots never look at the disease in order to find the cure.

I'm glad your coming back our way my dear Amy!

I was always on the fiscally conservative, socially liberal side of things so don't think your winning me toward any side!

But Amy, to afford many of these liberal programs, tax receipts are needed. In MOST, not all, one doesn't come without the other. I have found a great many liberals and dems in GE that talk a great game, but when it comes to bellying up to the bar to pay the tab, their tastes all of a sudden change.

Not true of me. I even said, I could support a graduated tax system where the percentage does increase - say, one percent for every 100,000 over 250,000 with a maximum of 6% - but outright doubling on a family income over $250,000? That's outlandish! I'll pay when I know my taxes are being used efficiently, effectively and for solid programs. And I'll pay a slightly higher percentage if I make more. It's the DOUBLE thing that I take issue with.