Posted on 07/02/2017 4:53:43 PM PDT by ForYourChildren
Total capitulation by Governor Bruce Rauner is in the works. The taxoholics wore him down.
In the emergency session, Rauner has agreed to hike the personal income tax rate to 4.95% from the current 3.75%. The corporate income tax rate will rise to 7% from the current 5.25% rate.
For what? Nothing. Reforms are nonexistent.
Another Deadline Come and Gone
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(Excerpt) Read more at mishtalk.com ...
Will the last sane person to leave Illinois please turn off the lights?
Why did this fool ever run for governor? He had to know there wasn’t a chance in hell of getting any cooperation from the Rats. Vanity? It was a fool’s errand. Now Republicans will be blamed for everything that is wrong with Illinois politics and government.
You really have to admire republicans for the way they hold so dearly to their principles.
Won’t help
Given the situation, tax hikes are likely to create lower net revenues as mobile money flees the state.
All it will do is put even more pressure on the beleaguered middle class that is being crushed by Democrat politics and cause more business to flee the state.
The issue is probably moot because the state’s problems are caused by the political insanity of the Democrats in power and nothing is going to stop the states downward spiral to eventual bankruptcy unless major reforms are put on place.
As with all government employees, there’s a sweet pension payment coming his way
Really, there is not much he can do. The state government is controlled by a true fascist dictator named Michael Madigan, who is the quintessential machine politico who wields extreme power over the state government. He is a Chicago Dim, and the Dims dominate and control the state general assembly and routinely elect him Speaker. Madigan has been the Speaker ever since 1983, all except for a two year period in the min 1990s. Madigan is everything wrong with Illinois politics. He orchestrated his inexperienced daughter Lisa into the Attorney General’s office. Think about it: A young lawyer who had never tried a case in her life was elected to the highest law position in the state. The patronage and corruption that is Chicago dominates the state.
Having a real estate person over next week.
We got out 7 yrs ago when they raised the state income taxes 66% OVERNIGHT!!!
Ah tax increases. Brilliant! A well thought out strategy. Illinois will be back in business in no time.
And they will wonder that it didn’t work...
Hastening the exodus.
The Rats have yet to do for an entire state what they did for Detroit. Now it’s a race to see which can be first, Ill. Is in the running. CA strong second.
I escaped in 2012 but still have family behind the iron curtain.
I’m visiting there next week so I hope they don’t liquidate the state before I can get back out - or they might sell me into the white slave market to pay some bills.
Probably charge me a Yuge exit tax at the border of 2-3 Million dollars.
People and businesses: Vote with your feet. There are many more tax-reasonable states welcoming you. Leave your liberal ideas where they are.
Losing.
Seems logical to me. Spending out of control? Raise taxes!
Illinois will collect a larger percentage of fewer incomes and initial accounting tricks will show a marginally increased revenue that will turn out to be a decrease over the previous year’s.
The guy spent $20,000,000 of his own money to get elected. Any pension is meaningless to someone like him. And that's assuming the pension fund doesn't go bankrupt and is unable to pay its obligations.
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