Illinois Lawmakers Propose 75 Percent Income Tax Hike « CBS Chicago – Breaking News, Sports, Weather, Traffic, and the Best of Chicago
1. The democrat SOLUTION in the Land of Lincoln.Gov. Pat Quinn and the leaders of both houses of the Illinois General Assembly have agreed on raising the state income tax.
If the bill passes, the plan would raise the personal income tax rate from the current 3 percent to 5.25 percent. That’s a 75 percent increase. In real dollars, that would mean if you currently owe $1,000 in taxes, next year you would owe $1,750.
[Senate president John] Cullerton said House Speaker Michael Madigan and Gov. Pat Quinn fully support the tax proposal, although Quinn once promised to veto any increase of that size.
The governor’s office put out a statement that stopped short of saying the three leaders had reached a final agreement. Rank-and-file legislators said Quinn described the tax plan to them earlier in the day and portrayed it as a deal among all three of the powerful Democrats.
Democrats say they have no choice but to raise taxes as one part of a solution to Illinois’ massive budget crisis. The state deficit could reach $15 billion in the coming year. The government is borrowing money to cover some obligations, letting bills go unpaid for months and cutting corners everywhere from state prisons to state parks.
2. A 2.25% hit on personal income ON TOP OF whatever workers owe in FEDERAL income taxes.
3. Governor Quinn won reelection on Tsunami Tuesday by a whisker, 46.5% to 46.2.
4. What would be the results if the election were held TODAY?
5. Illinois' condition is INTENSIVE CARE.
6. January 3: Illinois Has Days to Plug $13 Billion Deficit That Took Years to Produce - Bloomberg
7. Public pensions plague the plebiscite, 4 billion dollars in arrears.
8. The democrat answer: mom and pop are just gonna have to make it up.
9. Illinois was one of the all blue states to lose representation via the 2010 census, people are fleeing the flatlands.