NIU007
Legend
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RE: NIU and other state schools downgraded to junk bond status
(07-05-2017 10:15 AM)DogPoundNorth Wrote: (07-05-2017 10:13 AM)Dog Fan Wrote: (07-05-2017 10:06 AM)niu79 Wrote: Madigan keeps his 40 year winning streak alive.
32% tax increase and zero reforms to address the underlying issues that got us here in the first place. Just lovely.
Will now be interesting to see what happens with STF's master plan now that the state "budget" will no longer be an issue, or should we say excuse.
But now that people will be paying a lot more in income (and other) taxes, they will have even less to donate to the holy Master Plan.
Could be worse, you could live in lake county Indiana
Sorry, what is happening in Lake County Indiana? Must have missed that report.
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07-05-2017 10:20 AM |
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DogPoundNorth
Coach Carey Loves His Wife
Posts: 6,778
Joined: Jan 2014
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I Root For: NIU
Location: Chicago
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RE: NIU and other state schools downgraded to junk bond status
(07-05-2017 10:20 AM)NIU007 Wrote: (07-05-2017 10:15 AM)DogPoundNorth Wrote: (07-05-2017 10:13 AM)Dog Fan Wrote: (07-05-2017 10:06 AM)niu79 Wrote: Madigan keeps his 40 year winning streak alive.
32% tax increase and zero reforms to address the underlying issues that got us here in the first place. Just lovely.
Will now be interesting to see what happens with STF's master plan now that the state "budget" will no longer be an issue, or should we say excuse.
But now that people will be paying a lot more in income (and other) taxes, they will have even less to donate to the holy Master Plan.
Could be worse, you could live in lake county Indiana
Sorry, what is happening in Lake County Indiana? Must have missed that report.
Their income taxes are higher than Illinois even under the proposed hike. Illinois sucks, but could always be worse.
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07-05-2017 11:30 AM |
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Dog Fan
Hall of Famer
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RE: NIU and other state schools downgraded to junk bond status
(07-05-2017 11:30 AM)DogPoundNorth Wrote: (07-05-2017 10:20 AM)NIU007 Wrote: (07-05-2017 10:15 AM)DogPoundNorth Wrote: (07-05-2017 10:13 AM)Dog Fan Wrote: (07-05-2017 10:06 AM)niu79 Wrote: Madigan keeps his 40 year winning streak alive.
32% tax increase and zero reforms to address the underlying issues that got us here in the first place. Just lovely.
Will now be interesting to see what happens with STF's master plan now that the state "budget" will no longer be an issue, or should we say excuse.
But now that people will be paying a lot more in income (and other) taxes, they will have even less to donate to the holy Master Plan.
Could be worse, you could live in lake county Indiana
Sorry, what is happening in Lake County Indiana? Must have missed that report.
Their income taxes are higher than Illinois even under the proposed hike. Illinois sucks, but could always be worse.
My wife works in Indiana. We file dual state tax returns. For the Illinois return, we always have to pay more to make up the difference between the Indiana income tax and the higher Illinois tax.
We will be moving to Munster in Lake County after retirement. Can't wait to get the hell out of Illinois.
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07-05-2017 11:34 AM |
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Cowboy95
1st String
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RE: NIU and other state schools downgraded to junk bond status
(07-05-2017 11:34 AM)Dog Fan Wrote: (07-05-2017 11:30 AM)DogPoundNorth Wrote: (07-05-2017 10:20 AM)NIU007 Wrote: (07-05-2017 10:15 AM)DogPoundNorth Wrote: (07-05-2017 10:13 AM)Dog Fan Wrote: But now that people will be paying a lot more in income (and other) taxes, they will have even less to donate to the holy Master Plan.
Could be worse, you could live in lake county Indiana
Sorry, what is happening in Lake County Indiana? Must have missed that report.
Their income taxes are higher than Illinois even under the proposed hike. Illinois sucks, but could always be worse.
My wife works in Indiana. We file dual state tax returns. For the Illinois return, we always have to pay more to make up the difference between the Indiana income tax and the higher Illinois tax.
We will be moving to Munster in Lake County after retirement. Can't wait to get the hell out of Illinois.
Some counties in Indiana levy a local income tax, so it depends on where you live/work. Their state income tax is 3.3% compared to 3.75, now 4.95 in Illinois. So, no Indiana is not worse. Illinois is either the highest or second highest taxed state in the country, behind only New Jersey, depending on how you look at it ( depends on which taxes you take into consideration - income, property, sales, fuel, soda , entertainment, tolls, and on and on and on).
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07-05-2017 12:36 PM |
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klake87
Hall of Famer
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RE: NIU and other state schools downgraded to junk bond status
After the next election Madigan will raise taxes again. First got to get all of you to forget then hit you again. We don't have a balanced budget(required by law). No changes to pensions and benefits so deficit continues to climb
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07-05-2017 12:38 PM |
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NIU007
Legend
Posts: 34,271
Joined: Sep 2004
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I Root For: NIU, MAC
Location: Naperville, IL
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RE: NIU and other state schools downgraded to junk bond status
(07-05-2017 12:36 PM)Cowboy95 Wrote: (07-05-2017 11:34 AM)Dog Fan Wrote: (07-05-2017 11:30 AM)DogPoundNorth Wrote: (07-05-2017 10:20 AM)NIU007 Wrote: (07-05-2017 10:15 AM)DogPoundNorth Wrote: Could be worse, you could live in lake county Indiana
Sorry, what is happening in Lake County Indiana? Must have missed that report.
Their income taxes are higher than Illinois even under the proposed hike. Illinois sucks, but could always be worse.
My wife works in Indiana. We file dual state tax returns. For the Illinois return, we always have to pay more to make up the difference between the Indiana income tax and the higher Illinois tax.
We will be moving to Munster in Lake County after retirement. Can't wait to get the hell out of Illinois.
Some counties in Indiana levy a local income tax, so it depends on where you live/work. Their state income tax is 3.3% compared to 3.75, now 4.95 in Illinois. So, no Indiana is not worse. Illinois is either the highest or second highest taxed state in the country, behind only New Jersey, depending on how you look at it ( depends on which taxes you take into consideration - income, property, sales, fuel, soda , entertainment, tolls, and on and on and on).
Well, If Lake County has a local income tax then it could be worse.
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07-05-2017 02:15 PM |
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DogPoundNorth
Coach Carey Loves His Wife
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RE: NIU and other state schools downgraded to junk bond status
(07-05-2017 12:36 PM)Cowboy95 Wrote: (07-05-2017 11:34 AM)Dog Fan Wrote: (07-05-2017 11:30 AM)DogPoundNorth Wrote: (07-05-2017 10:20 AM)NIU007 Wrote: (07-05-2017 10:15 AM)DogPoundNorth Wrote: Could be worse, you could live in lake county Indiana
Sorry, what is happening in Lake County Indiana? Must have missed that report.
Their income taxes are higher than Illinois even under the proposed hike. Illinois sucks, but could always be worse.
My wife works in Indiana. We file dual state tax returns. For the Illinois return, we always have to pay more to make up the difference between the Indiana income tax and the higher Illinois tax.
We will be moving to Munster in Lake County after retirement. Can't wait to get the hell out of Illinois.
Some counties in Indiana levy a local income tax, so it depends on where you live/work. Their state income tax is 3.3% compared to 3.75, now 4.95 in Illinois. So, no Indiana is not worse. Illinois is either the highest or second highest taxed state in the country, behind only New Jersey, depending on how you look at it ( depends on which taxes you take into consideration - income, property, sales, fuel, soda , entertainment, tolls, and on and on and on).
Taking into consideration all taxes towards local and state governments, Illinois ranks 5th in the country behind Wisconsin, New Jersey, Connecticut, and New York. Having lived in New York I can tell you I'd take Illinois all day over that place. This is according to market watch, an obviously being in the top 5 sucks. Good thing I don't live in IL anymore.
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07-05-2017 02:16 PM |
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Dog Fan
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RE: NIU and other state schools downgraded to junk bond status
(07-05-2017 02:15 PM)NIU007 Wrote: (07-05-2017 12:36 PM)Cowboy95 Wrote: (07-05-2017 11:34 AM)Dog Fan Wrote: (07-05-2017 11:30 AM)DogPoundNorth Wrote: (07-05-2017 10:20 AM)NIU007 Wrote: Sorry, what is happening in Lake County Indiana? Must have missed that report.
Their income taxes are higher than Illinois even under the proposed hike. Illinois sucks, but could always be worse.
My wife works in Indiana. We file dual state tax returns. For the Illinois return, we always have to pay more to make up the difference between the Indiana income tax and the higher Illinois tax.
We will be moving to Munster in Lake County after retirement. Can't wait to get the hell out of Illinois.
Some counties in Indiana levy a local income tax, so it depends on where you live/work. Their state income tax is 3.3% compared to 3.75, now 4.95 in Illinois. So, no Indiana is not worse. Illinois is either the highest or second highest taxed state in the country, behind only New Jersey, depending on how you look at it ( depends on which taxes you take into consideration - income, property, sales, fuel, soda , entertainment, tolls, and on and on and on).
Well, If Lake County has a local income tax then it could be worse.
Lake County local income taxes are 1.5%. So the total tax on income is 4.8%, slightly less than the increased income taxes in Illinois. And, in Indiana, there are lower sales taxes, no Crook County gasoline taxes (gas is much cheaper in Indiana), no soda pop tax, no bottled water tax, no bag tax, etc. Oh, and the local tax was instituted with property tax relief.
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07-05-2017 02:26 PM |
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NIU007
Legend
Posts: 34,271
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I Root For: NIU, MAC
Location: Naperville, IL
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RE: NIU and other state schools downgraded to junk bond status
(07-05-2017 02:26 PM)Dog Fan Wrote: (07-05-2017 02:15 PM)NIU007 Wrote: (07-05-2017 12:36 PM)Cowboy95 Wrote: (07-05-2017 11:34 AM)Dog Fan Wrote: (07-05-2017 11:30 AM)DogPoundNorth Wrote: Their income taxes are higher than Illinois even under the proposed hike. Illinois sucks, but could always be worse.
My wife works in Indiana. We file dual state tax returns. For the Illinois return, we always have to pay more to make up the difference between the Indiana income tax and the higher Illinois tax.
We will be moving to Munster in Lake County after retirement. Can't wait to get the hell out of Illinois.
Some counties in Indiana levy a local income tax, so it depends on where you live/work. Their state income tax is 3.3% compared to 3.75, now 4.95 in Illinois. So, no Indiana is not worse. Illinois is either the highest or second highest taxed state in the country, behind only New Jersey, depending on how you look at it ( depends on which taxes you take into consideration - income, property, sales, fuel, soda , entertainment, tolls, and on and on and on).
Well, If Lake County has a local income tax then it could be worse.
Lake County local income taxes are 1.5%. So the total tax on income is 4.8%, slightly less than the increased income taxes in Illinois. And, in Indiana, there are lower sales taxes, no Crook County gasoline taxes (gas is much cheaper in Indiana), no soda pop tax, no bottled water tax, no bag tax, etc. Oh, and the local tax was instituted with property tax relief.
Are you just talking Cook county? Or Illinois in general?
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07-05-2017 04:17 PM |
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Dog Fan
Hall of Famer
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RE: NIU and other state schools downgraded to junk bond status
(07-05-2017 04:17 PM)NIU007 Wrote: (07-05-2017 02:26 PM)Dog Fan Wrote: (07-05-2017 02:15 PM)NIU007 Wrote: (07-05-2017 12:36 PM)Cowboy95 Wrote: (07-05-2017 11:34 AM)Dog Fan Wrote: My wife works in Indiana. We file dual state tax returns. For the Illinois return, we always have to pay more to make up the difference between the Indiana income tax and the higher Illinois tax.
We will be moving to Munster in Lake County after retirement. Can't wait to get the hell out of Illinois.
Some counties in Indiana levy a local income tax, so it depends on where you live/work. Their state income tax is 3.3% compared to 3.75, now 4.95 in Illinois. So, no Indiana is not worse. Illinois is either the highest or second highest taxed state in the country, behind only New Jersey, depending on how you look at it ( depends on which taxes you take into consideration - income, property, sales, fuel, soda , entertainment, tolls, and on and on and on).
Well, If Lake County has a local income tax then it could be worse.
Lake County local income taxes are 1.5%. So the total tax on income is 4.8%, slightly less than the increased income taxes in Illinois. And, in Indiana, there are lower sales taxes, no Crook County gasoline taxes (gas is much cheaper in Indiana), no soda pop tax, no bottled water tax, no bag tax, etc. Oh, and the local tax was instituted with property tax relief.
Are you just talking Cook county? Or Illinois in general?
Most of those nuisance taxes I mentioned are Cook County or just Chicago. But, sales taxes are lower in Indiana than Illinois, as is the price of gasoline (due to the higher taxes in Illinois).
One of my co-workers just moved from Chicago to Kenosha. She could not take the taxes and crime in the city. The extra commute time is worth it to her, and I agree.
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07-06-2017 07:30 AM |
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Dog Fan
Hall of Famer
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RE: NIU and other state schools downgraded to junk bond status
Although it's on the backs of the taxpayers, a budget was finally passed by the Springfield buffoons. Now, let's see how quickly the Master Plan is rolled out and begun.
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07-07-2017 08:41 AM |
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niu79
All American
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RE: NIU and other state schools downgraded to junk bond status
(07-07-2017 08:41 AM)Dog Fan Wrote: Although it's on the backs of the taxpayers, a budget was finally passed by the Springfield buffoons. Now, let's see how quickly the Master Plan is rolled out and begun.
Yep, we'll see what comes next. I'm sure the next delay will stem from hiring Baker's replacement, who will probably want 6 months to a year to review the plan. That is if of course if there really are donors willing to contribute.
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07-07-2017 10:38 AM |
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Max Power
Not Rod Carey
Posts: 10,059
Joined: Oct 2008
Reputation: 261
I Root For: NIU, Bradley
Location: Peoria
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RE: NIU and other state schools downgraded to junk bond status
Is Illinois a mess, yes, did we need to raise taxes, yes, does major pension reform need to happen, yes. Democrats and moderate Republicans came together to do something unpopular, really for Rauner's benefit. Now the state can go back to providing essential services -- good for Rauner -- and since it doesn't have his fingerprints on it he can blame his favorite bogeyman Madigan for the THIRTY TWO PERCENT TAX HIKE (ie, from 3.75 to 4.95, or a 1.20% real increase).
State taxes could definitely be higher.
Sales Taxes:
CA - 7.5
IN - 7
MS - 7
NJ - 7
RI - 7
TN - 7
MN - 6.875
NJ - 6.875
NV - 6.85
AR - 6.5
KS - 6.5
CT - 6.35
MA - 6.25
IL - 6.25
ETC.
http://www.salestaxinstitute.com/resources/rates
Income taxes AFTER yesterday's hike:
Iowa - 8.98%
Hawaii - 8.25%
Idaho - 7.4%
Arkansas - 6.9%
Delaware - 6.6%
Georgia - 6%
Kentucky - 6%
Massachusetts - 5.1%
Alabama - 5%
Illinois - 4.95%
Colorado - 4.63%
Kansas - 4.6%
ETC.
http://www.money-zine.com/financial-plan...tax-rates/
Property taxes are local -- they don't go to the state -- and therefore depend heavily on where you live, but the IL median is the highest in the nation at 2.67%.
The tax cut Rauner instituted in 2015 was irresponsible and at fault for the debt explosion -- tripling from $5 billion to $15 billion -- we have seen since then. Republicans like to crow about debt, fiscal responsibility and balancing budgets but they never let that get in the way of a good tax cut.
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07-07-2017 10:42 AM |
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thxjoenovak
Heisman
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RE: NIU and other state schools downgraded to junk bond status
Max....Keep drinking the Kool-Aid... ( don't think Cook County is taxing the Kool Aid powder...yet!)
MM and the dems love folks like you. I on the other hand like to keep the money I've earned so I can save or spend it on goods and services in Illinois.
Another 1.5% that'll get pissed away by them.
(This post was last modified: 07-07-2017 10:52 AM by thxjoenovak.)
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07-07-2017 10:52 AM |
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Dog Fan
Hall of Famer
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RE: NIU and other state schools downgraded to junk bond status
(07-07-2017 10:42 AM)Max Power Wrote: Is Illinois a mess, yes, did we need to raise taxes, yes, does major pension reform need to happen, yes. Democrats and moderate Republicans came together to do something unpopular, really for Rauner's benefit. Now the state can go back to providing essential services -- good for Rauner -- and since it doesn't have his fingerprints on it he can blame his favorite bogeyman Madigan for the THIRTY TWO PERCENT TAX HIKE (ie, from 3.75 to 4.95, or a 1.20% real increase).
State taxes could definitely be higher.
Sales Taxes:
CA - 7.5
IN - 7
MS - 7
NJ - 7
RI - 7
TN - 7
MN - 6.875
NJ - 6.875
NV - 6.85
AR - 6.5
KS - 6.5
CT - 6.35
MA - 6.25
IL - 6.25
ETC.
http://www.salestaxinstitute.com/resources/rates
Income taxes AFTER yesterday's hike:
Iowa - 8.98%
Hawaii - 8.25%
Idaho - 7.4%
Arkansas - 6.9%
Delaware - 6.6%
Georgia - 6%
Kentucky - 6%
Massachusetts - 5.1%
Alabama - 5%
Illinois - 4.95%
Colorado - 4.63%
Kansas - 4.6%
ETC.
http://www.money-zine.com/financial-plan...tax-rates/
Property taxes are local -- they don't go to the state -- and therefore depend heavily on where you live, but the IL median is the highest in the nation at 2.67%.
The tax cut Rauner instituted in 2015 was irresponsible and at fault for the debt explosion -- tripling from $5 billion to $15 billion -- we have seen since then. Republicans like to crow about debt, fiscal responsibility and balancing budgets but they never let that get in the way of a good tax cut.
Don't forget to add the county and city take to the sales tax. 10.25% in Chicago. Unfortunately, some of us in Chicago/Cook County do not have the means or opportunity to move to get that 6.25%.
District - Rate
Illinois State - 6.25%
Cook County - 2.75%
Chicago - 1.25%
Total = 10.25%
(This post was last modified: 07-07-2017 11:12 AM by Dog Fan.)
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07-07-2017 10:56 AM |
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Max Power
Not Rod Carey
Posts: 10,059
Joined: Oct 2008
Reputation: 261
I Root For: NIU, Bradley
Location: Peoria
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RE: NIU and other state schools downgraded to junk bond status
I live in Peoria where the overall sales tax is something like 9%, and property taxes are lower than the median. But it's easy for me to take advantage of lower sales taxes outside the city limits if I want. I am though mindful of people who can't easily leave high sales tax jurisdictions. Personally, I would reduce sales taxes and make the income tax progressive. Sales taxes hit the poor the hardest because they spend all of their paychecks. It's ridiculous we have a state flat tax while the federal government went progressive 100 years ago.
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07-07-2017 01:12 PM |
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huskie1stdown
Heisman
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RE: NIU and other state schools downgraded to junk bond status
Yeah, name me ONE place in this state you can pay 6.25%?
What a joke!!
Max must me a Union Democrat with a Pension.
Property Taxes for Schools is an idea other States have dumped but not Illinois.
Madigan is the biggest crook in the state.
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07-07-2017 01:13 PM |
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GeorgeBorkFan
All American
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RE: NIU and other state schools downgraded to junk bond status
(07-07-2017 10:42 AM)Max Power Wrote: The tax cut Rauner instituted in 2015 was irresponsible and at fault for the debt explosion -- tripling from $5 billion to $15 billion -- we have seen since then. Republicans like to crow about debt, fiscal responsibility and balancing budgets but they never let that get in the way of a good tax cut.
Factually false, 100%. Rauner "instituted" no such tax cut. His office holds no such power. In this case, the original tax increase was set to partially, not completely, roll back, as prescribed in the original statute. The Democratic legislature declined to send a bill to either Pat Quinn's desk or Rauner's desk, to keep the temporary tax rates in place. Therefore, they expired.
The explosion in debt was due to a lack of control on spending during a time when the Democratically controlled legislature failed to send a budget to the governor's desk.
And, since nothing was done about spending, taxes have been increased and nothing has been done about the structural issue of pension liability.
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07-07-2017 01:24 PM |
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JoeNovak
1st String
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Joined: Jan 2016
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I Root For: NIU
Location:
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RE: NIU and other state schools downgraded to junk bond status
(07-07-2017 10:42 AM)Max Power Wrote: Is Illinois a mess, yes, did we need to raise taxes, yes, does major pension reform need to happen, yes. Democrats and moderate Republicans came together to do something unpopular, really for Rauner's benefit. Now the state can go back to providing essential services -- good for Rauner -- and since it doesn't have his fingerprints on it he can blame his favorite bogeyman Madigan for the THIRTY TWO PERCENT TAX HIKE (ie, from 3.75 to 4.95, or a 1.20% real increase).
State taxes could definitely be higher.
Sales Taxes:
CA - 7.5
IN - 7
MS - 7
NJ - 7
RI - 7
TN - 7
MN - 6.875
NJ - 6.875
NV - 6.85
AR - 6.5
KS - 6.5
CT - 6.35
MA - 6.25
IL - 6.25
ETC.
http://www.salestaxinstitute.com/resources/rates
Income taxes AFTER yesterday's hike:
Iowa - 8.98%
Hawaii - 8.25%
Idaho - 7.4%
Arkansas - 6.9%
Delaware - 6.6%
Georgia - 6%
Kentucky - 6%
Massachusetts - 5.1%
Alabama - 5%
Illinois - 4.95%
Colorado - 4.63%
Kansas - 4.6%
ETC.
http://www.money-zine.com/financial-plan...tax-rates/
Property taxes are local -- they don't go to the state -- and therefore depend heavily on where you live, but the IL median is the highest in the nation at 2.67%.
The tax cut Rauner instituted in 2015 was irresponsible and at fault for the debt explosion -- tripling from $5 billion to $15 billion -- we have seen since then. Republicans like to crow about debt, fiscal responsibility and balancing budgets but they never let that get in the way of a good tax cut.
is that you Madigan?!?!? We ALL know who is at fault for the demise of our state. I will give you a guess....he is currently the speaker of the house
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07-07-2017 01:29 PM |
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Max Power
Not Rod Carey
Posts: 10,059
Joined: Oct 2008
Reputation: 261
I Root For: NIU, Bradley
Location: Peoria
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RE: NIU and other state schools downgraded to junk bond status
(07-07-2017 01:13 PM)huskie1stdown Wrote: Yeah, name me ONE place in this state you can pay 6.25%?
What a joke!!
Max must me a Union Democrat with a Pension.
Property Taxes for Schools is an idea other States have dumped but not Illinois.
Madigan is the biggest crook in the state.
http://www.sale-tax.com/Illinois_all
Addieville, IL
Adeline, IL
Adrian, IL
Albers, IL
ETC
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07-07-2017 01:33 PM |
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