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02-23-10, 07:29 AM #1
'Doomsday is here for the state of Illinois'
It will take a massive tax increase -- and $2 billion more in cuts -- to reach solvency, group says
SPRINGFIELD -- To become solvent, the state must enact the largest tax-increase package in Illinois history, whack another $2 billion from already starved government programs and wrest major financial concessions from the state's unionized work force, a nonpartisan government watchdog contends.
In a new analysis of Illinois' "horrific" finances, the Civic Federation lays out the painful choices awaiting Gov. Quinn and the Legislature as they stare down an epic $12.8 billion budget deficit that has choked the flow of state cash to public universities and schools, transit systems and social-service agencies to the point of economic collapse.
"Doomsday is here for the State of Illinois," said Laurence Msall, the organization's president.
The Civic Federation recommends that the state income tax be increased from 3 percent to 5 percent for individuals, that retirees' pension and Social Security checks be taxed for the first time at the same rate as workers' paychecks, and the tax on cigarettes be raised by another $1 per pack. The group also favors getting rid of $181 million in corporate tax breaks.Do not war for peace. If you must war, war for justice. For without justice there is no peace. -me
We are who we choose to be.
R.I.P. Arielle. 08/20/2010-09/16/2012
02-23-10, 03:30 PM #2
Raising taxes is a good idea. Because it's not like all the other taxes have contributed to businesses fleeing and people following them.That which does not kill me, better start fucking running.
If I lived every day like it was my last, the body count would be staggering.
I intend to go in harm's way. -John Paul Jones
Hunt the wolf, and bring light to the dark places that others fear to go. LT COL Dave Grossman
I'd be a better people person if I was around better people.
02-23-10, 03:31 PM #3
Keep driving those companies and jobs down here fellas.
Meanwhile, fishing in Russia:
"When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that justifies it." -- Frederic Bastiat
"Certainly there is no hunting like the hunting of man and those who have hunted armed men long enough and liked it, never really care for anything else thereafter." Ernest Hemingway
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02-23-10, 04:28 PM #4
Washington State is doing the exact same thingI'm your huckleberry...
Quemadmoeum gladis nemeinum occidit, occidentus telum est!
You can be the weapon, and the gun in your hand is a tool - or the gun is a weapon and you are the tool.
I was looking for a saint who was a devil of a lover,
but every girl I found was either one way or the other...
02-23-10, 08:00 PM #5
[ame=http://www.youtube.com/watch?v=_0M__0Z1pjg]YouTube - Taxman Obama vs Rx[/ame]
Originally Posted by Herzen
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