Budget Buster: Living in IL

[FINFAN]

Well, I'm an ME undergrad, MBA masters w/no PE if that tells you anything. Why would an ME get a PE these days? That seems so antiquated, and seems like something only a Civil would do anymore I can't say that I know any ME's under the age of 65 who have a PE right now. Around here, security clearance matters more than PE status IMHO.

thats what we thought...but when DH was kicking tires about 5-6 years ago, it seemed a PE was pretty much mandatory... and no way was DH going to go thru that.(especially for a salary cut)
Secuirty would not be an issue. matter of fact company he works for now has a lot of Military contracts, tho DH has not had to obtain clearance for his involvement. He worls for an automotive/engine based company.
I know insurance etc, lots of headaches...I have a brother who has lived in Cape Coral for 30 years and my folks lived in Naples until my dad passed last year and had to move my mom up here 6 months ago...but our DD is attending college in Sarasota and I know she is hopeful she finds a job after graduation in the state, she will be in computer animation and there are a few new studios opening up on Fl. Anyway, if that occurs, DH will be far more serious about making the move but we will not be retirement territory ...he turns 50 at the end of the month...and that alone is not optimum for job searching, but I am remaining optimistic.

 

[RitaE]

last I heard they were talking about capping the corporate tax at 7.9% but they still don't appear to have the votes to pass anything. They also passed some Internet Sales Tax thing that is going to drive Fat Wallet and other similar businesses that rely on affiliate income out of the State.

Fat Wallet says Amazon has already stated they will cut them as an affiliate due to that law and Fat Wallet can't afford to operate without their Amazon Affiliate revenue.

 

[preschoolmom]

So many people are voting with their feet. What is Illinois going to do when the tax base all moves away?

 

[LoveBWVVBR]

thats what we thought...but when DH was kicking tires about 5-6 years ago, it seemed a PE was pretty much mandatory... and no way was DH going to go thru that.(especially for a salary cut)
Secuirty would not be an issue. matter of fact company he works for now has a lot of Military contracts, tho DH has not had to obtain clearance for his involvement. He worls for an automotive/engine based company.
I know insurance etc, lots of headaches...I have a brother who has lived in Cape Coral for 30 years and my folks lived in Naples until my dad passed last year and had to move my mom up here 6 months ago...but our DD is attending college in Sarasota and I know she is hopeful she finds a job after graduation in the state, she will be in computer animation and there are a few new studios opening up on Fl. Anyway, if that occurs, DH will be far more serious about making the move but we will not be retirement territory ...he turns 50 at the end of the month...and that alone is not optimum for job searching, but I am remaining optimistic.

I doubt that he'll take much of a pay cut here in Brevard. We didn't when we moved here from MA. Engineering salaries seem pretty competitive here. I haven't heard of any jobs requiring a PE unless you're a Civil. I know plenty of engineers my age here and none of them have PEs It's just not something that is common with anyone but Civils anymore. If I had one I probably wouldn't even advertise it as it seems antiquated, KWIM?

We live a block from the beach on a barrier island and I wouldn't say that insurance is a headache. Yes, it's more expensive that what you're used to, but property taxes are really cheap IMHO so it balances out.

 

[chicagoshannon]

last I heard they were talking about capping the corporate tax at 7.9% but they still don't appear to have the votes to pass anything. They also passed some Internet Sales Tax thing that is going to drive Fat Wallet and other similar businesses that rely on affiliate income out of the State.

Fat Wallet says Amazon has already stated they will cut them as an affiliate due to that law and Fat Wallet can't afford to operate without their Amazon Affiliate revenue.

They passed that? UGH... although I think technically we were supposed to be reporting all of that on our taxes (the stuff bought from amazon that wasn't taxed) in the first place.

 

[HHSTigerFan]

So many people are voting with their feet. What is Illinois going to do when the tax base all moves away?

Wait a minute, didn't the Chicago area population increase by 500K people from 2000 to 2010?

 

[preschoolmom]

Wait a minute, didn't the Chicago area population increase by 500K people from 2000 to 2010?

I guess you're right. I thought, since we lost a US Congress seat, our population was dropping. I guess it isn't, just moving around. Still, if these taxes happen - There will be a lot less businesses considering Chicagoland (since it will cause us to have the highest corporate taxes in the world).

http://www.taxfoundation.org/blog/show/26955.html

 

[preschoolmom]

Well, here it is, they passed it at 66%.

http://www.businessinsider.com/illinois-tax-hike-2011-1

 

[FINFAN]

I am hoping this is a smarmy shock and awe tactic...you know...pass it for this crazy amount and then when it comes time to actually put it all in writing, lower it a bit to get Illinoisians to feel grateful about it
The corporate tax would be the highest in the industrialized world..it's insane, we need to attract jobs, not drive them away...something unsettling here to me yet. However if it is going to be the numbers they say...Indiana has got to be doing a happy dance.

 

[angwill]

Do you know what the changes are for corporate taxes? DH is a small business owner and the thought of the corporate tax doubling from 4.2% to 8.4% is making us sick.

I just read corp taxes went from 4.8% to 7% for corporations. Time to take our business out of Illinois for real.

edited because I can not find an article that says it definitely passed.

 

[Gr8t Fan]

It actually has only gotten out of committee - it hasn't passed ... YET.

 

[angwill]

I found the following on population With a population decrease of 3.3 percent since 2000 Illinois will lose one congressional seat, dropping the state's delegation to 18 seats.
http://oswego.patch.com/articles/the-results-are-in-2010-census-data-released.

Chicago may have increased population, which could consist of people moving to where the jobs are, but it seems as a whole Illinois population decreased.

Weird now I found this article that says the opposite: Though Illinois' population has increased 3.3 percent since 2000, its gains didn't keep up with those elsewhere in the nation, the census shows. Illinois, the fifth most populous state in the country, is home to nearly 12.9 million residents.
http://www.nwitimes.com/news/local/illinois/article_ad1202fb-0707-5c1f-b533-1c24a1b1c0c6.html

 

[angwill]

It actually has only gotten out of committee - it hasn't passed ... YET.

thanks

 

[HHSTigerFan]

I found the following on population With a population decrease of 3.3 percent since 2000 Illinois will lose one congressional seat, dropping the state's delegation to 18 seats.
http://oswego.patch.com/articles/the-results-are-in-2010-census-data-released.

Chicago may have increased population, which could consist of people moving to where the jobs are, but it seems as a whole Illinois population decreased.

Illinois population increased 4%, the rural areas continue to lose jobs and people.

 

[HHSTigerFan]

Its passed the house, now is in Senate and then needs Quinn signature..and will be effective immediately.. this is basically getting rammed thru Springfield by the Democrats before the newly elected people are seated.

 

[preschoolmom]

It actually has only gotten out of committee - it hasn't passed ... YET.

Oh, sorry. Thanks for clarifying!

 

[FINFAN]

1 vote...it passed by 1 vote

http://www.nbcchicago.com/news/local-beat/Illinois-Tax-Hike-Passes-113337994.html

All that is needed is Quinns signature

so, curious how they plan to re-tool the government...not just our income tax and corporate income tax.

 

[HHSTigerFan]

So they claim the budget would be in the hole by $16B this year, they pass a huge tax increase that will raise $7B.... and then instead of talking about cutting the budget to close the gap on that other $9B, they say it can only INCREASE by 2% per year????? WOW

 

[angwill]

1 vote...it passed by 1 vote

http://www.nbcchicago.com/news/local-beat/Illinois-Tax-Hike-Passes-113337994.html

All that is needed is Quinns signature

so, curious how they plan to re-tool the government...not just our income tax and corporate income tax.

I am sure many people are asking the same question.

 

[of the seas]

So we just voted in November about recalling a governor and it passed.......just sayin.