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Thread: Illinois

  1. #1
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    Exclamation Illinois

    What do you guys think can be done to save the state? The state spends twice as much money as it takes in and the state has constantly refused to cut spending over the years (because they're corrupt politicians who didn't mind selling the future). I find it hard to believe that anyone would give a loan to this state in probably the most dire times for any state in the history of this country.

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    Is THIS why it's going to cost me nearly $200 to register my car and get plates for it here?


    Also, how are they losing so much money when we seem to pay so much more in gas taxes?
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    Not a whole lot. And that's why I'll be moving away from here in all likelihood (sadly) when I finish schooling.


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    It's a real shame too. Illinois is probably the most economically and socially diverse state in the country, with more than enough commercial/industrial/agricultural assets to balance a budget. If the state government weren't so irresponsible and hostile, Illinois would have probably had the best integrity to withstand difficult economic times.

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    I read that they are planning to raise the state income tax from 3% to 5.8%. The governor said he will veto anything above a 1% increase though.

    I don't have the article but it was from the Atlantic I believe.
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    Quote Originally Posted by TunTavern View Post
    What do you guys think can be done to save the state? The state spends twice as much money as it takes in and the state has constantly refused to cut spending over the years (because they're corrupt politicians who didn't mind selling the future). I find it hard to believe that anyone would give a loan to this state in probably the most dire times for any state in the history of this country.
    Claim bankruptcy and legalize and tax marijuana to pay for its debts.....oh wait, that's California.

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    Quote Originally Posted by dbroncos78087 View Post
    I read that they are planning to raise the state income tax from 3% to 5.8%. The governor said he will veto anything above a 1% increase though.

    I don't have the article but it was from the Atlantic I believe.
    I don't understand why anyone would think that would solve the problems they are having.

    Like, even if I were die-hard statist dedicated to preserving my system of human farming, I would realize at some point that these plans are simply not sustainable.

    Quote Originally Posted by GGGGG-Men View Post
    Claim bankruptcy and legalize and tax marijuana to pay for its debts.....oh wait, that's California.
    I mean, that does seem like an appealing option, except that I doubt the same people who go to great length to avoid men with guns would bend over for men with fountain pens with the threat of guns.

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    I don't necessarily think it is the right move but that is how they want to fix it. You can either lower spending or raise taxes. However, in the long term to actually pay debt will likely require higher taxes in some cases. At some point cutting spending won't pay the bills.
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    Quote Originally Posted by dbroncos78087 View Post
    I don't necessarily think it is the right move but that is how they want to fix it. You can either lower spending or raise taxes. However, in the long term to actually pay debt will likely require higher taxes in some cases. At some point cutting spending won't pay the bills.
    But they're not at "some point" yet. They went drunk on spending for decades to their current point, which, if I may remind you, is twice as much as their tax revenue. I think it is unbelievable that they still are not even considering cutting spending (well, understandable, because politicians hate turning on their parasites and nobody wants to risk losing support for office). Instead, they want to raise income taxes even more in a state that already has very high taxes and is more hostile to business than others. In the long run, raising taxes any more than they already are will further destroy productivity in the state.

    If, say, New Hampshire ran into a spending problem, then sure, one may say that a reasonable remedy to balance the state's coffers would be to implement a state income tax (they have none). But we're talking about Illinois!

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    You can cut the spending to virtually nothing but deficit will still be there and won't be paid off by cutting taxes. This is why politics doesn't work.

    Democrats ignore cutting spending to meet government's commitments.
    Republicans ignore taxes to meet government's commitments.

    Just cutting spending and leaving taxes won't pay the bills. I don't think taxes should be raised because "rich people don't deserve their money". I advocated letting the highest brackets expire because our debt needs to be paid down.

    Limiting future spending is obviously part of the solution but to assume only cutting spending and no other change in fiscal policy will fix all that ails us will surely lead to failure.
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    The same thing I think every state should do.

    Be more like Texas.

    Adopt more free market libertarian-esque principals, and abandon the left-wing economic model.

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    Quote Originally Posted by gcoll View Post
    The same thing I think every state should do.

    Be more like Texas.

    Adopt more free market libertarian-esque principals, and abandon the left-wing economic model.
    Why does Texas become some paradise despite ignoring their $25B deficit?
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    Quote Originally Posted by dbroncos78087 View Post
    Why does Texas become some paradise despite ignoring their $25B deficit?
    Because they are the only ones that sometimes enact libertarian-esque legislation.

    And I think the current deficit can be mostly attributed to the recession, right? Didn't they just have a surplus like 2 years ago?
    Last edited by gcoll; 01-10-2011 at 09:15 PM.

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    Quote Originally Posted by gcoll View Post
    Because they are the only ones that sometimes enact libertarian-esque legislation.

    And I think the current deficit can be mostly attributed to the recession, right? Didn't they just have a surplus like 2 years ago?
    I don't think so, but more to the point, they don't now. Frankly, I cannot think of an example where honest to goodness libertarian-esque, to steal a term, governments have succeeded (or failed) in the modern world. I am not saying they don't exist, I am just looking for the successful model. Do you know one?
    Here is the question of the day, does anyone think that wealthy people should pay a lower percentage of their income to taxes than middle class people? Don't argue tax brackets, just a simple question. Do you think someone earning 46 million dollars should pay a lower percentage of their income than say someone earning sixty thousand?

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    Quote Originally Posted by cabernetluver View Post
    I don't think so, but more to the point, they don't now. Frankly, I cannot think of an example where honest to goodness libertarian-esque, to steal a term, governments have succeeded (or failed) in the modern world. I am not saying they don't exist, I am just looking for the successful model. Do you know one?
    No. People like to tout Hong Kong, and some of the "Asian tigers" as good models, but they're not purely libertarian. Hong Kong has been #1 in the WSJ/Heritage Foundation index of economic freedom for quite a while.

    But, in a lot of the more capitalistic type markets, you'll find national health care quite a bit.

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