Illinois does not want us!
Governor blagojevich........why do you not care about businesses located in the state of Illinois? You have created new business fees, you have increased existing business fees and now you want more. Why can you not have a fiscally responsible budget and control your spending? Perhaps it simply because you feel better about yourself by spending and spending. To do so, you constantly turn to in-state business firms to support your habit. If you were to create a healthier environment for firms, instead of driving them into submission, perhaps more revenues would be created simply by having a stronger economy in the state driven by firms that can survive and thus create more jobs. Simple Economics is something that you choose to ignore or take the time to understand.
What is next?......blagojevich now has proposed the largest tax increase ever proposed in history. His proposal to tax all sales of goods and services in the state will be devastating to Illinois employers and will burden consumers with higher costs.
The Governor is tying his catastrophic tax increase to an extravagant expansion of government-funded health care. Not only will his health care plan hurt the private health care marketplace, but the Goods and Services Tax will decimate the economy, likely reulting in more uninsured individuals.
The Goods and Services Tax, referred to as a Gross Receipts Tax(GRT) is simply a form of income tax that taxes all revenues, not actual business profits. The GRT taxes business income even when they do not have profit. The state will take its share right off the top. Even businesses in the red or breaking even will pay a hefty state tax making it harder to keep jobs.
Because the GRT applies to each busniness that helps produce and distribute a product, the tax compounds, or "pyramids" on the end product. Because every stage of production and distribution is taxed, higher prices are embedded in the products. This process could very easily reult in a 10 to 15 cent increase in a gallon of gasoline. Expanding taxation of services and the pyramid impact makes a GRT especially regressive for Illinois consumers.
Illinois has simply turned itself into a big business that creates its own rules. And I thought we were living in the free world...........Welcome to blagojevichville!!!!!!
What is next?......blagojevich now has proposed the largest tax increase ever proposed in history. His proposal to tax all sales of goods and services in the state will be devastating to Illinois employers and will burden consumers with higher costs.
The Governor is tying his catastrophic tax increase to an extravagant expansion of government-funded health care. Not only will his health care plan hurt the private health care marketplace, but the Goods and Services Tax will decimate the economy, likely reulting in more uninsured individuals.
The Goods and Services Tax, referred to as a Gross Receipts Tax(GRT) is simply a form of income tax that taxes all revenues, not actual business profits. The GRT taxes business income even when they do not have profit. The state will take its share right off the top. Even businesses in the red or breaking even will pay a hefty state tax making it harder to keep jobs.
Because the GRT applies to each busniness that helps produce and distribute a product, the tax compounds, or "pyramids" on the end product. Because every stage of production and distribution is taxed, higher prices are embedded in the products. This process could very easily reult in a 10 to 15 cent increase in a gallon of gasoline. Expanding taxation of services and the pyramid impact makes a GRT especially regressive for Illinois consumers.
Illinois has simply turned itself into a big business that creates its own rules. And I thought we were living in the free world...........Welcome to blagojevichville!!!!!!
posted by Snowstar Ski Resort at
7:48 AM
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