Illinois Legislators Increase Taxes 66% and Cut .. Nothing
In the 2010 election, Illinois voters chose to keep a Democrat controlled State House and Senate, although by a slimmer margin than in years past. How unfortunate for workers in the land of Lincoln.
As The New York Times reported, State legislators pushed through and passed a massive 66% tax increase in the hours before the new State Congress took over.
Even grudging supporters of the tax increase, which won no Republican support in a state capital controlled by Democrats, voiced a desperate sense of regret over the circumstances in which Illinois finds itself. State Representative Elaine Nekritz, a Democrat who voted for the increase, described her decision as an alternative “between bad and worse.” Another Democrat cautioned his colleagues: “We don’t have a better choice today.”
It appears as though spending cuts were not an option the liberal body wanted to consider. Instead, Illinoisans will be asked to give more of their paychecks to the spend-easy State government. Governor Quinn, also a Democrat, appears ready to sign the tax increase the moment it hits his desk.
Gov. Patrick J. Quinn, a Democrat whose signature would be needed to make any rate increase final, has indicated in the past he believes a tax increase is necessary.
The increases are on both the personal and corporate rates. This will leave consumers with less money to spend and businesses with fewer reasons to stay in or relocate to Illinois.