Grab Ankles
by Stix1972 (R-IL) (VRWC) ~ February 29th, 2008. Filed under: Better not Larger Government, Shaking Down Socialistic Squirrels and other nuts!, Socialism VS. FREEDOM!.Yes it is time for us in the great Democratic Republic of Illinois to fork over more of our money to the great Government. They always try to change what the bills are, and sneak them past us. This time they are trying to make it look like it is not a tax increase, wink wink, nudge, nudge. It is just a tax swap. Yeah!! Right!!!!
H/T to Crazy Politico’s Rantings
Cross posted at Stix Blog
Illinois State Senate tries again for ‘tax swap’ to raise income taxes
SPRINGFIELD - A controversial proposal to increase
income taxes and lower property taxes was approved by a Senate
committee Wednesday with a little boost from Senate President Emil Jones (D-Chicago), who signed on as a co-sponsor.Jones, a longtime proponent of an income-tax hike, had instead worked with Gov. Rod Blagojevich
last year in a failed effort to raise a major tax on businesses. But
earlier this month he once again embraced the concept of increasing
income taxes .The bill is a new version of Sen. James Meeks‘
(D-Chicago) “tax swap” that has repeatedly failed to gain traction in
Springfield. The new proposal would raise personal income taxes from
the current 3 percent level to 5 percent and boost corporate income
taxes from 4.8 percent to 8 percent. In exchange, it would cut property
taxes by a minimum of 20 percent from the education portion of a
homeowner’s bill.—Chicago Tribune
Yes and donkeys fly.
Sphere: Related ContentHow About A 66 Percent Tax Increase!
The
Illinois State Senate, led by Emil Jones (D-Chicago) is going to try,
once again, to advance a “tax swap”bill that would raise Illinois’
income tax and corporate tax rates by 66%. The idea is that you raise
income taxes from 3% to 5% and corporate taxes from 4.8% to 8%, then
have the state distribute enough money from that raise to drop the
education portion of property taxes by “at least 20%”. (Story here in the Chicago Tribune)I’ve
done some basic math on this and what it comes out to, in my case, is
the state trading me about a 400-500 dollar property tax rebate for a
$1400 income tax increase! I’m thinking this isn’t a fair “swap”.— Crazy Politico’s Rantings
