http://www.chicagoreader.com/chicago/politics-without-independents-jesse-jackson-jr-gone/Content?oid=8485286 Comments On: With Jesse Jackson Jr. out of the way, who's left to take on the Man? by Ben Joravsky en-us Copyright 2013 Chicago Reader. All rights reserved. This RSS file is offered to individuals, Chicago Reader readers, and non-commercial organizations only. Any commercial websites wishing to use this RSS file, please contact Chicago Reader. wil@desert.net (Chicago Reader Webmaster) Wed, 19 Jun 2013 00:00:01 -0500 Wed, 19 Jun 2013 05:45:00 -0500 Foundation http://blogs.law.harvard.edu/tech/rss Posted by Former Teacher]]> Fri, 08 Feb 2013 11:12:37 -0600 Chicago Reader
Corporate profit: $1,000,000
Federal tax: $340,000
Illinois tax: $95,000
Net: $565,000
Tax on dividends: $113,000
Net received by owners: $452,000

So that means that on corporate profit of $1 million, the owners would have to pay OVER HALF of those profits to the government in order to receive those funds.
Posted by moroots]]> Thu, 31 Jan 2013 22:21:57 -0600 Chicago Reader
"And in what fucking universe would anyone choose the corporate form of business, knowing that they only get to keep a little bit more than half of their earnings?"

Two-thirds of the corporations in Illinois have figured out how to not pay state income taxes, so the corporate form works just fine for them.

I'm curious as to why you didn't use the effective tax rate in your example.
Posted by Shorty Lee Lowe]]> Thu, 31 Jan 2013 19:35:13 -0600 Chicago Reader
Corporation makes $100,000 profit in 2012. This results in Federal tax of $22,250 and Illinois tax of $9,041

After the corporation pays the tax, they have $68,709 left.
Posted by moroots]]> Thu, 31 Jan 2013 13:58:11 -0600 Chicago Reader
"Shorty, if that's what you took from my post, then you might want to brush up on reading comprehension."

"Word to the wise: big businesses, the kind you claim to despise, partner up with government to rig the system in their favor."

Didn't I repeatedly say the very same thing? I guess I'm not the only one who needs to brush up on his reading comprehension.

"The point is the State of Illinois has made it extremely disadvantageous to be organized as a corporation in this state."

You can say that as often as you like, but it simply isn't true.

"Why don't you put your money where your mouth is and start a corporation in Illinois and try to make a profit so you can pay your 'fair share'."

Huh?
Posted by Shorty Lee Lowe]]> Wed, 30 Jan 2013 17:34:04 -0600 Chicago Reader Posted by moroots]]> Tue, 29 Jan 2013 19:06:47 -0600 Chicago Reader
"The fact that you claim that 2/3 of corps paid no taxes in 2008 proves nothing."

The evidence I referenced proves that two-thirds of Illinois corporations paid no income tax in 2008. That's something.

"Their may be reasons for this so-called fact that you think proves your point.
Posted by Shorty Lee Lowe]]> Fri, 25 Jan 2013 17:32:56 -0600 Chicago Reader Posted by jjt]]> Fri, 25 Jan 2013 13:26:45 -0600 Chicago Reader Posted by Brumen]]> Fri, 25 Jan 2013 09:59:36 -0600 Chicago Reader
"Corporations write the tax code? Really, where do you come up with this shit?"

I can't believe you were serious when you posted that comment.
Posted by Shorty Lee Lowe]]> Wed, 23 Jan 2013 19:50:41 -0600 Chicago Reader Posted by Brumen]]> Wed, 23 Jan 2013 17:11:06 -0600 Chicago Reader Posted by jjt]]> Wed, 23 Jan 2013 15:35:18 -0600 Chicago Reader Posted by Bruman]]> Wed, 23 Jan 2013 11:17:19 -0600 Chicago Reader Posted by jjt]]> Wed, 23 Jan 2013 09:16:57 -0600 Chicago Reader Posted by Brumen]]> Tue, 22 Jan 2013 20:23:46 -0600 Chicago Reader
If that's true, why would they write a tax code that has any corporate taxes at all?
Posted by The original IAC]]> Tue, 22 Jan 2013 19:43:48 -0600 Chicago Reader Posted by moroots]]> Tue, 22 Jan 2013 18:42:35 -0600 Chicago Reader Posted by jjt]]> Tue, 22 Jan 2013 18:33:54 -0600 Chicago Reader Posted by Brumen]]> Tue, 22 Jan 2013 18:30:35 -0600 Chicago Reader
"Illinois has a 9 1/2% corporate tax rate, well above average. The effective tax rate has more to do with federal deductions as a result of economic conditions, perfectly legal.
Posted by Shorty Lee Lowe]]> Tue, 22 Jan 2013 16:38:06 -0600 Chicago Reader Posted by Bruman]]> Tue, 22 Jan 2013 10:58:33 -0600 Chicago Reader
"Beautiful statement Shorty, where do you get your facts from, do you pull them out of your ass?"

From "Illinois Taxes: The High, the Low, and the Unequal" Posted Oct. 22, 2012, at 3:40 p.m. By Whet Moser on ChicagoMag.com.

"Two-thirds of corporations filing Illinois returns owed no taxes in 2008, according to the most recent data available from the state Department of Revenue.
Posted by Shorty Lee Lowe]]> Mon, 21 Jan 2013 19:00:26 -0600 Chicago Reader "Since two thirds of the corporations in the state of Illinois don't pay their fair share in taxes, let's start there. We need corporate tax reform.
Posted by Bruman]]> Mon, 21 Jan 2013 16:26:05 -0600 Chicago Reader
"Anybody seen 'Waiting for Superman' or ' The Lottery', two excellent movies about the plight of public education today?"

So you liked two pieces of propaganda that reinforce your perspective. Kudos to you.

"Looks like [Emanuel] is starting up his reelection campaign, are you ready for 4 more years?"

Don't count your chickens, Brumen.
Posted by Shorty Lee Lowe]]> Mon, 21 Jan 2013 15:56:38 -0600 Chicago Reader Posted by Brumen]]> Mon, 21 Jan 2013 11:16:42 -0600 Chicago Reader