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In Reply to: RE: Another great company sells out to the Chinese posted by Inmate51 on October 24, 2014 at 06:53:30
Hi
Due to the states huge union pension deficit of more than 100 billion dollars which triggered the last large tax increase, Illinois has become one of the least friendly states towards business and that increase drove many companies out of the state to Wisconsin and Indiana where the climate is more favorable.
With the next tax increase scheduled for right after the election and no possibility of dealing with the outrageous pensions promises, things will not be getting better so far as business and employment.
The problem is in the cost of doing business here, even though the Chinese have to import & ship raw materials from other countries and then manufacture the product, then export it here and pay tariffs, taxes and shipping here, it is still much cheaper to do that than building here.
http://politics.suntimes.com/article/springfield/illinois-pension-debt-rate-nation%E2%80%99s-worst-moodys-report-says/sat-09062014-848pm
Follow Ups:
I hear ya. I know people in Illinois who say the same thing. One of them came right out and said this, more than FIVE years ago: "The State of Illinois is broke."
So, Dynaudio: Come to Texas! Build a manufacturing facility here! (Or, in China, which is now the world's largest economy, and growing. There's probably a bigger market there than here for Dynaudio speakers.)
:)
Is it Kansas that is doing so well Mr. Laffer, eugh sorry, Mr. tomservo?
"raise property taxes or cut services"
Typical government scare tactic.
They never seem to figure out how to trim their fat, i.e., excessively large workforce, unnecessary spending, extravagant benefits, etc.
This is getting too political, but what with your beliefs and the moderators here you are safe.
Not really. Someone made a comment about the cost of doing business and manufacturing in the U.S. While there is clearly a political aspect to taxes, government at all levels and of both Parties are guilty of using scare tactics to whip the townsfolk into submission. It's virtually political-neutral.:)
Edits: 10/24/14
Are you the inventor of the Political Pretzel Sound Bite?
...and not the "spin" of some rather prominent TV news stations...
Cheers,
Dman
Analog Junkie
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