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  1. #1 More Proof Higher Taxes Work! 
    Destroyer of Worlds Apocalypse's Avatar
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    Chicago Board of Trade and Chicago Mercantile Exchange may leave Illinois for greener pastures.


    Bloomberg Businessweek


    Focus is on Ill. Tax Hike after CME Threatens Move
    by Deanna Bellandi, 10 June 2011


    The suggestion by the owner of two major futures exchanges in Chicago that it could move jobs out of Illinois because of the state’s business tax casts another spotlight on the unpopular increase Democratic Gov. Pat Quinn said was necessary to help rescue the state’s finances.


    CME Group, which owns the Chicago Mercantile Exchange and the Chicago Board of Trade, said this week it is studying a possible relocation. The announcement comes just a couple months after manufacturing giant Caterpillar Inc. in central Illinois said it had been courted by other states. Caterpillar has since said it is staying put.


    * * *


    Dealing with a massive budget deficit, Illinois raised its corporate tax rate in January from 4.8 percent to 7 percent and the personal income tax rate from 3 percent to 5 percent. That enticed other states, including New Jersey, Indiana and Wisconsin, to try to poach Illinois businesses.


    * * *


    Last year, Illinois agreed to give $272.7 million in tax breaks and other incentives to 67 companies that were courted by other states to move their jobs elsewhere, according to state records. This year the promised incentives … are likely to surpass last year’s total.


    * * *


    “I don’t think anybody likes paying taxes, but that’s the price of having a democracy,” [Quinn] said.


    Chicago Mayor Rahm Emanuel said he … was “confident” the exchanges would stay in Chicago. He did not elaborate.


    http://www.businessweek.com/ap/finan.../D9NP0L0O0.htm

    * * *


    Illinois Chamber of Commerce chief Doug Whitley said it’s not good enough for Illinois government to try to craft incentive packages for businesses after the state raised their taxes.


    “Politicians need to pay attention to what employers are thinking. There are economic consequences to political decisions that they sometimes ignore,” Whitley said.




    -------------


    To remind everyone what the 'experts' said when they raised the taxes.


    Illinois’ recent income tax increase won’t cause a mass exodus of businesses from the state, experts agree.



    “Businesses like to say that they leave states because of tax issues, but businesses are not actually all that mobile, and I think it’s a lot less common for businesses to leave from tax issues as is commonly believed.”

    Now Illinois is bribing every major employer there to stay. My word, did they forget how they got Boeing to relocate to Illinois?



    In addition, many annalist are estimating the total bribes to industries to stay, are now equal to, or more then they estimated they would raise from the tax increase.

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  2. #2  
    Senior Member Apache's Avatar
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    This almost looks like a shell game, if I didn't know any better (which I really don't) I'd bet it was...
    Government is not the solution to our problem, government is the problem.
    Ronald Reagan

    We could say they are spending like drunken sailors. That would be unfair to drunken sailors, they're spending their OWN money.
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    I wish Boeing would leave.
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    Quote Originally Posted by KhrushchevsShoe View Post
    I wish Boeing would leave.
    I'm sure you do.
    In most sports, cold-cocking an opposing player repeatedly in the face with a series of gigantic Slovakian uppercuts would get you a multi-game suspension without pay.

    In hockey, it means you have to sit in the penalty box for five minutes.
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  5. #5  
    Senior Member Apache's Avatar
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    Quote Originally Posted by KhrushchevsShoe View Post
    I wish Boeing would leave.
    I know, right?

    Why would we want any jobs in Illinois, I mean its done wonders for Michiagan. Detroit is such a LOVELY city...
    Government is not the solution to our problem, government is the problem.
    Ronald Reagan

    We could say they are spending like drunken sailors. That would be unfair to drunken sailors, they're spending their OWN money.
    Ronald Reagan

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    Quote Originally Posted by Apache View Post
    I know, right?

    Why would we want any jobs in Illinois, I mean its done wonders for Michiagan. Detroit is such a LOVELY city...
    They dont create much jobs, and they loom over what has been a pretty benevolent city with their war profiteering.
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  7. #7  
    Senior Member Apache's Avatar
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    Quote Originally Posted by KhrushchevsShoe View Post
    They dont create much jobs, and they loom over what has been a pretty benevolent city with their war profiteering.
    Right, right,right...


    All them brightly paintrd 737/747's....
    Government is not the solution to our problem, government is the problem.
    Ronald Reagan

    We could say they are spending like drunken sailors. That would be unfair to drunken sailors, they're spending their OWN money.
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  8. #8  
    LTC Member Odysseus's Avatar
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    Quote Originally Posted by KhrushchevsShoe View Post
    They dont create much jobs, and they loom over what has been a pretty benevolent city with their war profiteering.
    We'd happily go to war in bi-planes, but our enemies have a tendency to take them down by flying close in at mach 2 and letting the air disturbance shake the wooden frames apart. Sorry to disappoint you, unless, of course, you would prefer to see Americans dying due to technological inferiority, in which case the bi-planes probably work for you.
    --Odysseus
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  9. #9  
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    Quote Originally Posted by Apache View Post
    Right, right,right...


    All them brightly paintrd 737/747's....
    LOL! No shit! Fuckin' Southwest Airlines war pigs....
    Olde-style, states' rights conservative. Ask if this concept confuses you.
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  10. #10  
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    Quote Originally Posted by Odysseus View Post
    We'd happily go to war in bi-planes, but our enemies have a tendency to take them down by flying close in at mach 2 and letting the air disturbance shake the wooden frames apart. Sorry to disappoint you, unless, of course, you would prefer to see Americans dying due to technological inferiority, in which case the bi-planes probably work for you.

    Not to mention if Boeing goes away...whose gonna sell Shoes buddies the ChiComs all those shiny 747-800's?
    In Memory Of My Friend 1st Sgt. Tim Millsap A Co, 70th Eng. Bn. 3rd Bde 1st AD...K.I.A. 25 April 2005

    Liberalism Is The Philosophy Of The Stupid

    To Achieve Ordered Liberty You Must Have Moral Order As Well

    The libs/dems of today are the Quislings of former years. The cowards who would vote a fraud into office in exchange for handouts from the devil.
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