http://www.prnewswire.com/news-releases/…
Misguided Effort Will Drive Thriving Internet Businesses to Nearby States
CHICAGO, March 10, 2011 /PRNewswire/ — Illinois Gov. Pat Quinn today signed the so-called Internet tax bill (HB 3659), which requires out-of-state merchants who advertise on websites based in Illinois to collect taxes from all Illinois customers.
The new tax law relates to out-of-state merchants like Amazon.com and Overstock.com that do not have a physical presence in Illinois but have relationships with Illinois advertisers and publishers like CouponCabin.com. Under the provisions of the new law, these merchants are deemed to have a presence (nexus) in Illinois and are therefore required to collect Illinois sales tax.
In response to the Governor’s approval of HB 3659, Scott Kluth, CEO of CouponCabin.com, issued the following statement:
“The Governor’s approval of HB 3659 is deeply disappointing. As a result, Illinois will lose jobs, many thriving businesses like CouponCabin and other affiliate marketing firms will be forced to move to other states, and most important, this law will not generate the tax revenue Illinois thinks it will collect.
Categorized | Featured Articles
Liberals Want To Tax The Rich…what Happens When The Rich And Business Just Leave Their State?
Posted on March 12, 2011.
When the producing class is gone, liberals will have the third-world hell-hole all of them WANT.
Seriously, what third-world crap-pile do liberals NOT demand we emulate?
That two percent increase isn’t going to cause anyone to move that wasn’t already planning to.
The costs of redoing the stationery with the new address would be more than the cost of the tax.
In fact, collecting taxes from sales in Illinois isn’t the same as charging a company anything.
They did that in NY and no one went anywhere due to it.
Its the same for rich people, they won’t leave their homes, which may be near family or business, for a lousy two percent. That’s just nonsense.
Liberals are detached from reality and hoping for some sort of utopia where everything is fair and the big guy doesn’t bully the little guy. They fail to grasp the long-term consequences of their policies however and as things get more liberal they also get more depraved, corrupt, poor and selfish. The backbone of the economy will get weaker and weaker. Individuals will contribute less and less and expect more and more… Its a downward spiral. Hold on to your seats.
But many states have higher taxes and wealthy residents. Look at Mass or Cal. Both high tax rates but the wealthy live there.
One of the keys to having a good life, even as a wealthy person, is having a community that universally cares for her citizens. Higher taxes allows that to happen.
You may not like it, but that doesn’t change the reality.
They’ll have their way apparently, because the difference in classes is growing – at an alarming rate. The issue isn’t “rich versus poor”, it’s more like production versus consumption. The number of people who are receiving some sort of benefit from the government has grown to an enormous number. The more people the libs get on the government teet, the more votes they secure.
So… in short, when they get their way, the U.S. can resemble Europe and all of the other failed economies that they do so desire to emulate.
You’re right, we should cut taxes and lower the minimum wage to $1.50…That will bring the business back. Of course no one will have money to buy anything and the government will go broke. But. It’s only the Corporations we really care about
eventually the jobs leave and the state goes belly up
They have already had to leave the country in many cases.
Unions already have the same problem. Big auto and equipment manufacturers left the states that did not have right to work laws.
Look at Detroit, 60 years ago it was a power house of industry and now today it is basically one huge sprawling waste land with astronomical unemployment and violent crime through the roof with abandon and dilapidated buildings on every block.
May be people will finding a better way to working and living together without rich and business control everything.
Then the economy will collapse and the liberals will finally realize the stupidity of their ideals.
They come down here to the great state of Texas or Florida or like most just move over seas.
Liberals has no idea of personal accountability.
Yeah I mean remember the mass exodus of the rich when we had the Clinton tax rates?
I think we should fine the Senators and Legislators like we do Professional Sports.
Just like the players, we the public support (pay) the political team or sports team.
Every time they grand stand or have a temper tantrum they should be fines $50,000.
This way they could cover their own Government pork projects that have bankrupted America.
Yes we need pork projects to benefit individual states but never at the expense of our economy.
Our Government needs to learn to live within their budget, not keep raising their budgets past what America can afford.
Washington is populated by fools who think they are fooling America.
Toss the bums out!
They move.
Or they at least find other places or other means by which to thrive. One of the most recent example is New Jersey. A study by the Center on Wealth and Philanthropy at Boston College measured the migration of people with high net wealth (not income). It found that between 2004 and 2008, the state lost $70 billion in wealth because the wealthy packed their bags and left.
Why did they do this? The study shows that taxes on the wealthy have risen in recent years. In 2004, the top income tax rate rose to 8.97% from 6.37%, on incomes starting at $500,000 — a 40% increase. These income tax hikes were above the levels of neighboring New York and Pennsylvania. New Jersey residents also fled to Florida where there is no income or estate tax. The Wall Street Journal says that Florida received 17% of the households, 20% of the capital flight and 37% of the charitable capacity that left New Jersey. Lawmakers in New Jersey also did away with income tax deductions for charitable giving.
Who does this ultimately hurt? Charities, local communities and state revenue coffers.
“But many states have higher taxes and wealthy residents. Look at Mass or Cal. Both high tax rates but the wealthy live there. ”
-Don’t compare the two, most MA residents volunteer to pay higher taxes so that their children have both arts and sports programs in high schools and also to pay for the big dig (stupid project made more expensive and unsafe by corrupt unions. CA has to collect higher taxes because of the massive 21 billion dollar cost of supporting illegal immigrants. Also their other massive social programs, but it’s been awhile since they have actually voted to increase taxes to pay for them.