byMark Richardson
Illinois News Connection
CHICAGO -- As Illinois residents get ready to pay their taxes next year, they could be in for some sticker shock.
Illinois News Connection
The 2023 State Business Tax Index survey, out this week, ranked Illinois 36th out of the 50 states for the efficiency and competitiveness of its tax code. The results showed while wage earners are doing well, small businesses, homeowners, and consumers are shouldering an outsized share of the state's tax burden.
Janelle Fritts, policy analyst for the Tax Foundation, said even though Illinois finished in the bottom third of the rankings, it could have been worse.
"Illinois' best category is the personal income tax, and that's because Illinois has a flat income tax with a relatively low rate of 4.95%," Fritts pointed out. "That is really what's bringing up the score from being even lower."
The annual survey, put out by the Washington D.C.-based Tax Foundation, ranks states based on how their tax policies affect the state's economy. Fritts explained governments need to earn revenue, but when taxes get too high, the economy is less competitive and can drive people to move to states with lower taxes.
Fritts added Illinois' other tax categories, including sales, corporate, and unemployment, are dragging down the state's rankings, but one particular levy is taking the biggest bite.
"Where Illinois really struggles is property taxes, which I'm sure will come as no surprise," Fritts contended. "Illinois has very, very large property-tax burdens in terms of how much they bring in and how big of a portion of personal income property taxes are."
Fritts noted the effectiveness of a state's tax system often determines the success of its economy.
"States' biggest competitors are each other," Fritts remarked. "As the economy is becoming increasingly mobile, tax competitiveness matters more than ever before. So people are looking at those tax codes. They do make a difference for both businesses and residences. So states do need to be aware of how they compare."
Neighboring states Indiana, Iowa and Wisconsin were all ranked higher than Illinois. The top five in the survey were Wyoming, South Dakota, Alaska, Florida and Montana. New Jersey came in last.
Thanksgiving always comes and goes too fast. We often think, "We need more time to focus on the Thanksgiving holiday." For many, it seems that Thanksgiving gets sandwiched between Halloween and Christmas.
By late September, many of the stores and television commercials are focusing on Christmas.
The only way we can fix the “fast Thanksgiving” holiday is to make Thanksgiving celebration every day. We shouldn’t wait until Thanksgiving to give thanks but give thanks every day.
A thankful heart is a healthier heart. Living in an attitude of Thanksgiving celebrates the gift of life and every opportunity to live life.
Many of us have dreaded the shorter days. Dark by 6 o’clock and soon by 5 or even 4:30 in some areas. I used to always dread that but my attitude has changed. I’m just happy to be alive to experience the changing seasons. Take advantage of these cooler, shorter days to get some rest. Longer days will be back soon and you can mow grass, work or walk until 9:00 or later every evening. Go with the flow and enjoy the differences.
I miss the Thanksgivings when my mom and dad were alive and mother cooked. If everyone got together, we could have 20 people in the house. This was a tiring time for my mother. Be sure to always praise the person carrying the cooking load.
Time passes quickly. Every day we should embrace the day. When you see someone, talk to someone, share a meal with someone then by all means embrace and savor the moment. Give thanks for all occasions that you have to spend time with others whether family or friends.
Thanksgiving is not the same for many of us because there are empty seats at the table. We miss moms and dads who have left us for a better place. We miss wives, husbands, children, and siblings who have left this life too early. This makes us sad and dampens our spirits. Yet, look around and see the people who may not be here next year. There are no guarantees. Be kind, be loving. Say good words to them. Lift them up. It will make you feel better to give thanks for people and to anoint them.
Jesus was anointed by Mary the sister of Martha before his arrest and crucifixion. Some criticized her for doing it but Jesus said she has prepared me for the burial. Let her alone he said she has done a good work. After Mary finished anointing Jesus’ feet the house was filled with the smell of the ointment. When you love and are kind to people it always brings a better fragrance and atmosphere into the house. A part of this is showing Thanksgiving for them and toward them. Mary ended up with that ointment on her hands and in her hair. When you do good stuff for people to honor them a lot of that good stuff comes back to you.
Have Thanksgiving every day. Give thanks, express thanks and live in a spirit of being thankful. Your attitude will make your day better and encourage others around you.
