Liberal Heaven, Illinois Careens Into Financial Meltdown
- Thread starter i am herdman
- Start date
Yawn. Plenty of conservative states have pension issues, too. As we all know, shirking paying bills is not a partisan game.
The first public pension was for Revolutionary War veterans. I never knew Washington was a liberal.
Bruce Vincent Rauner is an American businessman, philanthropist, and politician. He is the 42nd and current Governor of Illinois, serving since January 12, 2015.Wikipedia
Born: February 18, 1957 (age 60), Chicago, IL
Office: Governor of Illinois since 2015
Spouse: Diana Rauner (m. 1994), Beth Konker Wessel (m. 1980–1993)
Political party: Republican Party
LOOKS LIKE A CONSERVATIVE HAVEN, THANKS
FOR PLAYING BETTER LUCK NEXT TIME.
Born: February 18, 1957 (age 60), Chicago, IL
Office: Governor of Illinois since 2015
Spouse: Diana Rauner (m. 1994), Beth Konker Wessel (m. 1980–1993)
Political party: Republican Party
LOOKS LIKE A CONSERVATIVE HAVEN, THANKS
FOR PLAYING BETTER LUCK NEXT TIME.
You think that one guy caused all of Illinois issues? One f'ing governor.
You are really retarded.
They should have followed the example of the conservative paradise of Kansas.
great at fvcking up health care, increasing racial tensions, killing WV's economy, etc. i'm sure you're just tickled he promoted the installation of transgender facilities nationwide, good for you.
Compared to the bills that have come out of the cheetos factory, his plan is genius.
Not as much as under cheetos.
What happened? Did it go from 50th to 50th?
Good thing it wasn't obama that was responsible for desegregation. That would've really angered you.
can't believe i'm gonna reply to the board moron, but here goes.
- cheetos health care plan is yet to be determined. one thing for sure, though, i'm certain CNN, the NYT, and WaPo, will keep us well informed about how it'll bankrupt the world's economy if enacted.
- racial tensions under cheetos worse? you're simply a facking moron if you believe this, but that goes without saying.
- yeah, 50th to 50th. ask your local legislator what happened to their $800 million rainy day fund.
boom roasted.
I think we've all muttered under our breath "I can't believe I'm gonna reply to the board moron" when responding to one of greed's stupid posts
That's because you didn't.
It can be determined that it's pitiful.
Nope, CBO has already informed us of much of the plan's damage.
You're a moron for not believing it. http://www.reuters.com/article/us-usa-trump-poll-race-idUSKBN17U1JU
Don't need to ask them. I already know. A decade of tax cuts will do that for you.
But you don't win until you get on the ignore list.
No more e-meter cans for me. Just Big K until my kidneys kill me. Then I might just hold empty pop cans for the hell of it.
No more e-meter cans for me. Just Big K until my kidneys kill me. Then I might just hold empty pop cans for the hell of it.
ahhh, the typical snowflake lib. start calling names when the majority doesn't agree with them. before you rebut with being called a moron all the time, that's just a fact.
other than the tax on food being eliminated, what tax cuts do you speak of in the state of West Virginia?
Extra would you go down on a man if trump would be kicked out of office? Not a big deal for liberals. Your kind have been fighting for that right for years. Sodomy is still illegal in lot of states. Im bettin those states voted for Donald "Big Cod" Trump.
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Significant West Virginia Tax Reductions Since 2006
Consumer Sales and Service Tax Value
1. Phase-out of sales tax on food for home consumption: $162 million
a. Rate from 6% to 5% on January 1, 2006
b. Rate from 5% to 4% on July 1, 2007
c. Rate from 4% to 3% on July 1, 2008
d. Rate from 3% to 2% on January 1, 2012
e. Rate from 2% to 1% on July 1, 2012
f. Rate from 1%to 0% on July 1, 2013
2. Expansion of Prescription Drug Exemption: 13 million
a. Purchases by health care providers exempt on July 1, 2007
3. Expansion of Pass-Through Exemption for Contractors 7 million
a. Direct use exemptions apply to contractor purchases
b. Expansion to manufacturing contractors on July 1, 2007
c. Expansion to other direct use exemption entities on July 1, 2009
Subtotal $ 182 million
Personal Income Tax Value
1. Refundable Homestead Exemption Tax Credit Expanded $ 5 million
a. Tax credit doubled from tax on first $10,000 to $20,000 in 2007
2. Low-Income Family Tax Credit 18 million
a. Eliminates tax on families at or below poverty level in 2007
3. Refundable Excess Homestead Tax Credit 3 million
a. Tax credit of up to $1,000 for residential property tax in 2008
b. Residential property tax must be greater than 4% of gross income
4. Repeal State Alternative Minimum Tax (AMT) in 2010 1 million
Subtotal $ 27 million
Corporation Net Income/Business Franchise Tax Value
1. Rate Reductions in 2007 – [Value $35 million less $10 million] $ 25 million
a. Corporation Net Income Tax Rate from 9.0% to 8.75%
b. Business Franchise Tax Rate from 0.7% to 0.55%
c. Repeal of Capital Company Tax Credit – Value up to $10 million
2. Combined Reporting Reform Acts – Effective in 2009 $180 million
a. Adopt combined reporting requirement for unitary groups
b. Phase-out Business Franchise Tax
i. From 0.55% to 0.48% in 2009
ii. From 0.48% to 0.41% in 2010
iii. From 0.41% to 0.34% in 2011
iv. From 0.34% to 0.27% in 2012
v. From 0.27% to 0.20% in 2013
vi. From 0.20% to 0.10% in 2014
vii. From 0.10% to 0% in 2015
c. Phase-down Corporation Net Income Tax Rate
i. From 8.75% to 8.5% in 2009
ii. From 8.5% to 7.75% in 2012
iii. From 7.75% to 7.0% in 2013
iv. From 7.0% to 6.5% in 2014
d. Increase Manufacturing Investment Tax Credit offset
i. Maximum tax offset increased from 50% to 60%
e. Manufacturing Property Tax Adjustment Credit
i. Credit for local property taxes paid on manufacturing inventory
f. Temporary Financial Organization Goodwill Credit
i. 50% of added goodwill associated with non-domiciled bank acquisition
ii. Tax credit equals franchise tax rate multiplied by 50% of added goodwill
g. Temporary Financial Organization Adjusted Tax Credit
i. Reduces added income tax liability associated with combined reporting
ii. 80% credit in 2009
iii. 60% credit in 2010
iv. 40% credit in 2011
v. 20% credit in 2012
vi. 10% credit in 2013
vii. Minimum tax of $1 million applies
Subtotal $205 million
Other Taxes Value
1. Regular Timber Severance Tax $ 3 million
a. Rate reduction from 3.22% to 1.22% in 2007
b. Temporary suspension of tax in 20102. Repeal Corporate Charter Tax 7 million
a. Effective July 1, 20083. Elimination of Business Registration Renewal Fees 1 million
a. Effective as of July 1, 2011 for half of businesses on 2 year cycle
b. Effective as of July 1, 2012 for half of businesses on 2 year cycle4. Repeal Telecommunications Tax 0 million
a. Minimal loss effective in 2013
b. Most tax eliminated by way of growing competitive service exemptionSubtotal $ 11 million
Grand Total from 2006 to 2015 (FY2007-FY2016) $425 million
Can we get a citation...I may want to use this in the future.
Tax cuts are great...unless there is shit that needs paid for. WV has great needs if it is going to move past a coal economy.
http://www.wvpolicy.org/how-the-marcellus-boom-masked-west-virginias-tax-cut-problems/
Go to second paragraph and click on "business tax cuts".
