Lame ducks run wild in Illinois

[ArlJim78]

On the last day of the lame duck session, the democrats came in under the cover of darkness, and somewhere around midnight these lame ducks gave Illinois residents the shock of a lifetime. Business owners in Indiana and Wisconsin are doing cartwheels this morning.

The state income tax will increase by a modest 67% from 3 to 5 %
Corporate taxes were raised a paltry 46% from 4.8 to 7%

Gov Quinn elected only two months ago promising not to raise the income tax more than 1% was not available for comment.

One of the first things that need to happen in this country is that we need to get rid of lame duck sessions. The congressional session should end the day before the election. Once the people have spoken it should be those representatives who cast the votes.

During the debate I guess one guy got dizzy and was carried out on a stretcher. Many Illinois residents are going to feel the same way when they start looking at their newly shrunken paychecks. Hey, a big shout out to the SEIU and the teachers! your campaign contributions paid off. congrats.

http://newssun.suntimes.com/news/3272800-418/tax-state-percent-income-vote.html

[DJofSD]

There was an offhand comment from Jon during FM yesterday. I didn't understand what he meant. Now, I do.

[Tom]

I agree - the day after the elections, all those voted out must leave and never come back nor vote.

Lame ducks negate checks and balances.

[lamboguy]

mark my words on this one, they are going to get less revenue by hiking these sales taxes. increasing tax rates during bad times NEVER works.
the reason why these guys are in trouble is because the pollitions stole to begin with.
they can sell off their assets like the state house, toll roads, lottery, jails and parks to bail themselves out. instead they want to steal more money from the citizens there. there will be plenty of people leaving there for greener pastures.

[ArlJim78]

they're going to need speed bumps or road blocks to stop the exodus.

[illinoisbred]

they're going to need speed bumps or road blocks to stop the exodus.
I'm thinking the same. How will home values ever recover....as soon as the slightest move-up in prices becomes evident,the market will be flooded with homes of those who want"out".

[prospector]

shame, my corporation was based in ill..if i still owned it, i'd been long gone
ya just can't keep taxing taxing taxing...guess they missed the election in nov..

[boxcar]

I'm thinking the same. How will home values ever recover....as soon as the slightest move-up in prices becomes evident,the market will be flooded with homes of those who want"out".

One is led to wonder what will eventually happen to all these foreclosed, abandoned or distressed properties. As many of us know, property ownership is anathema in Marxist philosophy. This philosophy basically teaches that the chief end of man is happiness (a really great godless world view :rolleyes: ), Marx insisted that that happiness must be pursued and could only be truly realized through collectivism -- through the collective community. Private property ownership, therefore, was considered to motivate individuals to think and act in the opposite direction of collectivism -- to cause individuals to become selfish -- to think and work for themselves and and earn money only for selfish purposes -- for the acquisition, support and maintenance of property.

These facts lead me to wonder if this Marxist administration will eventually buy up all these properties across the land from the banks (in the form of another necessary bailout, of course). After all, they have already bought up land, probably for the reason for restricting all manner of development for any purpose -- residential, commercial or industrial. What better time for the U.S. government to buy up all these properties in the name of the "public good" of course, since property values are so severely depressed? Couldn't ask for better value. And the banks would probably be very willing to unload because they, generally, don't like being in the landlord business.

Boxcar

[Robert Goren]

mark my words on this one, they are going to get less revenue by hiking these sales taxes. increasing tax rates during bad times NEVER works.
the reason why these guys are in trouble is because the pollitions stole to begin with.
they can sell off their assets like the state house, toll roads, lottery, jails and parks to bail themselves out. instead they want to steal more money from the citizens there. there will be plenty of people leaving there for greener pastures.Another myth. Clinton did it and the one of biggest boons in the history followed. It took 9/11 to end it. The business I managed during that time had growth that it had never seen before or since. Of course, like any manager, I took all the credit for it.;)

[skate]

OK ok ok , but how? hiow will you stop Lame Duckers...Can't be done, unless you hit the Pocket.

OK skate, how do we hit the pocket?

Welp. a, da, im thinking (at last) maybe we could "cut the Cable". It would get attention, take things from there, until that happens, the media will just keep on with the same old crap.

those cables tv co. are full of x-Politicians.

:)

[Tom]

Another myth. Clinton did it and the one of biggest boons in the history followed. It took 9/11 to end it. The business I managed during that time had growth that it had never seen before or since. Of course, like any manager, I took all the credit for it.;)

And thank Clinton for 9-11. And Al Qeda.
And when he left office, the economy was already sinking.
Other than that......:rolleyes:

[Striker]

Most of what has already been said here has been going on in Illinois(at least Northern ILL) for the last year or two. I already drive 20 minutes to grocery shop(no food tax in Wisconsin) prices are night and day on the same items compared to at my local grocery stores. I also get gas in Wisconsin. The savings in food and gas far outweigh the 40 minute round trip. I will be making plans to probably move there in the next year or so, luckily I am not a homeowner. I know some of the western suburbs like Schaumburg had their property taxes rise this past year which I do not understand how that can be validated. Chicago is numero uno in gas prices right now in the US on top of this tax increase.

[RaceBookJoe]

Another myth. Clinton did it and the one of biggest boons in the history followed. It took 9/11 to end it. The business I managed during that time had growth that it had never seen before or since. Of course, like any manager, I took all the credit for it.;)

It would be great to see how Clinton's actions would have turned up if there wasnt that little thing called the internet which made the markets soar. Anyone sitting in office at that time would have seen the exact same thing. Ps: the markets started turning down in 1998 by the way...it was only about a dozen or so companies that kept the markets as high as they were. At least you were smart enough to take advantage of that. rbj

[GaryG]

There are a few states with no state income tax. Tennesse :jump: is one of them. Wyoming, Florida and Washington I think.

[JustRalph]

There are a few states with no state income tax. Tennesse :jump: is one of them. Wyoming, Florida and Washington I think.

My future lies in one those states hopefully

[Valuist]

Another myth. Clinton did it and the one of biggest boons in the history followed. It took 9/11 to end it. The business I managed during that time had growth that it had never seen before or since. Of course, like any manager, I took all the credit for it.;)

Dot com bubble burst started a year and a half before 9/11.