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Posts Tagged ‘Income Tax’

Temporary Income Tax in Illinois

Wednesday, February 16th, 2011

When does the madness stop or is it just starting? The Illinois State Legislature is playing Obama Poker with their citizens. I have family members in Illinois will be affected by the proposed tax increase scale through the state’s Tuesday, January 11, 2011. Personal income tax is expected to increase from 3% to 5% and corporate tax to 7% from 4.8%. (For all those who cut class algebra, which is an additional tax on income $ 1,000 $ 50,000.) I believe this will be a “temporary” tax increase to help the state get out from $ 13 billion deficit. Expected through early today in the Illinois Senate. Maybe my family will eventually decide to move closer to home?

Living in Pennsylvania I am well aware of “temporary” tax increases. One of our most publicized taxes is the Johnstown Flood tax in response to the 1936 flood. It was created to help clean up and aid the affected flood victims. Approximately 75 years later, the “temporary” tax collects around $200 million annually that goes into the general fund. It is no longer used to help the victims of the flood. I am curious though, how many of the victims affected by the Jamestown flood are still alive today?

If I was a descendent of the Jamestown flood victims, I would demand restitution to get what is rightfully mine. Why not? It’s not my fault that my ancestors choose to live on a well-known flood plain especially since it only happened in 1894, 1896, 1907 and 1924. What personal qualities are important? Customer service is key. Food service is particularly vulnerable. Guests must be properly greeted, Service must be good, food and drinks above average. Prices must represent value. Retail shops must acknowledge customers but allow some “adjustment” time.

Good luck, Illinois. There is nothing “temporary” tax on the increase. Learn to cut spending and take a serious look at the benefits that the increasing risk of bankruptcy of your state. Just to let you know, Governor Brown (D) of California is proposing to extend “temporary” sales and income tax and cut services to help them out of the quagmire of their own interests. I believe that California will soon be playing poker than Obama.