Sunday, March 11, 2007

THE GROTESQUE RECEIPTS TAX: GOVERNOR FLIPS A BOOGER AT THE PEOPLE WHO MAKE ILLINOIS BUSINESS GO

This is terminally stupid. A global tax only works when it's global. Doesn't work when people can move to another state, one which isn't afraid to tax net income instead of arbitrarily taxing grossing in non-comparable industries.

I know a guy who manufactures a tiny little product, which becomes a part on another product. His markup, and he's a very thorough cost calculator, is .5%. Fortunately for him, his business is in another state. He creates about 160 jobs in a poverty stricken, rural area. He doesn't need to work or to run a business. If his state started up such a foolish assessment, he'd just close or sell out to an overseas interest which would move the jobs to the Far East. How many of him are there in Illinois? Plenty, I'd guess.

The premise for this whole exercise is false. There is no choice between "The big corporations and the people". When a corporation is assessed a tax or fee, it passes it on to customers. Whether it's lawn mowers or medical equipment, the folks who pay for it are......drum roll......PEOPLE!

Do we need to change our entire approach to taxation in Illinois, from top to bottom. Of course. Is a Gross Receipts Tax any kind of answer? Hell, no.

Even the GOP knee jerk response is right once in awhile. This is one of those times.

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12 Comments:

At 4:49 PM, March 11, 2007, Anonymous Anonymous said...

Friday a group of us "meanie business guys" met , while controlling the world was on the agenda , the BLAGGO "WTF" tax was spoken about.


Even the GOP & normal Dems did a collective "did he just say that"

It is a first that Mike M & Tommy Cross agree that this "plan" is bad for us all.


Emil Jones as normal is for it though ..........please get him to stop smoking crack with DC's ex mayor or Bobby Brown .

 
At 4:51 PM, March 11, 2007, Anonymous Anonymous said...

Can we for historical reasons post

"Blaggo's a dumbass" on the cave wall ?


I think even in 2000 years people will agree.

 
At 8:44 PM, March 11, 2007, Blogger UMRBlog said...

I shall laugh and resist any further comment

 
At 9:17 AM, March 12, 2007, Anonymous Anonymous said...

I thought that last one would crack a smile ! Look at Cap'l Fax and the ADD that is being run by Blaggo .


"Tax fairness plan"

 
At 11:02 AM, March 12, 2007, Blogger UMRBlog said...

The only thing scarier than a "Tax Fairness Act" is a "Tax Simplification Act". I guess this qualifies as both because it says it's "fairness" and it's also simpleminded.

TYFCB

 
At 11:11 AM, March 12, 2007, Anonymous Anonymous said...

UMR Please zip over to MOO2 blog - AG Rud. What do you think about the privilege and violence culture? Anxious to hear your thoughts.

 
At 12:45 PM, March 12, 2007, Blogger UMRBlog said...

Day Job.

Will look tonight.

ABC

 
At 12:52 PM, March 12, 2007, Anonymous Anonymous said...

How does everyone do NCAA Basketball picks at work ?

We do it in a very good and fun way . We take all teams and pick split them all by seed and do a random draw .

Everyone gets a shot at a 1 or 2 and so on !

I got NC , Wa-Zu, ND, The mormans,Vill, VCU (whoever they are) , New Mexico State , and the POWER HOUSE of BELMONT !


But a $10 pay in by 8 people and the winner BUYS lunch for those 8 .


Not a bad way to enjoy March Madness

 
At 1:56 PM, March 12, 2007, Blogger Joe "Truth 101" Kelly said...

Umr: you beat me to the subject. Thanks for making me look like a late arriving "dumbass." Sorry Brother. THE ORACLE couldn't resist. Good speak...

 
At 6:13 PM, March 12, 2007, Anonymous Anonymous said...

Thanks UMR - Should you be letting your day job interfere with blogging.?

 
At 6:51 PM, March 12, 2007, Blogger UMRBlog said...

1252,

UNC's lost too much blood.

VCU is pretty good.

 
At 9:30 PM, March 12, 2007, Anonymous Anonymous said...

Never ever leave out the POWERHOUSE of

BELMONT


hahaha

I actually love those 15-16 seeds ! Bel-Mont lets go BEL-Mont in the show !

 

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