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Illinois: Thank Goodness For Michigan… Or We’d Be Last In Everything

By: Tabitha Hale (Diary)  |  January 12th, 2011 at 01:10 PM  | 

RESIZE: AAA

Illinois Democrats (I repeat myself) have still not figured out that raising income taxes when no one has money will continue to pummel their already struggling economy. In the wee hours of the morning, the state legislature managed to force through a 67% tax increase with a vote of 30-29. Several Democrats joined a the Republicans in voting against the bill.

Illinois is currently ranked 48th nationally in job creation. They are swimming in debt, and rather than figure out what they can cut, they intend to enact a 17% spending increase over the next four years… which should work out well after they drive the businesses (read: employers) out of their state with the 45% corporate tax hike.

This drive Illinois state income tax up to the 4th highest in the nation, according to State Senator Matt Murphy, who vowed on Twitter to file a fight for repeal by the end of the week.

“You may think your [sic] stabilizing this budget but you’re not,” said Republican Sen. Matt Murphy . “You’re bankrupting our state with this bill.”

Dear Illinois: get better representatives.

COMMENTS

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  • redneck_hippie
  • BigGator5

    Is Illinois and California a lost cause? Is about time to write them off as bad dreams?

    • bk

      So IL may end up in worse shape than CA before long.

      On the bright side, perhaps housing demand will rise in IN, WI, IA, MO, and KY.

      • redneck_hippie

        Illinois had the worst debt rating in the US, and the 9th worst in the globe. I don’t see how this is going to change that. If the Illinois Obama/Pelosi/Reid regime lowers spending, I’ll eat my chapeau. They’ve concurrently been trying to pass a $5 billion dollar borrowing scheme in order to pay the backlog of bills due.

        California isn’t keeping up by a long shot.

  • carolina

    Sounds like the whole state is run by a bunch of ‘obamas’.

  • davidleigh

    “You may think your stabilizing this budget but you

    • http://tabithahale.com Tabitha Hale

      I’ll add a [sic].

  • redneck_hippie

    Curious that that phrase does not appear anywhere in the NYT article.

    So I guess lame duck can now be added to the urban dictionary along with other proscribed terms of the left, like death panel.

  • IJB

    …when the new Senate is seated, as the GOP picked up a couple of seats there this year, and this tax increase looks like it just *barely* passed this time, 30-29. I think 2 more GOP votes might assure repeal.

    But, the question is – can the tax repeal pass the IL State House? The GOP picked up 6 seats there in 2010, but they’ll still need the votes of at least 5 IL House Dems to pass the repeal, and I’m not sure how likely that is…

    • redneck_hippie
  • redneck_hippie

    Curious that that phrase does not appear anywhere in the NYT article.

    So I guess lame duck can now be added to the urban dictionary along with other proscribed terms of the left, like death panel.

    Hey, NYT. Where is the truth hidden in this bill? You say, “As part of the deal, the state

  • bk
  • izoneguy

    Illinois business leaders bristle at planned tax hike

    http://www.reuters.com/article/idUSTRE70B5TD20110112

    William Brodsky, chief executive of CBOE Holdings, said that while the fiscal woes of Illinois have not yet crimped his ability to recruit talent, they will do so.

    “We’re greatly disappointed at the lack of a comprehensive approach to our state’s dire financial situation,” Brodsky said by email.

    “Merely throwing tax dollars at a broken system, without overhauling the expense side of the ledger, compounds the problem and undermines the financial recovery for every business and citizen in our state,” he said.

    Other states such as California and New York may also be in fiscal straits, he said, but they have natural enticements that will keep talent coming anyway. Illinois needs to be able to offer more, he said last month. “They don’t come here for the weather, I tell you.”

    (snip)

    A Boeing spokesman said the company did not see a significant impact on its operations from the increase.

    In a Tuesday opinion piece in the Chicago Tribune, Doug Oberhelman, CEO of Caterpillar Inc, disagreed.

    “It’s no secret that when making investments, businesses have to consider the costs,” Oberhelman wrote. “And states with lower-cost environments provide an opportunity for business and their employers to succeed. That’s not the type of environment we are creating in Illinois with these tax proposals.”

    (snip)

    Wisconsin Governor Scott Walker was quick to pounce on the potential benefits to his state saying: “Wisconsin is open for business.”

    “In these challenging economic times while Illinois is raising taxes, we are lowering them,” he said in a statement.

  • Goldwater_Conservative

    Give us your tired, your over taxed, job producing business. Illinois is going to give a new meaning to the term welfare state.

  • Common_Cents

    As Margaret Thatcher says, “The problem with socialism is you run out of other peoples money.”

    Reckless government is no longer being covered up by additional credit lines and borrowing.

    Is there anyone on the left who has ever run a business?

    If they did, they would try to raise prices(taxes) when they wanted to raise revenue. Most people would promote or have a SALE(lower taxes) to raise more revenue. Duh! Or they would put out a better product or service! (not in govt thinking)

    The public is not a stable spigot in which to turn on for more tax revenue, every action has a reaction. The utopian left must have been skipping Econ 101 while smoking pot to have missed this basic concept of supply and demand.

    • redneck_hippie

      you take grocery money from some people in order that all Democrats keep their jobs (and pensions, health insurance, etc).

  • Kyle-MI

    We now have a Republican governor and GOP control of both houses in the legislature.

  • mboyle1988

    Illinois had the chance to vote in Republicans. They voted for a proven corrupt gubernatorial regime because they are too attached to killing their babies and letting the gays marry. If they want to be Godless Americans, let them have godless results.

  • melbedewy

    will not happen with a newly elected Democrat governor.
    If the people of the 99 out of 102 counties that voted Republican would do so next year then it might happen.

  • johnnyd

    It would be interesting to have a re-vote for Gov today and see who would win. But the sad thing is that Quinn said he was going to raise taxes AND THEY STILL VOTED OFR HIM. It is mind boggling that they just keep spending and spending. It is a really bad situation when you have Chicago running the WHOLE STATE.

    Blago flew back and forth to Chicago daily instead of moving to the Gov mansion in Springfield. Einstein he wasn’t.

    Unfortunately the UNIONS are running most of the show . There is a stretch of road that our subdivision connects with the local town that was changed from 2 lanes to 3 with the middle lane a turn lane. It is a 1/2 mi long. It took 2.5 years to construct. I kid you not. They had to cut out and re-pour many sections after they origionally poured it, it was rediculous.

    • Doc Holliday

      take out Baltimore and PG county, you have a red state. Hell New York would likely be red sans NYC.

      • IJB

        Heck, California might even be Red with *just* the entire Bay Area gone…

        • Doc Holliday

          we can play this with many states, liberals and state wards seem to congregate in the big cities.

          • http://www.hakubi.us/ Neil Stevens

            MA leans left statewide. CA has a huge contrast.

            You’d never elect Tom McClintock or Duncan Hunter anywhere in many left-leaning states, but you can and do in California.

          • Doc Holliday

            They say if women did not have the franchise, every Republican presidential candidate in the 20th century would have won.

            It would not be right…ahem… but it shows how you can crank the numbers out and get a certain outcome :)

          • Doc Holliday

            that even scare me (ok not really) I mean they did elect Bomber Bob Dornan and his arch nemesis Dana Rohrabacher.

        • Spiral

          Problem is the Los Angeles County and the dozen or so Bay Area counties account for a little over half of California’s population. Since those areas vote about 2 to 1 Democrat, it makes it very tough for a Republican to win statewide.

          It also makes it hard for the California Republicans to win a majority in the state legislature.

          Almost any redistricting scenario you can think of would result in a Democrat majority, since it’s hard to find Republican precincts in L.A. country or the Bay Area. Although the very far north part of L.A. county, the foothills, is still Republican.

          • johnnyd

            i’m serious. I cannot take this crap anymore,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,

            I would be looking for somewhere not too hot and not too cold. LOL! It would be nice to stay away from tornado alley also.

          • http://impudent.edublogs.org/ kyle8

            in Texas, and low real estate prices. A real plus if you like mexican food.

          • johnnyd

            I thought Texas was one of the states that was in financial trouble. Am I wrong about that? What cities would you suggest?

            The problem with Texas is it will be ground zero for the mexican- retaking- of their- land- revolution. Not that I’m not up for protecting our country.

          • Spiral

            It’s going through budget difficulty, like many states are. But a majority of the jobs created over the past 18 months have been created in Texas. Texas is very pro-business and it’s a taxpayer friendly state.

            The weather is hot and humid during the summer, so invest in a good air conditioning system. I know this because my in-laws live in Texas. If you averaged the temperatures between here in Indiana and those of Texas, you’d have some great weather!!

          • http://impudent.edublogs.org/ kyle8

            We are not billions of dollars in debt. As for the Mexicans, well, let’s just say you get used to them.

            I have Mexican neighbors, they are some of the best people I ever lived near. I teach a bunch of recent immigrant children and they are the most polite and deferential kids in the school.

            Besides Tejano music is cool, and I love Mexican food and beer. Plus I am learning Spanish, The majority of Mexican people are very socially conservative christian people.

            Unfortunately they are almost pre-programed to fall for Democrat class warfare crapola.

          • http://impudent.edublogs.org/ kyle8

            We are not billions of dollars in debt. As for the Mexicans, well, let’s just say you get used to them.

            I have Mexican neighbors, they are some of the best people I ever lived near. I teach a bunch of recent immigrant children and they are the most polite and deferential kids in the school.

            Besides Tejano music is cool, and I love Mexican food and beer. Plus I am learning Spanish, The majority of Mexican people are very socially conservative christian people.

            Unfortunately they are almost pre-programed to fall for Democrat class warfare crapola.

          • Doc Holliday

            Shenandoah Valley Virginia, New Mexico at a decent elevation? San Diego circa 1970 would be nice too.

  • concap

    Soros Bailing Out of U.S. Stock Market

    Billionaire trader and political manipulator,George Soros, is clearly not optimistic. The latest SEC filings are out on the Soros hedge fund, Soros Fund Management.

    Between the end of March and the end of June, Soros lowered his stock investments from $8.8 billion to $5.1 billion in the fund.

    He sold most of his positions (over 95%) in Wal-Mart, J.P. Morgan Chase and Pfizer.

    His biggest position at the end of June was in the gold ETF which accounted for 13% of his equity portfolio at $638 million.

    http://www.economicpolicyjournal.com/2010/08/soros-bailing-out-of-us-stock-market.html

    The Collapse Of The British Pound
    http://www.theglobalguru.com/article.php?id=180&offer=GURU

    Black Wednesday
    http://en.wikipedia.org/wiki/Black_Wednesday

    • lineholder

      http://www.redstate.com/etcartman/2011/01/13/banks-order-foreign-embassy-accounts-closed/

      Sounds like you and Kenny may be on the same path.

  • concap

    I wish more people thought the same way.

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