Y2HH Posted January 11, 2011 Share Posted January 11, 2011 I oppose it. Link to comment Share on other sites More sharing options...
NorthSideSox72 Posted January 11, 2011 Share Posted January 11, 2011 QUOTE (Y2HH @ Jan 11, 2011 -> 02:06 PM) I oppose it. As do I. Giving teachers career carte blanche because they reach a certain seniority threshold is institutionally stupid. It helps no one other than themselves. Link to comment Share on other sites More sharing options...
Balta1701 Posted January 12, 2011 Share Posted January 12, 2011 By the way, this data is a bit out of date but it's worth highlighting in this discussion...here's the ranking of average state tax rates as of 2008 (mid-collapse). Illinois was #30 out of 50 states in total tax rate. In that ranking, Indiana was 28th. Link to comment Share on other sites More sharing options...
southsider2k5 Posted January 12, 2011 Share Posted January 12, 2011 QUOTE (Balta1701 @ Jan 12, 2011 -> 10:27 AM) By the way, this data is a bit out of date but it's worth highlighting in this discussion...here's the ranking of average state tax rates as of 2008 (mid-collapse). Illinois was #30 out of 50 states in total tax rate. In that ranking, Indiana was 28th. Which leaves out both the corporate taxes, and all of the fees it takes to do business in IL. Its either that or accept that Indiana did WAY better with the relative same amount of rates. Which ever one you pick, it sucks to live in IL. Link to comment Share on other sites More sharing options...
Jenksismyhero Posted January 12, 2011 Share Posted January 12, 2011 and now it sucks even more. 66% increase in income taxes (5%) and 50% increase in business taxes approved. I love that it's only for 4 years and then it'll drop to 4%. I'd bet my life savings it'll NEVER drop. Also glad they had to stay up until 1am to get this thing passed by 1 vote. I'm guessing something fishy went on there. Link to comment Share on other sites More sharing options...
southsider2k5 Posted January 12, 2011 Share Posted January 12, 2011 QUOTE (Jenksismyb**** @ Jan 12, 2011 -> 10:45 AM) and now it sucks even more. 66% increase in income taxes (5%) and 50% increase in business taxes approved. I love that it's only for 4 years and then it'll drop to 4%. I'd bet my life savings it'll NEVER drop. Also glad they had to stay up until 1am to get this thing passed by 1 vote. I'm guessing something fishy went on there. How many taxes started off as temporary? Yeah, you guys are screwed. Link to comment Share on other sites More sharing options...
Jenksismyhero Posted January 12, 2011 Share Posted January 12, 2011 Maybe I'll move to Wisconsin: http://www.chicagobreakingnews.com/2011/01...-his-state.html Wisconsin Gov. Scott Walker is rolling out the welcome mat to Illinois businesses hours after lawmakers there approved a 66 percent income tax increase. Walker has proposed tax cuts on small businesses in Wisconsin and those that move to the state. He says those measures and others will make Wisconsin a more welcoming place to do business and on Tuesday and again today he specifically targeted companies in Illinois. The Republican referenced an old Wisconsin advertising campaign that targeted Illinois called "Escape to Wisconsin." Walker says he is renewing that call to Illinois businesses, encouraging them to "Escape to Wisconsin." Walker says, "You are welcome here. Our talented work force stands ready to help you grow and prosper." Link to comment Share on other sites More sharing options...
southsider2k5 Posted January 12, 2011 Share Posted January 12, 2011 QUOTE (southsider2k5 @ Jan 12, 2011 -> 10:34 AM) Which leaves out both the corporate taxes, and all of the fees it takes to do business in IL. Its either that or accept that Indiana did WAY better with the relative same amount of rates. Which ever one you pick, it sucks to live in IL. The Tax Foundation numbers are much more inclusive. Pre-massive tax hikes IL's average was about $4350 per person in total tax burden, or 14th highest in the US. IN was about 3500, or 34th highest. It will be interesting to see what happens to ILs numbers now. Link to comment Share on other sites More sharing options...
southsider2k5 Posted January 12, 2011 Share Posted January 12, 2011 QUOTE (southsider2k5 @ Jan 12, 2011 -> 10:52 AM) The Tax Foundation numbers are much more inclusive. Pre-massive tax hikes IL's average was about $4350 per person in total tax burden, or 14th highest in the US. IN was about 3500, or 34th highest. It will be interesting to see what happens to ILs numbers now. Well this answers my post http://www.taxfoundation.org/publications/show/26954.html Link to comment Share on other sites More sharing options...
Soxbadger Posted January 12, 2011 Share Posted January 12, 2011 Yeah it sucks, and I doubt Ill vote again for anyone who approved it, but I am definitely not moving to Indiana or Wisconsin. Link to comment Share on other sites More sharing options...
Jenksismyhero Posted January 12, 2011 Share Posted January 12, 2011 (edited) The corporate income tax will rise from 7.3%[3] to 10.9%, a 49 percent increase and becoming the highest state corporate income tax in the United States and the highest combined national-local corporate income tax in the industrialized world. Ugh, perfect timing to force businesses out of the state. Edited January 12, 2011 by Jenksismybitch Link to comment Share on other sites More sharing options...
Cknolls Posted January 12, 2011 Share Posted January 12, 2011 (edited) And they fixed the pension problem. Oh wait. What happens when the road your on runs out of pavement and you cannot kick the can any further? The sad thing is these bozo's actually believe the state will have the money to pay out the pensions. They are delusional. Edited January 12, 2011 by Cknolls Link to comment Share on other sites More sharing options...
NorthSideSox72 Posted January 12, 2011 Share Posted January 12, 2011 I'd have been OK with the income tax going up a bit. But only if they left the corporate rate alone AND did a LOT more to cut spending and fix the structural financial problems. Link to comment Share on other sites More sharing options...
Harry Chappas Posted January 12, 2011 Share Posted January 12, 2011 If you work in Illinois and live in Indiana or Wisconsin what tax do you pay? I am glad that the govenors of both states want companies to just uproot and move to a new state like there was no thought into why they were starting where they are in the first place. I wish Chicago would open a land based casino though and gain the revenue that the citizens are pumping into other municipalities and states. Link to comment Share on other sites More sharing options...
Soxbadger Posted January 12, 2011 Share Posted January 12, 2011 The only way that corporate income tax would force a company out of state is if they are going to substantially reduce the amount of products that they sell in state. Corporate income is apportioned based on where the income is earned. Thus even if you move your plant from Illinois to NV, you still have to pay Illinois income tax on all income that is earned in Illinois. If you want to hear something really annoying, the state of Illinois is going to try and force Illinois residents to pay back sales tax on goods bought online. In general sales tax is owed to the state where the sale is made. Because Amazon has no physical presence in Illinois, Il residents have not had to pay sales tax as Amazon had no physical location. Now Illinois is trying to set it up that the buyer has the responsibility. http://www.chicagobreakingnews.com/2010/12...e-shoppers.html At least in NY they made it that the seller was responsible if it had an affiliate in the state, but IL just doesnt even care. Link to comment Share on other sites More sharing options...
Soxbadger Posted January 12, 2011 Share Posted January 12, 2011 (edited) Im not a tax attorney, but my understanding of tax law for income is that you are responsible to pay the state where the income is earned. Thus if you work in IL, you owe IL income tax. The best example of this on a baseball site, is a baseball player. A baseball player pays taxes to many different states, because they have to pay taxes on income earned in each state. Thus when they play in IL, they earn income in IL and have to pay IL taxes. So if you are on the Florida Marlins, you still pay NY taxes, IL taxes, on a portion of your income. Edited January 12, 2011 by Soxbadger Link to comment Share on other sites More sharing options...
southsider2k5 Posted January 12, 2011 Share Posted January 12, 2011 QUOTE (Harry Chappas @ Jan 12, 2011 -> 11:03 AM) If you work in Illinois and live in Indiana or Wisconsin what tax do you pay? I am glad that the govenors of both states want companies to just uproot and move to a new state like there was no thought into why they were starting where they are in the first place. I wish Chicago would open a land based casino though and gain the revenue that the citizens are pumping into other municipalities and states. Indiana you pay IL their 3%, and then pay the .4% difference to IN. I'm not sure what happens after IL goes higher than IN. Link to comment Share on other sites More sharing options...
bmags Posted January 12, 2011 Share Posted January 12, 2011 QUOTE (Soxbadger @ Jan 12, 2011 -> 06:06 PM) Im not a tax attorney, but my understanding of tax law for income is that you are responsible to pay the state where the income is earned. Thus if you work in IL, you owe IL income tax. The best example of this on a baseball site, is a baseball player. A baseball player pays taxes to many different states, because they have to pay taxes on income earned in each state. Thus when they play in IL, they earn income in IL and have to pay IL taxes. So if you are on the Florida Marlins, you still pay NY taxes, IL taxes, on a portion of your income. This sounds crazy to me. So if you are on a business trip, you must pay that state tax because you are technically earning income whilst in their territory? Link to comment Share on other sites More sharing options...
Soxbadger Posted January 12, 2011 Share Posted January 12, 2011 It may sound odd, but I know the baseball player example is accurate. http://www.questia.com/googleScholar.qst;j...ocId=5002579939 http://www.nytimes.com/2008/02/10/business...xes/10base.html Athletes who play in numerous out-of-town stadiums, as Mr. Jeter does, not only need to pin down their legal residence but they must also pay attention to another ticklish problem: which state is entitled to collect tax from them on any given day. The results are often a tax return as thick as a phone book and as complex as a collateralized debt obligation. Like I said Im not a tax attorney, but I do work with two so I know a little bit about things that interest me. Link to comment Share on other sites More sharing options...
mr_genius Posted January 12, 2011 Share Posted January 12, 2011 QUOTE (NorthSideSox72 @ Jan 12, 2011 -> 11:03 AM) I'd have been OK with the income tax going up a bit. But only if they left the corporate rate alone AND did a LOT more to cut spending and fix the structural financial problems. ^^^ Link to comment Share on other sites More sharing options...
Soxbadger Posted January 12, 2011 Share Posted January 12, 2011 I would have preferred a gradual increase over time, instead of a steep increase with a promised reduction in the future. Link to comment Share on other sites More sharing options...
Chisoxfn Posted January 12, 2011 Share Posted January 12, 2011 Just an FYI, but technically, you are still responsible to pay taxes on the goods purchased from Amazon. It is a "Use Tax" of sorts. However, no general consumer actually follows that rule. Businesses aren't quite as lucky as the IRS tends to audit there use tax. So if you purchased from Amazon in New York, but are using it in Indiana and thus didn't pay tax in New York, you'd be responsible for the portion in Indiana. Link to comment Share on other sites More sharing options...
Jenksismyhero Posted January 12, 2011 Share Posted January 12, 2011 "I didn't lie! I just changed my mind because this CRISIS is brand new! We didn't have any idea that we were in an emergency situation!" GMAFB. I hope everyone who voted for this idiot is happy. http://www.chicagobreakingnews.com/2011/01...as-burning.html Link to comment Share on other sites More sharing options...
NorthSideSox72 Posted January 12, 2011 Share Posted January 12, 2011 QUOTE (Soxbadger @ Jan 12, 2011 -> 11:51 AM) I would have preferred a gradual increase over time, instead of a steep increase with a promised reduction in the future. That would be the opposite of what was needed, so no way that would have happened. The only good news is, the step-downs are written in law, so they'd have to specifically pass legislation to change them. Bad news is that they did this at all, and at the scale they did. QUOTE (Jenksismyb**** @ Jan 12, 2011 -> 01:15 PM) "I didn't lie! I just changed my mind because this CRISIS is brand new! We didn't have any idea that we were in an emergency situation!" GMAFB. I hope everyone who voted for this idiot is happy. http://www.chicagobreakingnews.com/2011/01...as-burning.html Well, it was this idiot or the other idiot. Link to comment Share on other sites More sharing options...
Y2HH Posted January 12, 2011 Share Posted January 12, 2011 QUOTE (NorthSideSox72 @ Jan 12, 2011 -> 01:26 PM) That would be the opposite of what was needed, so no way that would have happened. The only good news is, the step-downs are written in law, so they'd have to specifically pass legislation to change them. Bad news is that they did this at all, and at the scale they did. And that's exactly what they'll do, quite easily. Link to comment Share on other sites More sharing options...
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