How to End Capital Flight for Me but not for Thee: Illinois
Center for the Study of Economics - Company Message
RSS Follow Become a Fan

Delivered by FeedBurner

Recent Posts

LVT in Los Angeles? Op-Ed says go for it.
Welcome to the Zany World of NYC's Property Tax
Land Value Taxation in Jamaica: Now More Than Ever
Part 1, Land Value Taxation: Politics, Persuasion, and Practicality - A How-To
2016: Another Year of Advances and Retrenchment

Most Popular Posts

Noted UK Think Tank: Tax Land Values
Eliminating the property tax? It must not happen, but we’ll see what happens.
Altoona, PA: City tax wholly on land values = normality
Land Value Tax in Britain: Progress While the Rear Guard Digs In
Dr. Herbert Barry's Proposal to Really Reassess Allegheny County


Act 47
Affordable Housing
Agricultural Policy
Allegheny County
Australian Capital Territory
Connecticut General Assembly
Current News Item
de Blasio
Economic Development
Economic Policy
Economic Rent
Ed Vargas
Federal Tax Policy
Fiscal Policy and Taxes
Free Markets
George Osborne
Global Taxation
Healthy Communities
Housing Policy
Hurricane Sandy
Jeffrey Berger
Jimmy Tayoun
Justin Skariah
Kenyatta Johnson
Land Policy
Land Value Tax
Larry Deutsch
Law and the Constitution
Len Fasano
Liberal Democrats
Local Government
Los Angeles
Maria Quinones-Sanchez
Martin Looney
Matt Ritter
Matthew Ritter
Mayor Rick Gray
Michael Kinsley
Model Legislation
Monroe County
National Tax Policy
New Jersey
New London
New York City
Parking and Transportation
Patricia Dillon
Property Assessment
Property Tax Reform
Public Health
Public Opinion
Public Resources
Public Works
Regional Tax Base Sharing
Rhode Island
Roland Lemar
Sales Taxes
Senator Jan Malik
Sin Taxes
Smart Growth
Soda Tax
Tax Exemption and Abatment
Thomas Piketty
Tom Kramer
Transportation Funding
Transportation Policy
United Kingdom
Urban Blight
Urban Rejuvenation
Urban Tax Policy
Vince Cable
Wage and Income Taxes
Wilson Goode Jr.
powered by

Incentive Taxation

How to End Capital Flight for Me but not for Thee: Illinois

Motorola going Mobile? Not on my watch.

There are very few states where of New Jersey would feel bullish enough to try and poach a business from a high tax climate. Yet, Illinois has made the grade, thanks to an increase in income and corporate tax that roughly doubled at the beginning of 2011. Governor Pat Quinn actually went onto the floor of the Illinois Legislature when the measure passed to thank the Sens. and Reps.

Unintended Consequences? 
The confidence of neighboring states took a hit, though, when the larger corporate entities, such as Sears, the Chicago Mercantile Exhchange and Caterpillar, sensibly started exploring cheaper places to do business.  Naturally, they announced this with press releases.  Naturally, the state of Illinois panicked, and reversed course, but ONLY for these big corporations and lower-income families (although it's a tax credit, relying on the hoary old gamble that most eligible won't file for it). Here's the bill, if you can get through it.

The Bag Holders

The catch of course, is that small to medium sized businesses still pay the higher rates. The hardware store, the feed store, the shoe store, etc. can't flee their customer base. They certainly don't have a voice in government to get a sweetheart tax deal, as do their middle-class customers.

Also suffering, as they have been for years, are the towns and school districts who need money to keep operating,but watch helplessly as the state government allows for-profit entities to not pay taxes.

Everyone owes a share of taxes. Everyone.  Yet, in the spirit of bipartisan fiascoes, Illinois demonstrates the folly of state privilege that makes the many pay for the few.

10 Comments to How to End Capital Flight for Me but not for Thee: Illinois:

Comments RSS
Anonyms on Thursday, July 05, 2018 7:42 AM
Thanks for Post.
Reply to comment on Tuesday, July 17, 2018 7:48 AM
Working as a writer in my company, your blog always provides me with some of the most useful information for my essays and articles. Keep up the good work.
Reply to comment

Rooibos Tea on Saturday, August 25, 2018 3:34 PM
New site is solid. A debt of gratitude is in order for the colossal exertion.
Reply to comment

Raisins on Saturday, August 25, 2018 3:39 PM
It is extremely nice to see the greatest details presented in an easy and understanding manner.
Reply to comment

Kiwano on Saturday, August 25, 2018 3:41 PM
I must admit that your post is really interesting. I have spent a lot of my spare time reading your content. Thank you a lot!
Reply to comment

Head Lice on Saturday, August 25, 2018 3:43 PM
This is my first time i visit here. I found so many entertaining stuff in your blog, especially its discussion. From the tons of comments on your articles, I guess I am not the only one having all the leisure here! Keep up the good work. I have been meaning to write something like this on my website and you have given me an idea.
Reply to comment

Burn Fat on Saturday, August 25, 2018 3:45 PM
Thanks for your post. I’ve been thinking about writing a very comparable post over the last couple of weeks, I’ll probably keep it short and sweet and link to this instead if thats cool. Thanks.
Reply to comment

Detox Water on Sunday, August 26, 2018 2:08 AM
Wonderful blog post. This is absolute magic from you! I have never seen a more wonderful post than this one. You've really made my day today with this. I hope you keep this up!
Reply to comment

Copper on Sunday, August 26, 2018 2:32 AM
I was just browsing through the internet looking for some information and came across your blog. I am impressed by the information that you have on this blog. It shows how well you understand this subject. Bookmarked this page, will come back for more.
Reply to comment

Lycopene on Sunday, August 26, 2018 4:07 AM
Thanks for the nice blog. It was very useful for me. I'm happy I found this blog. Thank you for sharing with us,I too always learn something new from your post.
Reply to comment

Add a Comment

Your Name:
Email Address: (Required)
Make your text bigger, bold, italic and more with HTML tags. We'll show you how.
Post Comment