Quinn's Fuzzy Math
- Illinois gained nationwide notoriety in January when Governor Pat Quinn signed into law a 67% hike in the personal income tax rate while lifting the corporate tax rate to 9.5%, the fourth highest in the nation. How is that working out?
The good news is that corporate tax receipts in Springfield are up by about $300 million amid the economic recovery—though the state comptroller's office announced in April that the state still faces $8 billion in unpaid bills. The bad news is that, according to the state's Department of Commerce, Illinois has already shelled out some $230 million in corporate subsidies to keep more than two dozen companies from fleeing the state. And more are on the way.
And guess who else is making noise about moving? Caterpillar. Sears. Motorola. Just to name a few. And how much has it cost Illinois?
- ...in two years in office Mr. Quinn has doled out corporate welfare to at least 80 firms, costing the state nearly $500 million, according to a tally by the Chicago Tribune. Late last year Navistar, the commercial truck engine maker, secured $65 million in handouts. Continental Tire nabbed $19 million. Even deal-of-the-day Web business Groupon, which is preparing an IPO to raise $750 million, grabbed $3.5 million in tax credits to stay in Chicago. U.S. Cellular got a $7.2 million package to keep its headquarters in the Chicago area, while Chrysler received an "investment package" worth $62 million for its Belvidere assembly plant.
Amazing that this jackass ran on a platform of raising taxes. Because it's not like a multi-billion dollar company couldn't afford to move operations to a more business friendly environment, while everyone else who can barely afford their mortgage (if they're lucky) is stuck here paying Quinn's higher taxes and paying more for products that used to be built here in the midwest.
Labels: state politics
posted by SCC at 12:01 AM
24 Comments:
Only a democrat is stupid enough to believe that businesses pay taxes. Their customers pay the taxes in the way of higher prices.
So go ahead you stupid bastards, put another tax on evil big oil! And then wonder why the price of gas went up.
The consumer pays for every tax a business has because the price of what you buy goes up to pay the tax. If they can't pay their taxes, the business goes out of business.
Amazing that this jackass ran on a platform of raising taxes.
Even more amazing is that people voted him into office. How stupid can you get?
That's the plan. Give the big guys subsidies and give nothing to their competition. After a short period, all of the "little guys" will be driven out of business and the larger corporations will take over their customers base. Shortly afterwards, the tax rate will go back down.
Don't forget that our so called government is largely made up of former CEO's and higher ups. Those who aren't are getting a lot of money in campaign contributions from corporations. Just do a little research and see how many of these "politicians" take jobs at the companies of their major contributors after they retire from office.
Let's face it, Bush didn't get serve two terms as President because he was most qualified.
Yep..
This entire tax policy gives a lot of power to one person that can play God/favorites with which corporations you want to succeed and which ones you let fail.
So much for freedom and free trade and equal opportunity for all.
This is how the third world operates. Isn't it?
Billion dollar profitable companies begging for taxpayer funded welfare -- getting it, while they have people distracted with the little guy trying to get something for nothing,
Quinn..= Asshole.... Just another liberal driving America down the toliet.... I would hope one day there would be laws that condemn poor decision making in politics. Afterall, they, the politicians, were voted in office with the fair assumption that they would be making decisions that would make our lives easier with more opprotunity to excel.. Rather than restrict government, promote economic growth, ensure public tranquility. They're expediting our demise as a society, a nation. There are too few of us working class people out there. We are the minority. A dying breed.. The majority are the leeches, the freeloaders, the ones who blame everyone else for their misfortunes. This has now become mainstream America. These are the liberals whom want government to be responsible for all the bad decision making rather than blame themselves. When businesses don't manage well., they run out of business. Presently, govenment bails out bad business so the politicians can get the votes from all those jobs they save. Meanwhile, the same bad business keeps operating but now operates on taxpayer $$$$. No accountability.
Just like our Department. They talk a mean game of accountability.., but what about those officers whom abuse the Medical... How are they held accountable??? Meanwhile, these politicians just like the medical abusers, they keep getting fat of our hard work. They know no one is really looking, so they just keep getting by on our dime..... All I can say is... I'm tired... as well as all of you . It's definitely time for a change.... Change the whole damn system. America is very much like Empires of old. Rome, Persia, China... The common thread..., corruption from the ones who have power and ignoring the plight of the common citizen.... We, the working class, power this great nation. When we become extinct, then this great nation falls..... Lets hope the bleeding stops soon.... signed, The colonist.
He was put over the top by people who don't pay taxes. What does he care?
Mr Potatohead won 3 counties SCC out of 102. Those 3 counties are best known for being the next Illinois license plate I'm suggesting..
Illinois,not the "Land of Lincoln".
Illinois, "LAND OF LEECHES".
Alexander Tyler in 1787:
A democracy is always temporary in nature. A democracy will continue to exist up until the time that voters discover they can vote themselves generous gifts from the treasury (AKA CROOK COUNTY).
From that moment on, the majority always votes for the candidates who promise the most benefits from the public treasury..
Listen up liberal idiots. You always say that the Republicans are for the rich and big business. Well your hero Quinn just did what? Took care of big business and screwed the working families of Illinois.
You people deserve what you get. Maybe your higher taxes can pay for social programs for the flash mob offenders to get more free shit while they prey on you.
Do you give one of your kids a candy bar and not the other ones...Mr Quinn?
SCC, what can we expect? The Dems slammed Bill Brady because he was Pro-CCW, anti-abortion, and wanted to kill puppies. Remember that bullshit? So the Dem-o-Drones lined up and voted for Quinn and now we have Governor Fudd. Great, just f'n great.
The audacity of corporate welfare and corrupt government.
go on you tube and watch the video of harold washington talking about how he wouldnt hire pat quinn to do anything, that he was not qualified to run any dept...truth from the grave.
They are leaving in droves! They stole all of the pension monies we put in the madigan-quinn-daley crime spree continues unabated! Will someone anyone please wake up Patrick Fitzgerald! Thanks!
Quinn tricked the voters into letting him raise taxes on the corporations. Now he gets to use tax increases as a way to get the big boys to finance his future campaigns. They threaten to leave and he kicks back money incentives to stay, then they kick back donations at election time. Universal suffrage has destroyed the US. The founders barred stupid people from voting. It wasn't perfect, but it was better than this.
This country was founded as a free constitutional republic (limited frenchise). We have morphed into a socialist democracy. All democracies are socialist. Lenin said that democracy is the first step toward communism. He who controls the lexicon controls the debate. We need to stop calling our country a democracy. It's probably too late, but what the heck.
I hate to tell 12:25 am this,but OBAMA is the president and his name should fit into your last sentence hopefully, minus the two and putting in one term. Also, our governor is democrat and everyone else who is rolling in the dough from big business is democrat. Many of the ceos are democrats. What makes you think otherwise?
Talk about corruption in all forms including coporate, we have it here in democratland with nary a republican in sight.
Grow up and get current aka look at what your eyes have in front of them.
Buy on line.No Tax save big money.
That's what happens when the winner is not a majority vote getter.
On the Navistar deal. I had to laugh (cringe) as I watched Quinn at the ribbon cutting ceremony.The State of Illinois had already bought Freightliners which require the the almost daily refill of urea
for emissions.
OT - Somewhat. On Fox News at Noon, Tom Dart said they are cutting calories at Cook County to save money. He said "We serve over a million meals a day here."! No wonder he wouldn't run against Quinn.
I hate to tell 12:25 am this,but OBAMA is the president and his name should fit into your last sentence hopefully, minus the two and putting in one term. Also, our governor is democrat and everyone else who is rolling in the dough from big business is democrat. Many of the ceos are democrats. What makes you think otherwise?
Talk about corruption in all forms including coporate, we have it here in democratland with nary a republican in sight.
Grow up and get current aka look at what your eyes have in front of them.
________________________________
I know Obama is president but I can remember all the way back to a few years ago. I'm not saying Dems are any better than Reps. They aren't. They are all on the payroll of large corporations. Stop getting all of your "facts" from Fox, MSNBC, or whatever news you watch and do a little research. Both parties are corrupt and they keep us fighting each other so as not to notice what's happening behind the curtain. Just take a look at where these politicians take jobs after they leave office. Wake up, wise up, or STFU.
So Quinn raises the business tax to get the State more money. But then he has to selectively rebate it to keep businesses from fleeing the state. The tax increase, after rebates, was basically neutral.
Here is a novel idea: End the rebates and lower the taxes. And entice businesses from other states to come here. That will get you more money.
Hey Quinn, how much do I have to contribute to your campaign fund in order to get some handouts? I promise I'll create jobs!
Hey Quinn, how much do I have to contribute to your campaign fund in order to get some handouts? I promise I'll create jobs!
6/11/2011 12:39:00 AM
potatohead is having a sale on handjobs.
you interested?
Post a Comment
<< Home