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

Illinois has a habit of enacting temporary taxes and fees that are later made permanent and transferred to private companies whose officers carry political clout. The Illinois tollway was suppose to be a 4 year program in the late 60's.

Take a look at the Illinois Lottery... on the surface it looks good. 30% going to schools $625 Million 58% going to the winners. 1.25 Billion .. except the amount never gets paid out in full to the winners. They get less than 1/2 upfront and the balance is invested funny money.
$150 Million gets paid out in Commissions.
$125 Million is their operating slush fund.
The schools don't get all the proceeds either. Most of the funds are diverted into the teachers pension funds.

There are some fat cats living high on the lottery hog.
 
Quote from BSAM:

I'm kinda at a loss as to why hardly anyone lives in Illinois. If you're wealthy from your occupation there, I guess it's justifiable, but otherwise...
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The Weiner's Circle. One of the many reasons to live in Chicago.
 
The place is a riot. Where else can one go at 2 am, completely hammered, and have some lady curse at you while taking your order. Best cheese fries on the planet....hands down.
 
Quote from misterno:

Lived in Boston till 2001 and when I moved to Houston, I felt like I got a payraise %100

everything is so cheap I mean some things are like 1/6th even 1/10th of Boston, I am like how come I did not move before. Yet the net salary is almost same in Houston.

Never paid for parking, lots of apartments so cheap and includes all the utilities. Back in Boston, I had friends paying $500/month for heating in winter time, here I am paying rent close to that including everything.

When I first came to Houston, there were apartments which has the maid service included. I once called and asked what a maid service is. Managements said "it is a cleaning lady coming every week and do light cleaning including carpet cleaning with the machine. I was shocked when I heard this. (Now it is gone)

There were only handful of restaurants in Boston, but every neighborhood in Houston has more restaurants than the whole Boston.

I used to pay %5.5 state tax on my dividends and interest earned in savings and checking account back in Boston. Texas has no state taxes

I don't understand why any frugal person wanna live in MA. Waste of money.

Call it exaggeration or whatever, the life standards of an illegal mexican in Houston is the same as a professor in a university in Boston in many ways. You won't believe what type of housing and life style they have in MA.
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Some context. A number of people I know of, whom live in TX, have told me that electrical runs $400 plus a month for air con in the summer in their McMansions. Additionally, property taxes are very high in some parts, 3%.
 
Quote from dandxg:

Some context. A number of people I know of, whom live in TX, have told me that electrical runs $400 plus a month for air con in the summer in their McMansions. Additionally, property taxes are very high in some parts, 3%.
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OK, let me correct part of this. Property taxes are high in percentage terms. However in dollar terms they are far less then Chicago. Sure, you'll pay 2.5% on your 350k McMansion. However what you are leaving out is that same house would be 800k to 900k in a nice Chicago suburb or a million plus in CA or NY. So dollar for dollar, your property taxes are much less.

Yes, your air conditioning can run high 4 months out of the year. But the other 8 months it will never be on and you won't use much heat either.
 
Yep, some of the McMansions can run into the 400 and 500 price in Energy per month in the Summer.

However, I live in about 2800sq ft Wearhouse space, Loft, Concrete floors, 22 foot ceilings and wall to wall windows......My electric bill last month was 100 bucks. The Space is All open as well.

Keep in mind what Mav posted as well. All of it is correct and RE has not taking much of a hit, like in Chicago.

A friend started a "Green" building company where 70K, including the labor, will bring your house into "Green" zone. His clients have shaved off half of their montly utility cost with just the "Solar" Tape.

The one thing that is the highest in Texas, is Property Tax. That is true as well.

But over all, Texas is far cheaper to live in than the East or West coast.
 
I'm kinda at a loss as to why hardly anyone lives in Illinois. If you're wealthy from your occupation there, I guess it's justifiable, but otherwise...
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Well at least in Chicago....I do know why. I spent 9 years there. It is a great city, beautiful downtown and you can head out to the PlayPen and lakeshore beach front in the summer.

I get the urge to return...as I miss it...but I also understand that the Chicago I fel in love with....is Gone forever. It isn't the same city and it isn't gona get much better either. Soon, the brain drain and Capital Drain will be evident and one can only hope it doesn't turn in to the Chicago of the 70s.
 
I am not knocking Texas, other than the summertime heat. Even Texans that I know say it's brutal. I think Texas has a lot going for it.

I recently heard as well, you can bid for electrical rates in Houston. My cousin's colleague had bids from 2-3 electrical companies.
 
I lived in Wrigleyville for 10 years. The reason I left, winter and taxes.

But I really do miss the farts Old Style used to give you as you are listening to Ronnie Woo Woo in the bleachers.
 
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