Blagojevich's tax plan supports health care
Big corporations take hit for state health, education
By Patrick Wade and Pamela Nisivaco
Posted: 4/6/07 Section: News
- Page 1 of 2 next >
|
The tax plan uses gross receipts to identify businesses that earn $2 million or more in in-state sales per year and taxes those businesses accordingly. Increased state revenue will go towards health care and education, Blagojevich said.
"It's a question of the wealthy and the powerful, and (then) everyone else," he said.
The governor said the tax plan will benefit small businesses, as well as individuals, and put a greater amount of the tax burden on large corporations, which he said are not paying enough tax dollars.
"Our system isn't working," Blagojevich said. "And how can that happen in the richest, most powerful country?"
Rev. Jesse Jackson and other business leaders plan to respond to the tax plan at noon on Friday, according to a press release from the Rainbow PUSH Coalition.
"(The plan) will create a hardship for small business owners," the release read.
The coalition is concerned with the plan since many of the state's small business owners are minorities, according to the release.
Danville Vice Mayor Mike Puhr said he has received many letters from constituents who run businesses and plan to leave Illinois if the budget is passed.
Small businesses feel the larger companies they purchase goods from will raise prices to cover the added tax burden.
"The marketplace always decides what prices are," Blagojevich said. "There's nothing to stop these same guys who are saying (they will raise prices) from raising prices now."

Illini Media
WPGU
buzz
Illio
Technograph
The Daily Illini encourages on-topic discussion through article commenting on its articles and blogs. It is our policy not to delete any comments based upon political or ideological point of view. However, we reserve the right to remove comments that are abusive, off-topic or use excessive foul language.
The posting of copyrighted material, including any and all content for which you are not the author, is illegal under Federal intellectual property laws. Such activity will not be tolerated. Comments containing copyrighted material will be removed, and continued violation of copyright law is grounds for being banned completely from commenting on DailyIllini.com.
If you feel any post meets these conditions or merits review, please e-mail our editors at meonline@dailyillini.com.
Viewing Comments 1 - 1 of 1
Hank Rearden
posted 4/06/07 @ 8:13 AM CST
Since when did Stalin rise from the dead and become governor of Illinois?
Post a Comment