IL state income taxes to go up 75%?!?!?!?!?!

Discussion in 'Economics' started by Maverick74, Jan 7, 2011.

  1. And you guys out there in Chicago really think that the state tax is gona kick your arses. Read below. Then google the legislation.

    Get ready Windy City cuz your about to get another ass fucking.

    Too bad, Chicago is such a beautiful city but the majority of the locals love their bleeding, leftist liberal idiots. You make your bed, you sleep in it.

    Not only are you about to pay for Alternitive Energy as a "Collective Community" but the idiot in office has banned Deep Sea drilling in the Gulf. The drop in Rig count is over 20% in the last 6 months. On top of that, Energy Report on Mexico (Where we get a shit ton of oil) is that they are producing less and less.

    Oil at 150, will tripple your electric bills and the legislation on "Green Energy" that is coming your way, well lets just say, $$$$$$$$$$$$$$$$$$




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    OBAMA WATCH CENTRAL

    Cheap electricity gone with the wind
    Experts forecast bills will triple under burden of power-line financing

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    Posted: January 09, 2011
    9:46 pm Eastern


    By Gene Koprowski





    The Obama administration is changing the way wind energy projects in the American Midwest are financed by "spreading the costs" to consumers and businesses in other states, possibly doubling or perhaps tripling energy bills in the region in the coming years, experts are telling WND.

    Obama's team at the Federal Energy Regulatory Commission, which regulates much of the coal, gas, hydroelectric and oil industries, late last month approved a scheme long sought by environmentalists that links windmills and windmill farms to conventional energy transmission grid lines in the nation's heartland.

    FERC Chairman Jon Wellinghoff announced new federal rules that would in essence socialize the cost of transmission lines across the 13 states of the Midwest at a price tag of approximately $20 billion.
     
    #61     Jan 9, 2011
  2. Just take a moment to think about how out of control this state tax has become. It's been widely reported that $771 million in tax refunds PAST DUE to businesses have not been paid (it goes back a number of years btw). So not only has the state not refunded money that is legally not theirs, they are now going to increase their take by 75%. How would you like to be a small to medium sized business with 5-6 figures owed to your company by the state, then turn around and be told "hey we don't have your money from your past taxes, but NOW you can pay us about double what you previously paid us".

    Instead of slashing budgets, (aside from token, b.s. furloughs and other such miniscule cost cutting measures), it becomes a massive tax grab. Not to say any of us should be surprised at all.
     
    #62     Jan 10, 2011
  3. Wouldn't the taxpayer be able to use the amount they are owed by the state like a Credit on an overpaid credit card account? That is, "I have a credit balance with the state of $100K. My current taxes are $100K.. therefore, we're even"... ??
     
    #63     Jan 10, 2011
  4. LEAPup

    LEAPup

    I agree completely!
    Lived in Texas as a kid.
    I love Texas!!!

    Hearing about a liberal shift in the last REAL state is very painful to hear!!! I know Austin can be "the san fran" of Texas, but I pray the rest of Texas stays the Texas I know and love!
     
    #64     Jan 10, 2011
  5. bone

    bone

    Oh, speaking of the Illinois Department of Revenue, I have a personal example: they owe me money because I overpaid taxes, and so they unilaterally chose to apply it to my "future liabilities". And the appeal process timeframe (not to mention the convoluted paperwork and filing mechanics) is measured in years.

    My income flows into an LLC, but like nearly all LLC owners in this country I file returns as an individual.
     
    #65     Jan 10, 2011
  6. Any sense of how many of the new influx are California emigrants.. sensing "CA's tapped out... better move to TX where they haven't blown it all yet... to get me some more of them FREE SOCIAL BENEFITS.. before somebody else beats me to it and SUCKS 'EM DRY before I get there"... ??
     
    #66     Jan 10, 2011
  7. Lived in Boston till 2001 and when I moved to Houston, I felt like I got a payraise %100

    everything is so cheap I mean some things are like 1/6th even 1/10th of Boston, I am like how come I did not move before. Yet the net salary is almost same in Houston.

    Never paid for parking, lots of apartments so cheap and includes all the utilities. Back in Boston, I had friends paying $500/month for heating in winter time, here I am paying rent close to that including everything.

    When I first came to Houston, there were apartments which has the maid service included. I once called and asked what a maid service is. Managements said "it is a cleaning lady coming every week and do light cleaning including carpet cleaning with the machine. I was shocked when I heard this. (Now it is gone)

    There were only handful of restaurants in Boston, but every neighborhood in Houston has more restaurants than the whole Boston.

    I used to pay %5.5 state tax on my dividends and interest earned in savings and checking account back in Boston. Texas has no state taxes

    I don't understand why any frugal person wanna live in MA. Waste of money.

    Call it exaggeration or whatever, the life standards of an illegal mexican in Houston is the same as a professor in a university in Boston in many ways. You won't believe what type of housing and life style they have in MA.
     
    #67     Jan 10, 2011
  8. bone

    bone

    Since it's how much you keep versus how much you make, taxation is a huge issue.
     
    #68     Jan 10, 2011
  9. Becareful in H-town.

    I like the city, Friend of mine owns loft buildings in the Medical Center and Musem District.

    However, H-town is broke like Chicago. The influx of illegal Immigration as H-town is a safe zone for them, the infux of trash from New Orleans and the fact that Obama has banned Deep sea drilling in the Gulf is going to cause some fiscal cuts and belt tightn'n in H-Town.

    I think Houston will make it out of the hole once Texas passes the bill where a I9 form must be shown in order to get state benefits, major cost cuts are passed and Oil and Gas industry adjust to the Obama ban.
     
    #69     Jan 10, 2011
  10. BSAM

    BSAM

    I'm kinda at a loss as to why hardly anyone lives in Illinois. If you're wealthy from your occupation there, I guess it's justifiable, but otherwise...
     
    #70     Jan 10, 2011