January 13, 2011   News and Happenings   No comments

Massive Tax Hikes for Chicago and Illinois


While many states consider boosting their economies with tax cuts, Illinois officials are betting on the opposite tactic: dramatically raising taxes to resolve a budget crisis that threatened to cripple state government.


Neighboring states gleefully plotted Wednesday to take advantage of what they consider a major economic blunder and lure business away from Illinois.


“It’s like living next door to `The Simpsons’ — you know, the dysfunctional family down the block,” Indiana Gov. Mitch Daniels said in an interview on Chicago’s WLS-AM .


So, they did it.  Facing a massive budget deficit created by a generation of irresponsible spending, union kickbacks, and unfunded pension giveaways, the State Assembly this week did exactly what we allowed them to do with our votes in November – shift the burden onto us.

What will the massive tax hikes, 67% on personal income taxes, over 40% on business taxes and a doubling of the cigarette tax, do to make Illinois a more attractive place to do business?  It will protect some jobs – jobs doled out by the political machine.  But these are not the jobs that will make us competitive in the new century .

WHAT NEXT??



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