IL state income taxes to go up 75%?!?!?!?!?!

Quote from EMRGLOBAL:

uptick.....

The name of the money game going forwarded is that very last sentance...."Things are not going to change".

It is simple. It is obvious and it is Human Nature. Thus, in such a short time, from 99 till 2011 we have lived through some serious bubbles, moves, and crazy history.

Thus, sit back and watch for the same patterns .........I see them now in bonds. I see them in Hard Asset plays overseas. I'm not talking Qchart Patterns as I hardly trade anymore. I'm talking Patterns in "Human" nature and where the smart money will flow.

There will be pleny of ways to make money because the risk/reward is to bet against "Change". The odds are, we will not change and neither will the world.

therefore people make the same mistakes over and over?
people are always late to the party?
 
Quote from EMRGLOBAL:

MAV, I do not share in your "Wanting" to support a tax hike. Hence, my move to Texas.

hell yes. the texas miracle we keep hearing about:

"And that reality has implications for the nation as a whole. For Texas is where the modern conservative theory of budgeting — the belief that you should never raise taxes under any circumstances, that you can always balance the budget by cutting wasteful spending — has been implemented most completely. If the theory can’t make it there, it can’t make it anywhere.

How bad is the Texas deficit? Comparing budget crises among states is tricky, for technical reasons. Still, data from the Center on Budget and Policy Priorities suggest that the Texas budget gap is worse than New York’s, about as bad as California’s, but not quite up to New Jersey levels. "

http://www.nytimes.com/2011/01/07/opinion/07krugman.html?_r=2&ref=opinion
 
Quote from Bob111:

it's only a matter of time...question to all states-any plans to cut spending? like Mav-i have no problem to support the state via higher taxes,but i really like to see how they spent my dollars. i would like to see a lot of cuts,if they are so desperate. right now IL and many other states looks like a white trash average joe,who bought that mc' mansion in 2007 and now don't have money to keep it warm..
hey! i'm desperate here! i'm freezing! i need some money for a heating oil! fucking sell it,take the loss and move back to the fucking trailer.

Just classic. :p Just visited some friends in Kalifornia. He has student loans, WIC food stamps for his 2 year old, and $200 HTC evo! WTF!
 
Quote from Free Thinker:

hell yes. the texas miracle we keep hearing about:

"And that reality has implications for the nation as a whole. For Texas is where the modern conservative theory of budgeting — the belief that you should never raise taxes under any circumstances, that you can always balance the budget by cutting wasteful spending — has been implemented most completely. If the theory can’t make it there, it can’t make it anywhere.

How bad is the Texas deficit? Comparing budget crises among states is tricky, for technical reasons. Still, data from the Center on Budget and Policy Priorities suggest that the Texas budget gap is worse than New York’s, about as bad as California’s, but not quite up to New Jersey levels. "

http://www.nytimes.com/2011/01/07/opinion/07krugman.html?_r=2&ref=opinion

And you don't think immigration is a big part of that? Really? Seriously? OK.
 
Quote from EMRGLOBAL:

MAV, I do not share in your "Wanting" to support a tax hike. Hence, my move to Texas. Pretty much 100% of my clients also do not share in the support of a "Tax Hike" in their state, county, or property.

Altruism is a nobel move, when you donate your own money. Tax's are nothing but redistribution of wealth.

Cut social services, Cut education for those Schools who are not performing well, break the unions, and cut out the Pork Barrel spending.

Raising taxes is just a motion to continue to spend beyond the State's Means.

More and more capital will continue to flow outside the US as long as the TAX HIKE theory is alive and kicking. Of course, this is very good for my Private Equity Business, so I say..Raise Taxes and continue that philosophy.

But nevertheless, the Middle Class are the ones who truly feel the "Taxation".

I did not say I supported it. Look, the debt has to be paid. I get that. Both at the federal and the state level. We're f*cked. What I'm saying is that I want to fix the problem, not just the symptom. I would pay the tax if they stopped with the overspending.

The problem is IL has no plan to stop with the corruption. That's how they hold power. You vote democrat and you get promised a big city or state public job with a fat pension. Total fraud. I'll never understand why those in IL who do not work in the public sector support this left wing bullshit.
 
Quote from Maverick74:

And you don't think immigration is a big part of that? Really? Seriously? OK.

it probably is but how does that change the fact that the hole has to be filled? what you going to do kick them out?
business moves to texas for cheap labor and low taxes. they dont pay enough in wages to support the workforce or taxes to support the infrastructure. the public sector has to eventually step in to make up the difference.
at least you cant blame the unions for it all in texas. there arent many.
 
Quote from Free Thinker:

it probably is but how does that change the fact that the hole has to be filled? what you going to do kick them out?
business moves to texas for cheap labor and low taxes. they dont pay enough in wages to support the workforce or taxes to support the infrastructure. the public sector has to eventually step in to make up the difference.
at least you cant blame the unions for it all in texas. there arent many.

I've said this before and I'll say it again. Stop giving illegals benefits and they'll stop coming across the border. The state is creating the illegal demand there. They are giving them benefits for nothing. I would run across the border too if I were them. Second thing they have to do is start enforcing their laws about hiring illegals. You do that and they will walk back the same way they came in.
 
How bad is the Texas deficit?

-----------------------------

A: NYTIMES as a source is a joke. Not worth a coment.

B: Texas is running a deficit. However, nothing like NY, IL, NJ.

C: Houston, as a city, is in as bad as shape as Chicago, and NYC however, that is not the STATE OF TEXAS. Houston is a sanctuary city, illegals and the flood of poverty from LA after the Hurrican. Houston is run by progressives and they are in danger of defaulting on their Muni's this spring.

However with that being said, TEXAS as a whole, is in far better shape than CA, IL and NY state.

There is a illegal immigration problem that is a drain but more so on such cities like Houston and Dallas.

Yet, the financial health of the State is in far better shape than 48 states in this country and the current State Gov is moving to pass cost cutting measures.

Property Value's are far better when comparied to the rest of the country, the overall influx of Manufacturing and Jobs in general is trumping the rest of the country. OIL and GAS and Alternitive Energy Funding is pooring into the state.

The country is in a Depression, no state was untouched. However, Texas as a state, is in better fiscal shape to dig out of the Depression and end up on a very strong fiscal note.
 
texas for cheap labor and low taxes:
--------------------------------------

Yes and no. Low taxes yes, pro business yes, lower energy cost and buiding cost yes.

Cheap Labor: Depends....Low skill and no skill labor is here. However, I know plenty of individuals making a Half a Million or more a year. The "Skilled" labor, Doctors, Lawyers, Ceo's, Middle Managment can make between 70 to 120 a year. The cost of living and the lower taxes (except property tax) give those making a simple 40K a year more Purchasing power.

The last 4 years in places like Austin and San Antonio, a huge influx of well educated and skilled labor has trumpt "Low wage" workers.

Infact, the Low wage workers are the ones on the Unemployment rolls for the most part. Housing manufacturing/construction workers were the most effected. Those jobs will not return to prior levels.

Walmart, Call Centers and Banks take advantage of the 12 hour uneducated workers. But that is in any State.

More Invesment Capital is flowing into the state than 49 other states. Texas is the new "West" and the gold rush is on.

Regardless of what the NYTIMES reports.
 
When the original Anglo-Texas population is finally overwhelmed by newcomers, the state will go to hell as has already started to happen with "sanctuary cities" and the like.

Folks, demographics are destiny. Don't let liberal fools con you into believing otherwise.
 
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