Wednesday, February 07, 2007

The Cart Before the Horse: IL Receipts Tax Coming?

What is a receipts tax? Well, instead of (or in addition to) taxing the income of a company, they'd just tax the gross receipts of the company. What's the difference? If you already know, move on to the next paragraph. If you don't... The difference is that you'd be getting taxed on every dollar you take in as a business, regardless of whether or not you're actually making any money at all.

Of course it's terrible. Of course it's wrong. What else would you expect from Blago?

But here's what's really wrong. It's what's wrong with IL and most states, along with the federal gov. They've got the cart before the horse. They sit down and think of all the things they want to spend money on. Then they try to figure out how they can steal enough of your money get enough to cover their expenses. Sometimes (most of the time in the case of the feds) they just spend away, regardless of whether or not they expect to take enough money in.

When I want a new car, I don't go to my employer and tell him to give me a raise.

Blago wants healthcare for everybody. When the Lizard Queen is elected, we'll all get it. More accurately, none of us will get quality care.

Oh well... One step closer to the end times.


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