Re: Down the Drain Part : 55
- From: Buzz <buzzard99@xxxxxxx>
- Date: Wed, 12 Jan 2011 11:45:17 -0500
On Wed, 12 Jan 2011 11:36:15 -0500, WaIIy <WaIIy@(nft).invalid> wrote:
PRINGFIELD, Ill. (CBS) ? By a single vote, Illinois lawmakers approved a
66 percent increase to the personal income tax, and soon, your paycheck
will be shrinking.
But as CBS 2 Chief Correspondent Jay Levine reports, state lawmakers say
the tax hike is necessary to get the state?s outstanding bills paid.
Lawmakers also say cuts and spending limits will be part of the plan.
Around 1 a.m. Wednesday, the Illinois State Senate approved the tax hike
by a vote of 30 to 29. The state House of Representatives approved the
tax hike on Tuesday evening, by a vote of 60 to 57.
Gov. Pat Quinn still must sign the bill into law, but he has supported
the tax hike all along. In fact, he was on the Senate floor when the
vote was taken.
The hike increases the state?s personal income tax rate from 3 percent
to 5 percent.
In real numbers, if your gross income is $50,000 a year, your state
income taxes will rise from $1,500 to $2,500 a year.
The hike will also boost business taxes by nearly 50 percent.
Note : Chicago sales tax 9.75%
And the futile attempts continue.
Only when they address the unionized city employees' wages, benefits,
perks, etc. will they get any resolution.
As more and more gets out about the *deals* made with unionized city
workers in exchange for support and votes, the rest of the folks
paying for the deals will tire of it.
Heck, there may even be some vitriol!