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Recent Comments

GuyFawkes10 - 85,000 temporary driver\'s licenses issued to immigrants - Quincy, IL News - QuincyJournal.com
Is there any teeth to this new law? Will the license be taken away forever if caught driving with no insurance? Many won't get one because they will have to provide insurance. The way it is now, Juan when pulled over without a license or insurance just doesn't show up for court, then changes name to Jesus.
pjohnf - 85,000 temporary driver\'s licenses issued to immigrants - Quincy, IL News - QuincyJournal.com
Apparently the term "illegal" means nothing to Illinois politicians. "Supporters say the law saves Illinois motorists money and make roads safer." How is that logical, having obtained a drivers license doesn't prove you are a safe driver, it only proves you can pass a test. And how is money saved by giving illegals drivers licenses?
CoolEdge - Police-fire pensions to go up in smoke? - Quincy, IL News - QuincyJournal.com
during Iraqi Freedom (2003-2007) the death rate was 413/100,000, compared to 16/100,000 for the police. For Vietnam it was 2231/100,000. ... but they often get worse care than illegals.
CoolEdge - Police-fire pensions to go up in smoke? - Quincy, IL News - QuincyJournal.com
All pensions should be funded in a balanced budget. But do you really want to compare a 40 hour week as a Quincy cop with a 24/7 tour of duty in Iraq? The fatality rate is about four times as high for the soldier fighting in Afghanistan (and that includes big city numbers), not to mention the PTSD or other injuries. So your raw number tidbits are a bit deceptive. Farming is almost twice as dangerous…
CoolEdge - Police-fire pensions to go up in smoke? - Quincy, IL News - QuincyJournal.com
That's really the heart of it ... how do government officials have authority to negotiate promises (usually/often for political or monetary support in elections), that don't immediately collect the revenue to fund those promises/contracts? Budgets are supposed to balance, children can't be "taxed" (future obligations) without representation. I thought that was the idea of "PayGo",…

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Madigan proposes corporate income tax cut

11 months, 3 weeks ago pantagraph.com

Rate would drop from 7 percent to 3.5 percent under the plan

From pantagraph.com:

House Speaker Michael Madigan on Thursday proposed cutting Illinois' corporate income tax in half in an effort to improve the state's business climate, a move that also could help blunt election-year criticism that Democrats' policies are to blame for a sputtering economy and stubbornly high unemployment.

The legislation would cut the rate from 7 percent to 3.5 percent, effective Jan. 1, 2014. The powerful Chicago Democrat said it would save businesses an estimated $500 million to $700 million in the current fiscal year, which ends June 30.

"I am hopeful this legislation will encourage CEOs to grow their workforces with good paying jobs," Madigan said.

But business groups offered tepid praise, saying it would impact only a fraction of Illinois companies and that other taxes - particularly the personal income tax - are of greater concern.

Kim Clarke Maisch, Illinois director of the National Federation of Independent Businesses, said 75 percent of small businesses are organized in such a way that they pay personal income taxes on all business income. According to the Legislature's Commission on Government Forecasting and Accountability, of the companies organized to pay corporate income tax, about 70 percent had no tax liability in 2010.

"It's a step in the right direction, but the real job creators are small business owners, so if we're looking to give them relief, it would be better if we were to focus on the personal income tax as well," Maisch said.

Speaking to reporters in Chicago, Gov. Pat Quinn said he hadn't talked to Madigan and wouldn't say whether he supported the idea in advance of next month's budget address.

"We'll be preparing a budget," Quinn said. "We'll look at everybody's concepts."

Democratic lawmakers in 2011 approved a temporary tax hike as a way to address Illinois' fiscal crisis. It raised the corporate income tax from 4.8 percent to 7 percent and the personal income tax from 3 percent to 5 percent.

Republicans have made the tax increase a big focus heading into the 2014 election, arguing that the Democrat-controlled Legislature squandered the billions in additional revenue and that the hike drove businesses out of state. They note Illinois still has a roughly $6 billion backlog of unpaid bills and one of the highest unemployment rates in the nation.

The issue also has become more prominent this year because the higher rates are scheduled to roll back on Jan. 1, with the corporate rate dropping to 5.25 percent and the personal income tax to 3.75 percent. Those changes would reduce revenues by about $2 billion in the second half of the next fiscal year, forcing lawmakers to either cut spending or pass new tax legislation.

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