January 31, 2011
Chris Christie v. Pat QuinnFollowing up on my recent posts (links below) on the gigantic individual (67%) and business (45%) income tax hikes recently approved in Illinois: New Jersey Governor Chris Christie is running this ad soliciting Illinois businesses to move to his state:
Illinois Governor Pat Quinn is not pleased:
- Indiana and Wisconsin Court Illinois Businesses Fleeing 66% Individual and 46% Business Tax Hikes (Jan. 13, 2011)
- Illinois Corporate Tax Hike Inches U.S. Closer to #1 Global Tax Ranking (Jan. 16, 2011)
- Illinois Tax Hikes Claim First Victim: Jimmy John's to Leave State (Jan. 21, 2011)
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Gov Quinn is mistaken in that when Gov. Christie cancelled a tunnel project, he did not pay back about $300 million to the Federal Government. Like the pension contribution, he just decided not to make the payment.
In New Jersey they deal with debts the old fashioned way, they just don't pay them.
Posted by: Sid (real one) | Jan 31, 2011 8:26:06 AM
Aren't both state's highly unionized? I just don't see either as being particularly pro-business. Illinois businesses should really move to the south -- Florida or Texas.
Posted by: anon | Jan 31, 2011 10:34:02 AM
Regarding Quinn's rebuttal, I don't think that businesses are terribly concerned about a state not paying overbloated union employee pensions promised by former politicians who knew that there was no way to pay them, having to fire teachers when the teacher's union refused to make any concessions so that those jobs could be saved, or cancelling a massive and overbudget project before it began costing billions that would have to be made up from higher taxes.
Businesses want to make money for its investors, and they have little interest in staying in a state that raises taxes to support unions and waste. Quinn loses that debate.
Posted by: Woody | Jan 31, 2011 11:21:45 AM