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The [Wednesday] Papers

"The passage of an ambitious Illinois Senate 'grand bargain' package of bills hit a speed bump on Tuesday as Senate leaders opted to take in further input - while also adding new taxes to a revenue bill, including an excise tax on services and a tax on employers based on payroll," the Sun-Times reports.

"The additions show there are still plenty of changes that may be made to the evolving package of 13 bills before it hits the floor."

Here's my favorite part of the package, as currently constituted:

"The revenue bill includes a bump from the personal income tax from 3.75 percent to 4.99 percent."

4.99 percent? Do fries come with that? Can someone calculate how much revenue would be lost by not biting the bullet and going up to five?

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"The bill also includes an increase in the corporate income tax from 5.25 percent to 7 percent - estimated to generate $577 million annually. It also eliminates three corporate tax loopholes, which could generate $145 million a year, according to a Senate analysis."

Okay, sounds good.

"New additions include a 'business opportunity tax' ranging from an annual fee of $225, to $15,000 based on payroll. That is estimated to generate $750 million annually."

It's also expected to generate $750 million in mockery and campaign attacks for having such a bad name, so it's a win-win.

In reality, this is basically a head tax like the kind the city used to have.

Under the plan, the rest of the body is getting taxed too:

"A new tax on services - including dry cleaning and laundry, storage of cars, boats and property, landscaping, repair and maintenance of personal property, such as cars, and amusement services - could bring in $413 million. That tax also includes an extension of an excise tax on cable and satellite services."

And what about the governor's Turnaround Agenda? The Bears are working on that, having opened a front in the war against workers' comp. From the Tribune:

"[A]n idea backed by the Chicago Bears [is] aimed at cutting the amount of pay they have to dole out for injured players. Current law means they often have to cover injuries until a player is 67; they want that lowered to 35, contending most healthy players don't play much longer than that."

They may not play longer than that, but their injuries tend to last forever.

Then again, if the team pledges to use the money it saves on a real president of football operations, I'm in.

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Speaking of the governor, he gives his third State of the State address today. I can't help but think of the State of the State address the governor in my home state just gave, collapse and cancer notwithstanding:

How did he do it? It turns out taxing the rich and investing in education and social services creates an environment that is attractive for doing business because of the stability and skill of the workforce.

"In 2014, Dayton became the first governor in 20 years to win more than 50 percent of the vote. His 59 percent approval rating is 13th-highest among American governors," City Pages reports in "Remember, Legislators: Mark Dayton's More Popular Than All Of You Put Together."

"Minnesotans have their reasons. Roughly 1.4 billion of them: the state's budget surplus, a $6 billion turnaround from when he took office. Dayton arrived at it by taxing the wealthiest, smokers, and corporations. Dayton wants to spend it on childcare, early learning, tax cuts for families, broadband internet for rural people, jobs and education programs for minorities."

Now, it's true that both houses of the Minnesota legislature are now controlled by Republicans with a much different agenda than the governor there. Outside of the Twin Cities lies Trump Country, just like in many other states.

But the evidence is in on what really works; see "How Minnesota's Governor Performed An Economic Miracle By Raising Tax On The Rich And Increasing Minimum Wage."

That, my friends, is a Turnaround Agenda.

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Make The Air Fair
Tits, balls and net neutrality.

See also: FCC Chairperson Nominee Is Bad News For Musicians.

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Russia Walks Back Doping Admission
Thanks, Trump.

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BeachBook

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TweetWood
A sampling.

And if that doesn't work, he'll send in the Reds!

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What do you say if your boss demands you report lies?

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UPDATE: Robby Mook and Corey Lewandowski: A Bromance That Was Not to Be.

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The Beachwood Tronc Line: Stately.



Permalink

Posted on January 25, 2017


MUSIC - The BeachFest 2017 Playlist.
TV - FCC To Screw Rural America.
POLITICS - GOP Apostate: Why I'm Not A Democrat.
SPORTS - World Cup Concussion Fail.

BOOKS - Textbooks In The Digital World.

PEOPLE PLACES & THINGS - South Side Teens At Film Festival.


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