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The Illinois House easily approves a package of cherry-picked tax breaks aimed at keeping Sears...

The Illinois House easily approves a package of cherry-picked tax breaks aimed at keeping Sears (SHLD), CME and CBOE from leaving the state. The tax code would be revised for CME and CBOE so that just 27.54% of their electronic trades will be taxable in Illinois. The state's senate is expected to take up the bill tomorrow. (previous)
Comments (3)
  • HiSpeed
    , contributor
    Comments (1113) | Send Message
     
    The fact that the politically-favored receive tax-relief is clear proof that IL taxes are unrealistically too high so as to be economically-crippling to business.

     

    These companies should move to business-friendly states thereby sending a clear message to the IL legislature that their hostile policies are a path to ruin.
    12 Dec 2011, 07:48 PM Reply Like
  • User 509088
    , contributor
    Comments (1102) | Send Message
     
    excuse me, but your cart is before your horse, sir. this is a perfect example of how this crisis came to be- the corp wanted more tax breaks and were going to move if they didn't get it.

     

    instead of moving to teach profligate illinois a lesson, shld and cme performed a kind of political extortion, not an illegal one, in which they threatened to take tax income out of the jurisdiction.

     

    but, just like with terrorists, once you give something to one of these bums, they all gather to get some.
    13 Dec 2011, 04:13 AM Reply Like
  • User 509088
    , contributor
    Comments (1102) | Send Message
     
    it occurs that since corps are people, and since people can be legislated to work for the good of the state, perhaps something should be considered along the same line for these corporate people.
    13 Dec 2011, 04:28 AM Reply Like
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