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Tag Archives: tax breaks

TAX BREAK GIVEAWAY FAILS TO DO THE JOB

Illinois’ flagship job program has awarded millions of dollars to companies that never hired an additional employee. It’s doled out millions more in tax breaks for corporations that eliminated jobs and became smaller. It’s allowed companies to reap lucrative rewards, then relocate to other states without penalty or repayment. Illinois cut these deals through a… read more

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COSTLY TAX BREAKS

The biggest individual tax break is for employer-paid health care, health insurance and long-term care insurance, none of which is counted as taxable income. That provision cost the government an estimated $143 billion last fiscal year, and is estimated to cost $150.6 billion this year. Taxing dividends and capital gains at lower rates than ordinary… read more

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