Jummy John's subs from IL to anywhere else

[nick1985]

The real question becomes what state will have the lower overall income taxes over the long haul for both business and personal.

I can tell you a few states that it wont be.

 

[K1052]

Corporations also pay a 2.5 percent tax on income, called the personal property replacement tax, which is collected by the state and flows to local governments. The two rates taken together come to 9.5 percent, the third-highest rate in the U.S., according to the Tax Foundation, a non-partisan Washington-based research group.


http://articles.chicagotribune.com/...es-20110112_1_tax-rate-income-tax-tax-package

Even if you figure in the PPRT the difference only comes out to 1.7% in WI's favor. When the reset happens the combined rate again falls to below WI's corp tax level. A lot of that PPRT also finds it's ways back to business by helping municipal and county agencies maintain their services without raising fees locally.

 

[nick1985]

Even if you figure in the PPRT the difference only comes out to 1.7% in WI's favor.

+ 2 years tax free they are offering.

When the reset happens

lol

 

[K1052]

I can tell you a few states that it wont be.

I'll go with NJ and CA.

IL at least is has been willing to start facing down the pension problem. Quinn needs to get off his ass and continue pushing the legislature into making more cuts.

 

[IndyColtsFan]

The sunset provision was specifically written into the legislation. As are the spending caps that if violated automatically repeal the entire tax increase. It never would have passed without those provisions.

I am very, very well aware of that. Want to take a guess what will happen in 4 years if Illinois is still deep in the red?

Incentives are nice but they don't last and IL can (and has) easily replicate them. Chicago in particular has zero qualms about wheeling and dealing with companies to attract and keep them. The real question becomes what state will have the lower overall income taxes over the long haul for both business and personal.

That is the question and IMO, does not favor Illinois long-term. They may or may not repeal those taxes in 4 years. My guess is that they won't be in a position to allow them to sunset.

 

[K1052]

+ 2 years tax free they are offering.





lol

It can cost many millions to relocate a sizable business. They aren't going to move unless permanent tax cuts are enacted in addition to the incentives. WI acts like they're the first state to have thought of doing this while IL (particularly Chicago) has been offering these sort of incentives for the last 20 years.

 

[K1052]

I am very, very well aware of that. Want to take a guess what will happen in 4 years if Illinois is still deep in the red?



That is the question and IMO, does not favor Illinois long-term. They may or may not repeal those taxes in 4 years. My guess is that they won't be in a position to allow them to sunset.

Extension would be political suicide, even many of the Dems that voted for it did so pretty unhappily.

IL bought some breathing room but now the gov and legislature need to get into making the cuts to level out the budget for when we come out the other side.

 

[spidey07]

Extension would be political suicide, even many of the Dems that voted for it did so pretty unhappily.

IL bought some breathing room but now the gov and legislature need to get into making the cuts to level out the budget for when we come out the other side.

If you can find any tax increase on the state level that was suppose to "expire" that didn't remain in place that would be great.

It never happens, no mattter the state. Once they get that money, they NEVER let go of it.

 

[K1052]

If you can find any tax increase on the state level that was suppose to "expire" that didn't remain in place that would be great.

It never happens, no mattter the state. Once they get that money, they NEVER let go of it.

IL has a mixed history with temp tax increase, some have rolled back and some have not. However such a large increase has never been passed at one time. It would be extremely risky for Dems in the legislature to support any extension since they already face a hard sell to their constituents on the temporary tax increase of this magnitude. Not to mention the Republicans behind them who certainly aren't going to let them or Quinn forget.

Quinn would be eviscerated by any halfway decent Republican candidate if he supported the extension during the next election.

 

[PokerGuy]

It never happens, no mattter the state. Once they get that money, they NEVER let go of it.

That is true pretty much at all levels. Rates go up, they never go down. That's the nature of government waste.

 

[spidey07]

IL has a mixed history with temp tax increase, some have rolled back and some have not. However such a large increase has never been passed at one time. It would be extremely risky for Dems in the legislature to support any extension since they already face a hard sell to their constituents on the temporary tax increase of this magnitude. Not to mention the Republicans behind them who certainly aren't going to let them or Quinn forget.

Quinn would be eviscerated by any halfway decent Republican candidate if he supported the extension during the next election.

Then let me explain what will happen. They'll say they won't allow the increases to continue but as a "compromise" they'll lower them .5% still leaving you with very high rates.

 

[chucky2]

The extension isn't the problem if explained clearly to the public why it is needed.

The problem is when the public hears that, asks how many Billions have you cut, and the answer is: Cut? Oh...yeah, er, well....we haven't cut anything.

Or....

Cut? Oh...yeah, er, we....we managed to cut <Dr. Evil voice>1 Million dollars</Dr. Evil voice> from the budget.

To be met by stunned cricket silence by the public.

I don't think most of the public would be enraged by paying more (for sure they'll not be happy), what enrages the public is when they pay more, and the politicians don't do their job and cut the massive budget that their political bodies themselves allowed to get out of hand.

Chuck

 

[K1052]

The extension isn't the problem if explained clearly to the public why it is needed.

The problem is when the public hears that, asks how many Billions have you cut, and the answer is: Cut? Oh...yeah, er, well....we haven't cut anything.

Or....

Cut? Oh...yeah, er, we....we managed to cut <Dr. Evil voice>1 Million dollars</Dr. Evil voice> from the budget.

To be met by stunned cricket silence by the public.

I don't think most of the public would be enraged by paying more (for sure they'll not be happy), what enrages the public is when they pay more, and the politicians don't do their job and cut the massive budget that their political bodies themselves allowed to get out of hand.

Chuck

$220B in future pension obligation for was cut last year, including $1B in the first fiscal year after enactment. The prospect of deeper cuts for next year also looms now that Rahm is the front runner for Chicago mayor (he wants to alter existing pensions as well as future ones).

Quinn needs to take a page from the new Cook County Board President and require state agencies to make the requisite cuts in their budgets or do it for them if refused.

 

[nick1985]

The extension isn't the problem if explained clearly to the public why it is needed.

The problem is when the public hears that, asks how many Billions have you cut, and the answer is: Cut? Oh...yeah, er, well....we haven't cut anything.

Or....

Cut? Oh...yeah, er, we....we managed to cut <Dr. Evil voice>1 Million dollars</Dr. Evil voice> from the budget.

To be met by stunned cricket silence by the public.

I don't think most of the public would be enraged by paying more (for sure they'll not be happy), what enrages the public is when they pay more, and the politicians don't do their job and cut the massive budget that their political bodies themselves allowed to get out of hand.

Chuck

Actually state spending went UP. They refused to cut anything and raised everyone's taxes by a fuck ton

 

[CPA]

You libs really crack me up. You offer no rebuttal, no response, just your fantasy drivel. Go back to your big Gubmit and excessive taxes where you feel so comfortable. When you have something intelligent to add, come back and post.

Here are the facts of this situation. Here we have a sucessful business owner who is considering moving his hq because he disagrees with the recent tax increases in his state. Guess what this is called? Wait for it........... CAPITALISM!!!! Capitalists take action. They do not wait around for Big Gubmit, they go around Big Gubmit and their dopey policies.

Red is not a lib, she is a unapologetic, hard-core socialist. At least you can respect most liberals.

 

[K1052]

Actually state spending went UP. They refused to cut anything and raised everyone's taxes by a fuck ton

The entire increase is committed to the $7B in overdue payments accruing 12% interest, deferred pension/medical fund payments, and some additional education funding.

 

[chucky2]

All of which the politicians knew would be happening: None of that happened by accident.

Which means if they knew about it, they should have been making sure to cut so as to not have the spending go up...especially considering how they're running a multi-Billion deficit already.

They didn't.

And the $220B is great, but it's over 25 years. And the funding, which this whole time has been designed to come from the state, will now have to come from somewhere else, namely, the taxpayers of the counties/cities that have those teachers, and/or, SS, which the teachers haven't contributed to, which means more underfunding of SS.

It's just like the Fed giving the states funds for road projects that state would have had to pay for, so the states could use those dollars on something else: Nothing is truly fixed, it's just smoke screened moved somewhere else.

Chuck

 

[bpatters69]

Show me, where since Regan any president actually made the government smaller. Just because its the new rhetoric of your party, doesn't mean its true yet. How about you wait till they actually make anything smaller.

Fine. Size is not important. Less wasteful and less costly are what is important. Not that either side would qualify

 

[K1052]

All of which the politicians knew would be happening: None of that happened by accident.

Which means if they knew about it, they should have been making sure to cut so as to not have the spending go up...especially considering how they're running a multi-Billion deficit already.

They didn't.

And the $220B is great, but it's over 25 years. And the funding, which this whole time has been designed to come from the state, will now have to come from somewhere else, namely, the taxpayers of the counties/cities that have those teachers, and/or, SS, which the teachers haven't contributed to, which means more underfunding of SS.

It's just like the Fed giving the states funds for road projects that state would have had to pay for, so the states could use those dollars on something else: Nothing is truly fixed, it's just smoke screened moved somewhere else.

Chuck

The changes effect future employees from the date of enactment, not current or former ones (except elimination of double dipping and various other bullshit that happens).

It is not possible to fully address three decades of chronically underfunded pensions in one fiscal year, let alone the mounting obligations that are projected for the next 20. The state is going to have to get back into the pensions and continue cutting payouts and upping the retirement age or else face financial ruin before the end of the decade. Many other states are in similar or worse positions.

 

[Perknose]

Hopefully he can remove his "restaurants" from all other states. JJ blows chunks.

Lol, you know how I can tell? He calls them subs.

Historically, the rolls (most important part) got cheap hot dog bun pasty, the meat got bologna and cooked ham awful, the cheese became American only, and mayo became the criminally slathered-on "condiment" as one ventured away from the areas where these sandwiches were and are made correctly.

And, while I'm sure that the slow yet inexorable spread of culinary enlightenment has changed this map and blurred the lines somewhat, I also know it still does pertain in many areas.

<------- Posting from well within the Cultural Republic of Hoagie Love.

 

[kranky]

Lol, you know how I can tell? He calls them subs.

Historically, the rolls (most important part) got cheap hot dog bun pasty, the meat got bologna and cooked ham awful, the cheese became American only, and mayo became the criminally slathered-on "condiment" as one ventured away from the areas where these sandwiches were and are made correctly.

And, while I'm sure that the slow yet inexorable spread of culinary enlightenment has changed this map and blurred the lines somewhat, I also know it still does pertain in many areas.

<------- Posting from well within the Cultural Republic of Hoagie Love.

Not to sidetrack this thread but I have to agree with a couple things. First, the rolls DO make the hoagie. And the best I have ever had were in Philly. I can't understand why everyone doesn't make theirs the same way. It can't be that difficult. Also, I will point out you can get quality hoagies on either side of PA.

I have never had a JJ hoagie but since there are more than enough places around Pittsburgh to get a top-notch hoagie I don't generally go to chains.

 

[Jhhnn]

Mega millionaire whines about paying taxes, and the usual Righties chime in like the Mormon Tabernacle Choir coming up in the background. Uhhh-Waaahhh!

Obviously, taxes have been too low for too long, which is why the govt needs to borrow money. Cutting spending just cuts payrolls, and it's not like the private sector is clamoring to hire people away from govt jobs. So let's do it, reduce demand, which will further depress business so we can have a nice race to the bottom. Who wins? not people who work for a living, but rather people who have huge idle liquidity like in the 30's, when J Paul Getty could buy small oil companies cheaper than buying their oil...

 

[IndyColtsFan]

Obviously, taxes have been too low for too long, which is why the govt needs to borrow money.

Yeah, that's it. It could never be that the government spends too much money or initiates bloated programs it has no business initiating. I'm glad you made us see the light.

 

[Jhhnn]

Yeh! Bloated programs like... Food Stamps!

http://www.telegraph.co.uk/finance/...eepening-crisis-traps-Americas-have-nots.html

Meanwhile, the financial elite is flaunting their wealth again, offshoring what jobs are left as fast as possible, and Righties just luvs the idea of cutting basic services, like police, fire, roads, safety inspections, you name it.

The lame and stupid raving really is astounding. No wonder Germans think we're insane-

http://www.alternet.org/story/149324/america_in_decline:_why_germans_think_we

And they're still the world's leading export economy.

Figure it out, numbnuts, or let the financial elite eat us all for a snack.

 

[Rainsford]

Yeah, that's it. It could never be that the government spends too much money or initiates bloated programs it has no business initiating. I'm glad you made us see the light.

Sure, but if that's the issue, why is the complaint almost always about tax LEVELS? It seems to me like it's entirely possible that lower tax states could also be way more wasteful than states with higher tax.