Taxes going up by 66%!

[Glacier]

Several people I know who have been to the States or live in the States have been shocked at how economically crunched things are down there. Recently, I was down there myself to visit some in-laws and I was surprised to learn that some water bomber companies no longer do business in the State of California because they don't (or can't) pay their bills.

What do you think? Is this the start of a trend?

http://www.moneynews.com/StreetTalk/Ill ... /id/382587

[robhynes]

Probably going to see this more and more, the US is damn near broke and they won't admit it.

I wonder how many taxpayers are going to leave Illinois over this?

[robhynes]

I misread that, personal taxes are going from 3 to 5 percent, not as bad as it sounds.

[Glacier]

It's not that bad (yet), but part of the problem is that raising taxes by 5% as required garners headlines that imply that the tax rate is going up by 66%, and thereby shaming politicians into changing their minds, making the problem that much worse in the future. The states are swimming in debt because money is spent without the taxes earmarked to pay for it.

[xjeepguy]

Several people I know who have been to the States or live in the States have been shocked at how economically crunched things are down there. Recently, I was down there myself to visit some in-laws and I was surprised to learn that some water bomber companies no longer do business in the State of California because they don't (or can't) pay their bills.

What do you think? Is this the start of a trend?

http://www.moneynews.com/StreetTalk/Ill ... /id/382587

All they ever go on about down there with Republicans in charge is LOWER taxes and TAX CUTS . I'm not trying to say they are all stupid but you would think that they know they need to start paying off a few huge bills . 10 cents a gallon would go a long ways to clean up a few bills . Another 25 cents on a pack of smokes , etc...

China's going to come knocking one day and say Hey Pay Up !!

Just the USA's war debt from 2001 to date is over 1.1 TRILLION bucks .

[grammafreddy]

Several people I know who have been to the States or live in the States have been shocked at how economically crunched things are down there. Recently, I was down there myself to visit some in-laws and I was surprised to learn that some water bomber companies no longer do business in the State of California because they don't (or can't) pay their bills.

What do you think? Is this the start of a trend?

http://www.moneynews.com/StreetTalk/Ill ... /id/382587

All they ever go on about down there with Republicans in charge is LOWER taxes and TAX CUTS . I'm not trying to say they are all stupid but you would think that they know they need to start paying off a few huge bills . 10 cents a gallon would go a long ways to clean up a few bills . Another 25 cents on a pack of smokes , etc...

China's going to come knocking one day and say Hey Pay Up !!

Just the USA's war debt from 2001 to date is over 1.1 TRILLION bucks .

More than that, they needed to start reducing their large bills a number of years ago - being more fiscally responsible. If they had done that, there would be no large bills now.

[GordonH]

Its high cost of maintaining their self proclaim international Police force, must keep all Nations inline.

[grammafreddy]

It is WAY more than that, hockeyfan. It is the fact they are paying out far in excess of what they are bringing in for things they do not need to have. It's the Democrat bleeding heart mentality that is sinking them, plus the massive government paycheques and pensions needed to implement these things, plus their involvement in war things plus a lot more. They spend without income to support it. They have borrowed from their future and have no way to pay it back.

They are fools.

There should be laws that governments cannot run deficits. Any government.

Canada and BC and even Kelowna is not immune, either. The news everyday is full of stories about government borrowing and funding more programs and projects. We need to get this under control - mainly because what happens in the States has a direct impact on us up here. If they sink (which they will), we will see very hard times here, too - even harder than what we have now. There will be even more belt-tightening by businesses and manufacturers and fewer jobs. Of course, this will mean more people on more social programs. If our houses are in order, we may be able to see a lesser impact when things skid, but with the current mentality of spend, spend, spend, I am not holding my breath on this.

These new tax increases will result in loss of businesses, industries and jobs in Illinois (as well as California and New York - among others). Increasing taxes is NOT the answer. Decreasing them will do more for their economy because it encourages business and investment.

They also increased the state sales tax - so now anyone who lives close to a state line where sales taxes are lower will cross that line to shop.

The common working person who is now struggling to meet his basic living expenses will now be bringing home less money in wages and paying out more money when they buy things. There is no sanity in that. They will sink. If they are also carrying credit card balances and interest payments (which many of them are), then they are going to sink even faster. Far too many people live paychque to paycheque and cannot meet their financial obligations now and this increase in taxation puts them even more in jeopardy. Welfare costs will skyrocket and there is no money for even that social program.

It constantly blows my mind that people cannot see what is happening and will support increased taxation to pay for all this government spending. Government needs to curtail its spending, cut down on so many things it does, and look for new ways to do old things that would save money.

And, on top of all this, Obama's health care program is massively expensive NOW for anyone who has private or employer health insurance. The premiums have all gone way up in anticipation of lost revenue in four years' time. It's insane how people can support that whole program and there were other ways to cover the people who needed to be covered.

The illegal aliens (read Mexicans in the US illegally) are costing the country enormous amounts (and I know there are some here who want to argue that but it is a fact). They are approving things for them that even US citizens have to fight to get - and they are collecting money and privileges they have no entitlement to get - health care, driver's licenses, rent subsidies, food subsidies, etc. But the bleeding hearts are all for the people paying for all this for them. In many cases, the illegals are much better off than the US citizen who is working and paying for all this for the illegals.

I keep asking people here .... how much taxation is too much when it is wasted on social programs? At what point in time do you say "enough"? How many babysitters can one wage earner pay for? How many sports programs? How many rent cheques? How much food and how many skating rinks and government pensions? Are you willing to be in the poor house yourself and fighting to keep your roof over your family's head and food in your kids' bellies for someone who has no intention of paying their own way?

[xjeepguy]

If you were an American Gramma , you would certainly be a Republican

[grammafreddy]

If you were an American Gramma , you would certainly be a Republican

At the very least.

I would probably be a Libertarian. Those Dems are so majorly screwing the country up.

[grammafreddy]

I misread that, personal taxes are going from 3 to 5 percent, not as bad as it sounds.

Not as bad? It's a huge amount!!! They should have cut it by that much and cut government spending by more than that.

[xjeepguy]

If you were an American Gramma , you would certainly be a Republican

At the very least.

I would probably be a Libertarian. Those Dems are so majorly screwing the country up.

They have only been in for 2 years , you don't put any blame on that war mongerer Bush and Bush Daddy ? The pair of them is responsible for more than 1.1 TRILLION dollars of debt alone .

[averagejoe]

Here is another storie on the 66% tax hike Illinois.

SPRINGFIELD, Ill. – Illinois Gov. Pat Quinn defended a massive increase in state income taxes passed by lawmakers Wednesday and promised to quickly sign the measure to help heal the state's ailing finances.
Lawmakers worked overnight to pass the increase to raise the personal income tax rate from 3 percent to 5 percent for four years — a 66 percent increase. Corporate income taxes also will rise, but Quinn rejected the notion that it would decimate businesses.

http://news.yahoo.com/s/ap/us_illinois_taxes

[grammafreddy]

They have been a problem as well, but not nearly what this 2 years with Obama has been. Obama has incurred such massive future debt that even today's wage earners' grandchildren will not be able to pay it off. No country can exist like that. Anybody who thinks it can is a total fool. The Democrats and the people who support them really need to have a good look at what is happening down there. Obama has two more years to go - how much MORE debt is too much for his supporters to stomach? He has already well and truly exceeded what the country can afford.

[GordonH]

Well, if you are so fed up GF put your name in the hat to changes things. Theirs at least 2 Provincial Parties that need leadership.

As for my comments it was the billions of dollars that was spend in Iraq over last 9 years. Also the billion and billion being spend on NASA for what. If you look at the amount of $$$ that has been spend from the early 60's to today, it just blow a person mind. Just that alone is more than enough pay off the US debt with sum to spare.

I did not agree to/or with any type of bail-out, if I had it would be to the people. Not to banks or any corporations, either you sink or swim on your own wallet.