Illinois Lawmakers Propose 75 Percent Income Tax Hike

CBS Chicago ^ | January 07, 2011 | CBS Chicago

[rocksblues]

We have had temporary tolls on the Garden State Parkway since the 1950’s. They went from 10 cents to $1.50. Temporarily of course.

[mo]

Why does a 75% decrease in spending sound way more reasonable?

[ChiMark]

It’s the classic economic death spiral; raise taxes to fill the budget revenues dry up raise taxes again, more business leaves the state budget deficit gets bigger.

Chicago’s solution to the budget shortfall is to hike parking fees. Wow.

People of Illinois are stupid stupid stupid stupid stupid.

[lakeman]

Just in time for the next election.

[Stosh]

Two months ago we had a chance to avoid this fiasco, and still the voters put donkeys in just about every meaningful state office.

Any moron who voted for Quinn and didn’t know this was coming deserves to be taxed for excess stupidity. Sadly, the rest of us will take it in the shorts as well.

[swarthyguy]

Ha, I was gonna weigh in with the example of that shining promise.

Not only that, Dukakis, in his capable, gracious and stunning wisdom got away with dinging people retroactively.

It’s too bad that none of our Republican governors could do away with the Dukakis surtax, there were FOUR of them.

[southernnorthcarolina]

Once people from Illinois get tired of paying a 5.25% state income tax, they’ll probably stampede down here to low-tax haven of North Carolina, where the state income tax rate is... ummm... 7.75%. Oops.

[technically right]

The article didn’t mention it but included in this little bag of legislative goodies is an increase in the corporate income tax from 4.8% to 8.4%. That’s pretty big hit and you can bet that lots of Illinois corporations that are still alive will think long and hard before they expand in Illinois. And for those who are barely getting by right now that may be thing that forces them to close the doors.

I really do feel sorry for a lot of those folks from Downstate. They are generally socially and fiscally conservative but their vote gets more than offset by the cesspool that is Cook County.

[dennisw]

That income tax increase will go entirely to paying pensions and bennies for those parasites. State worker parasites. Illinois people have to rebel or will become slaves laboring to old age to support those bums retiring early in princely style

[dragnet2]

That income tax increase will go entirely to paying pensions and bennies for those parasites. State worker parasites.

That's it...The tax payer peasants work for the government employees and their tax paid retirement pensions....

Americans are getting robbed and raped by those that are were supposed to be working for them....Public servants? lol...

Public masters / private sector servants.

Those in Government will turn working Americans into their slaves while they sit back enjoying their tax paid government retirements.

[dennisw]

The article didn’t mention it but included in this little bag of legislative goodies is an increase in the corporate income tax from 4.8% to 8.4%. That’s pretty big hit and you can bet that lots of Illinois corporations that are still alive will think long and hard before they expand in Illinois. And for those who are barely getting by right now that may be thing that forces them to close the doors.

This round of tax increases is a fine example of the public sector sucking the lifeblood out of the private sector to pay off the lavish salaries, bennies and penions for Illinois state workers

The private citizen is expected to slave away for his Gubbermint masters

[Peet]

We had a “temporary” income tax increase in MA about 20 years ago.

Yes, and we voted to roll it back - BINDING ballot initiative - which the suckfish on Beacon Hill just ignored.

Mass is too corrupt to fix; it has to crash first, then be rebuilt.

[EVO X]

Looks like Illinois wants to grab the 2% the feds were handing out for the SS tax holiday. If they pass it quickly,
most rubes won’t even know it..