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Detailed text transcripts for TV channel - MSNBC - 20110114:00:31:00

Of 50 are expected, actually, balance or have a surplus in balance or have a surplus in fiscal 2011. fiscal 2011. what states are doing here is what states are doing here is they re trying to raise income they re trying to raise income taxes. taxes. for 2010, you can see 11 states for 2010, you can see 11 states enacted or proposed upper income enacted or proposed upper income taxes here. taxes here. this is actually pretty common. this is actually pretty common. by recession standards, we look by recession standards, we look at history. at history. in the early 90s, all but six in the early 90s, all but six states raised ovrall taxes by states raised ovrall taxes by 5% on average. 5% on average. in the early 2000s they raised in the early 2000s they raised 2% on average total taxes. 2% on average total taxes. so, illinois income tax so, illinois income tax increase here in context may be increase here in context may be the first for 2011, but could be the first for 2011, but could ....

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