sarcasticgirl
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Location: Chicago
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Post by sarcasticgirl on Jan 13, 2011 12:00:18 GMT -5
yes it's always fun when the bottom half of your receipt is a list of all the taxes. my favorite is the 12.75% on bottled beverage. DH likes his soda and it makes me cringe to have to pay that! |
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Bob Ross
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Post by Bob Ross on Jan 13, 2011 14:28:35 GMT -5
I work in IL but live in MO.
For me, this increase is a wash, because it brings IL taxes up to what I pay to MO, so it'll mean a lower paycheck, but also no large check to send off to MO to make up the difference come tax time. Kinda wondering if this will cause many folks to move to the other side of the river now. MO has lower taxes / prices for a lot of other things.
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Wisconsin Beth
Distinguished Associate
No, we don't walk away. But when we're holding on to something precious, we run.
Joined: Dec 20, 2010 11:59:36 GMT -5
Posts: 30,626 
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Post by Wisconsin Beth on Jan 13, 2011 14:51:54 GMT -5
I thought of that too Tbird, when I first read it.
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Post by BeenThere...DoneThat... on Jan 13, 2011 14:59:41 GMT -5
...tsk, tsk... await the evidence before making THAT claim...  |
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domeasingold
Established Member
Joined: Apr 12, 2011 16:45:41 GMT -5
Posts: 255
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Post by domeasingold on Jan 13, 2011 15:25:50 GMT -5
<<< Do you know what quality of life you would be leaving for? >>> ...come on in... the water's warm...  Where? I'm not sure that lower tax rate= warmer water.  |
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Post by BeenThere...DoneThat... on Jan 13, 2011 15:39:02 GMT -5
...lower tax rate =/= warmer water... true... but my response really was proverbial... in my experience, my quality of life has more to do with what I do with my life and less to do with what the state does to my paycheck... granted, I've only lived in 5 of the 50 states... but that's still 10%... and the other 20 or so that I've visited haven't changed my view... so I figure that I don't need to stay in one state thinking it is the only one to house any "quality" for me...  |
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Post by kristi28 on Jan 13, 2011 15:50:40 GMT -5
I work in IL but live in MO. For me, this increase is a wash, because it brings IL taxes up to what I pay to MO, so it'll mean a lower paycheck, but also no large check to send off to MO to make up the difference come tax time. Kinda wondering if this will cause many folks to move to the other side of the river now. MO has lower taxes / prices for a lot of other things. How much do you actually pay in MO (I live here, too)? I know that nominally it is 6%, but after they let you take off federal tax paid, ss/medicare paid, and the first part which is taxed at a lower rate, we only end up paying about 3.5-4% to MO. At least back when I lived there, IL was 3% of approximately AGI. Is it different now? |
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Urban Chicago
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Post by Urban Chicago on Jan 13, 2011 16:08:52 GMT -5
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domeasingold
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Joined: Apr 12, 2011 16:45:41 GMT -5
Posts: 255
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Post by domeasingold on Jan 13, 2011 19:41:43 GMT -5
...lower tax rate =/= warmer water... true... but my response really was proverbial... in my experience, my quality of life has more to do with what I do with my life and less to do with what the state does to my paycheck... granted, I've only lived in 5 of the 50 states... but that's still 10%... and the other 20 or so that I've visited haven't changed my view... so I figure that I don't need to stay in one state thinking it is the only one to house any "quality" for me... I agree. Tax rate has nothing to do with it. Heck, If I really wanted better quality of life and warm water regardless of cost and government I would move to Hawaii! |
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jkapp
Junior Associate
Joined: Dec 23, 2010 12:05:08 GMT -5
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Post by jkapp on Jan 13, 2011 20:30:45 GMT -5
>>Democrats countered that even with the increase, Illinois' tax rate will be lower than in many neighboring states — Iowa's top rate is 8.98 percent, Wisconsin's is 7.75 percent. They also maintain that without more money, state government may not be able to pay employees by the end of the year.<< And IL's sales tax STARTS ate 6.25% and can peak near 10%...while Iowa is a flat 6% and Wisconsin's highest rate is 5.6%. Property taxes in Illinois can be twice as much as areas of Wisconsin, and Wisconsin's property taxes are outrageous! I notice how the article didn't mention the differences in those taxes... |
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jkapp
Junior Associate
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Post by jkapp on Jan 13, 2011 20:35:55 GMT -5
>>Do you all miss Tommy Thompson? He was governor when I lived in WI << I didn't care that much for Tommy Thompson until Jim Doyle came around...now I wish Thompson had never left |
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Wisconsin Beth
Distinguished Associate
No, we don't walk away. But when we're holding on to something precious, we run.
Joined: Dec 20, 2010 11:59:36 GMT -5
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Post by Wisconsin Beth on Jan 14, 2011 9:50:09 GMT -5
And IL's sales tax STARTS ate 6.25% and can peak near 10%...while Iowa is a flat 6% and Wisconsin's highest rate is 5.6%. . The Milwaukee County Board is asking for a 1% sales tax increase but I think the state legislature has to approve it first. There's a 0.5% Stadium sales tax that has a deadline but it keeps getting pushed back as repayment of the Stadium keeps getting refi'd or something. |
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Post by readsalot on Jan 14, 2011 10:28:52 GMT -5
Hi, new here but just wanted to say we live in IL, about 2 hours away from Cook County. Gas prices here are ridiculous too, about $3.15 a gallon yesterday for regular. I do have to say we get fantastic deals at Kroger and other stores, to take a little bit of the sting out of taxes. SO glad we are already frugal!
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sarcasticgirl
Junior Associate
Joined: Jan 4, 2011 14:39:51 GMT -5
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Location: Chicago
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Post by sarcasticgirl on Jan 14, 2011 10:41:55 GMT -5
You can bet IL wont' be raising anytime soon.....and anywhere you go - they can change the rules at any moment. WGN says that when the tax hike is signed, it will be retroactive to 01/01/2011... so even if it doesn't happen anytime soon, they'll be taking a chunk out when it does happen to cover the entire year |
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Post by stillontheroad on Jan 18, 2011 16:52:27 GMT -5
My first thought upon hearing about IL's income tax increase is "I'm glad I don't live there anymore." My second thought was "wait a minute...I'm already paying more than 5% in state income tax to Wisconsin. Crap." I'm pretty sure that even with the increase, my state income tax bill would be lower in IL. Sales tax would be higher, true.
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Post by jarhead1976 on Jan 18, 2011 17:01:18 GMT -5
Use your 2% Social Security deduction, it might help offset the raise in state tax .. It amazes me to see money taken from one bankrupt system and put into another ... bankrupt system.
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