Gov. Pat Quinn's proposed income tax increase/money grab: The proposal is that Illinois' state income tax be raised from its current 3 percent, where it has been since Gov. "Big" Jim Thompson raised it in the late 80's or early 90's, to 4.5 percent. This represents a 50 percent increase in the income tax. By law in Illinois, the income tax is flat, not graduated. All residents pay the same rate regardless of income. The governor has floated the idea of a larger personal deduction to help low-income families.
Here is what I wrote in the comments section of a couple of Friends' FB pages that caused them to Remove me as a Friend:
The last thing this state needs is another massive tax increase. As I told my friend, who works in a state-funded facility, simply beating the drum for a tax increase ignores the reality that a tax increase reduces consumer spending, depresses income and scares business away from the state. Furthermore, additional revenue doesn't solve this state's funding problems. It just allows our spend-happy legislators to spend more of our hard-earned money on their pet projects. Over the past 20 years, our legislators have spent OUR money at twice the rate of inflation. If they had kept their spending just to inflation, we would probably either have a balanced budget or a surplus. The legislature never says "no" to a tax increase, so you'll probably win this one. I feel like the madness needs to stop. Numerous non-profit groups have made legitimate suggestions about relatively painless budget cuts the state could make without jeopardizing programmes like yours. Gov. Quinn won't acknowledge such options. For him, it's all about hurting kids and seniors. (And he won't make seniors pay for cta rides, either.) If you think they're suffering financially now, wait until that 50% income tax increase flies through the legislature. Do you really think working-class people can afford another one-and-a-half points sucked from their income by the greedy bastards who represent us in the legislature? (And that means, you, Ira Silverstein, you self-righteous taxaholic bastard.) The long-run consequence of tax increases is jobs and people moving out of Illinois. I can't imagine starting a business in Illinois, let alone Chicago. The tax burden is already too high.
A screed full of personal attacks, profanity, vituperation and nastiness, as you can see.
Tuesday, June 23, 2009
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It's a comment section of friends!!
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Britney
Loans in a low rate and we make it easy to repay it too
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