Wednesday, January 12, 2011

Meanwhile about that 66% tax hike in Illinois

It looks like Quinn will sign this into law. There was concern that lame duck Springfield Republican legislators would vote this bad boy in, but according to this piece it was strickly partisan. Here's the two cents of Rick Moran, based on the fact that Quinn congratulated Springfield legislators for voting in favor of this tax increase:
And this is cause for congratulations and celebration? In the cloud cuckoo land of Democratic politics in Illinois, you betcha.

And don't let anyone tell you that this is for "deficit reduction." In order to get the support of black lawmakers, Quinn promised to spend a billion dollars over the next 4 years on schools. No doubt other uses will be found for all that cash besides solving the state's massive fiscal crisis.

What's needed in Illinois is an intervention. Some addiction expert should sit down with these clowns and gently point out that in the midst of a crisis where the state can't pay its bills and some merchants have waited a year for the state to make good on its purchases, you don't go and spend a billion dollars even on a worthy cause like "the children." By this time next year, it will be back to business as usual in Springfield - except the taxpayers will be poorer and businesses will be scarcer.
We could've used that intervention last year and it didn't happen. :(

Also noted was:
They also increased business taxes 46% in a state where the tax base has been disappearing for a decade.
Will this state ever turn around as far as not only corruption, but business environment as well.

Check out this video, Rich Miller of CapFax made a nice retort before Gov. Quinn hit the elevator:

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