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Illinois Income Tax May Jump 50 Percent !!!!!

 
***
User ID: 95
United States
03/13/2009 07:53 PM
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Illinois Income Tax May Jump 50 Percent !!!!!
Illinois Income Tax May Jump 50 Percent

Gov. Pat Quinn Says Tax Hike Is Needed To Fight Gov. Pat Quinn is calling for a hike in Illinois income taxes for families making more than $56,000 a year.



State Faces Bigger Budget Crisis Than Realized (2/4/2009)
Gov. Pat Quinn confirmed Friday that he plans to raise taxes on some Illinois residents to combat deficits in a difficult state budget, and called for broader tax reform.

Quinn said Friday that he plans to hike taxes for families that make more than $56,000 a year.

But Quinn contends his income tax proposal would amount to a tax cut for millions of Illinoisans by increasing the personal exemption to let them shield more income from being taxed.

"It's very important that we raise taxes in a fair way for the people of Illinois in order to pay for important core priorities – whether it be safety, health, education, transportation, and so on," Quinn said at a news conference at the James R. Thompson Center Friday.

He did not say exactly how much taxes would go up, but the Chicago Tribune reported Friday that he was looking for a hike of 50 percent, from a rate of from 3 percent to 4.5 percent

Quinn said when the Illinois income tax was first instituted 40 years ago, the personal exemption was generous, but it did not increase with cost of living. Originally, Quinn said, the personal exemption in Illinois was $1,000. It has since risen to $2,000.

Earlier reports have said Quinn hopes to raise the standard tax exemption up to $6,000 per person from $2,000, to help low- and middle-income families.

If the personal exemption were increased, taxes could be cut for many Illinoisans, Quinn said.

"We're not going to take multiple people – people who are just making it; people who are living from check to check – and we're not going to tax them into poverty," Quinn said.

Illinoisans have had a lower income tax rate than other states for some time. This would be the first increase in 20 years.

In addition, some business tax breaks would be eliminated, and Quinn promises to tighten state government spending.

The income tax increase could bring in nearly $4 billion. The budget deficit is expected to be more than $9 billion by the summer of 2010.

Quinn has been hinting about the problems in the state budget this year for some time.

Taxpayers in Chicago weren't surprised, but many said the timing is poor.

"We already can't afford to pay the taxes – people who have homes and what have you now, so it's going to be really rough," said Nadeja Borras.

"Already, the taxes are pretty high, so it could be a disadvantage for the State of Illinois," said Sara Mirarefi.

But some Chicagoans thought a tax increase might be necessary.

"I think it's about time somebody's got the guts to go in there and say, 'Hey, we have to increase taxes,'" said Jim Kauss. "We have to pay for this. it's not free."

Quinn said the taxes would be structured in such a way that those suffering the most would not be affected. He pointed to what he called "a principle that's as old as the Bible, that taxes should be based on ability to pay."

Quinn said he would hold the lines on gasoline taxes, although state lawmakers have been talking about raising them to pay for road and bridge construction. Fees on driver's licenses and license plate stickers may also go up.


[link to cbs2chicago.com]
Smedley

User ID: 634378
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03/13/2009 08:13 PM
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Re: Illinois Income Tax May Jump 50 Percent !!!!!
State Faces Bigger Budget Crisis Than Realized (2/4/2009)
Gov. Pat Quinn confirmed Friday that he plans to raise taxes on some Illinois residents to combat deficits in a difficult state budget, and called for broader tax reform.

But Quinn contends his income tax proposal would amount to a tax cut for millions of Illinoisans by increasing the personal exemption to let them shield more income from being taxed.

"It's very important that we raise taxes in a fair way for the people of Illinois in order to pay for important core priorities – whether it be safety, health, education, transportation, and so on," Quinn said at a news conference at the James R. Thompson Center Friday.
 Quoting: *** 95

You see what I have been saying for a long time. Only the private sector will suffer though this economic manufactored recession. the governments have no intentions of doing anything except writing new laws to take more money from people that are already suffering. Does it say he is going to cut government jobs? Nope, in fact I bet they are hiring right now and will continue to hire and make government bigger.

Quinn said when the Illinois income tax was first instituted 40 years ago, the personal exemption was generous, but it did not increase with cost of living. Originally, Quinn said, the personal exemption in Illinois was $1,000. It has since risen to $2,000.

Illinoisans have had a lower income tax rate than other states for some time. This would be the first increase in 20 years.
 Quoting: *** 95

But he did say this. Illinois tax was "generous" How can they force you to give up your hard earned manoey and then claim they are "generous". And look at what other people say about the taxes in Illinois

"We already can't afford to pay the taxes – people who have homes and what have you now, so it's going to be really rough," said Nadeja Borras.
 Quoting: *** 95


"Already, the taxes are pretty high, so it could be a disadvantage for the State of Illinois," said Sara Mirarefi.
 Quoting: *** 95

Whats wrong with these people? Don't they know their government masters are "generous"?

Quinn said he would hold the lines on gasoline taxes, although state lawmakers have been talking about raising them to pay for road and bridge construction. Fees on driver's licenses and license plate stickers may also go up.
 Quoting: *** 95

Oh look at this...already they are looking for other ways to take their money. All they will do is force people to leave the state. Why stay in that communist hellhole when you can live in much better places where criminals don't want to steal your money?

.
picesnator

User ID: 628200
United States
03/13/2009 08:15 PM
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Re: Illinois Income Tax May Jump 50 Percent !!!!!
whoa!!!..that state is gonna tank big time...i bet a lot of people will be leaving...
Anonymous Coward
User ID: 569086
United States
03/13/2009 09:17 PM
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Re: Illinois Income Tax May Jump 50 Percent !!!!!
It's not "may", it's "will".

Here's my rant!
Quinn committed $250 Million to Mayor Daley toward the Olympic 2016 bid. Where is the money coming from? Only 35% of the citizens are in favor of the Olympic. Communities/neighborhoods are being destroyed for Daley's new residential condos and officer buildings. Daley already paid $100,000 to lobby Washington for funding. City is in debt by $400 millions, state in debt by billions. Businesses and residents leaving Chicago from increased taxes. Crime increasing! History of corruption among politicans.

Chicago's 85 Aldermens earning $185,000/yr. for a Part-time job. That is $15,725,000 per year for their "Part-Time"salaries. New York City only has 5 aldermen for their 8 million population.

Only 8,000 street police are protectling a population of 3.5 million. Sanctuary City for illegals! More killing than Iraq in 1 yr.

City increased parking meters to $14.75 per hr. Minimum parking lot fee is $20.00 for 1st 30 minutes. City tax is 10%, 11% for restaurants and take-out orders. County increased the real estate taxes so Todd Stroger can remodel his office for $1 million and give his relatives, who he appointed in county jobs, a raise.

Daley is expanding the O'Hare airport runways, forced a large numbers of people and businesses to move from the suburb of Bensenville, depleting Bensenville's income. The airlines are against this expansion since they will have to share the burden of the construction cost.

Daley grew up in Bridgeport, a mafia syndicate neighborhood. Luckily the Feds are finally putting them in jail. The Jewish syndicate are powerful too but little is reported. Now he has Obama and most of Obama's key staff who are from Chicago to tax us more.

Watch out for brother Bill Daley (AT&T). He's planning to run for Congress soon. The Daleys are like the Kennedys.

Thanks for letting me air out!




rant
Uptight Librarian
User ID: 634473
United States
03/13/2009 10:07 PM
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Re: Illinois Income Tax May Jump 50 Percent !!!!!
Ah well, my refund from the state after taxes wasn't much anyway, they might as well keep the whole lot. Of course, a %50 jump in taxes means they'll most certainly be taking *more* of my paycheck, but....well, at least I'm still employed...
Smedley

User ID: 634378
United States
03/13/2009 10:11 PM
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Re: Illinois Income Tax May Jump 50 Percent !!!!!
Ah well, my refund from the state after taxes wasn't much anyway, they might as well keep the whole lot. Of course, a %50 jump in taxes means they'll most certainly be taking *more* of my paycheck, but....well, at least I'm still employed...
 Quoting: Uptight Librarian 634473

When does it get to a point when its just not worth working? will it get to a point where you pay them for a job? Maybe they give you a free lunch in return for a weeks labor.
The Commentator

User ID: 587619
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03/13/2009 10:14 PM
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Re: Illinois Income Tax May Jump 50 Percent !!!!!
But hey, it just foreshadows the change you can believe in.

SUCKERS!!!!!

non sufficit Orbis

Being a zetatard means never having to make sense.

"Nancy pays me to post on Her threads"

Free Store admits to being a paid zetadrool shill

NO max/bridget EVER!!!!!
NO luser EVER!!!
NO clunker EVER!!!!!
Anonymous Coward
User ID: 634394
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03/13/2009 10:14 PM
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Re: Illinois Income Tax May Jump 50 Percent !!!!!
Blago
Anonymous Coward
User ID: 631340
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03/13/2009 10:23 PM
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Re: Illinois Income Tax May Jump 50 Percent !!!!!
And the public doesn't know any better than to support everyone like that.
Anonymous Coward
User ID: 617796
United States
03/13/2009 10:33 PM
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Re: Illinois Income Tax May Jump 50 Percent !!!!!
fucking stupid people elect democrats into office to raise their income tax 50%

these fucking braindead idiots aren't welcome in texas as far as i'm concerned until they sign away their right to vote
Is45

User ID: 627693
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03/13/2009 10:54 PM
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Re: Illinois Income Tax May Jump 50 Percent !!!!!
I'm glad I live in a state with no state income tax.


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Anonymous Coward
User ID: 631527
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03/13/2009 10:57 PM
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Re: Illinois Income Tax May Jump 50 Percent !!!!!
Just get Blab - O - Bitch to float a bond or sell some naked pictures of Michelle Obama and they will cover the debt.
Is45

User ID: 627693
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03/13/2009 10:58 PM
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Re: Illinois Income Tax May Jump 50 Percent !!!!!
whoa!!!..that state is gonna tank big time...i bet a lot of people will be leaving...

 Quoting: picesnator



Yeah, those making more than $56,000...
then state revenue will go down.

smart move, governor rolleyes



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Anonymous Coward
User ID: 633947
United States
03/13/2009 11:09 PM
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Re: Illinois Income Tax May Jump 50 Percent !!!!!
Most recent state CAFR is 2007:
[link to www.apps.ioc.state.il.us]
Comprehensive Annual Financial Report - Fiscal Year 2007

Looks like they were taking stuff out of various programs and putting it into the general fund, too.

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