Posted on 07/01/2017 3:43:58 PM PDT by BackRoads775
Thanks for the link.
How does anyone know that, if the legislature increases the income tax rate, the revenue will increase by $5 billion? I think the tax rate increase will cause people to leave Illinois, causing the state revenue to decrease.
The solution for Illinois is to petition the federal government to dissolve the State of Illinois and to create the Illinois Territory. The federal government will set up a territorial government to last at least twenty years before allowing any part of the Illinois Territory to become a state. The federal government will solve the sellout of the taxpayers of the State of Illinois to the big labor unions and by the Illinois legislature by cutting off payments to the various retirement funds telling the trustees of those funds to make due with what they currently have in their coffers.
And the rest of the country will win by the Illinois Territory ceding its Representatives and Senators in exchange for the rest of the country having to pay for the federal goods and services they receive.
Can Connecticut, New Jersey, and Maine be far behind Illinois?
To avoid that death spiral you write of, what if the comptroller simply ignores court orders and does her best to pay the outstanding bills in the most prudent manner possible? Will the feds lock her up? And since this lawsuit worked for the medicare providers you know others will sue for monies owed. I am simply saying that the Comptroller can avoid an unwinnable situation by ignoring the court order. You can’t get what isn’t there. The long term solution may already be lost. I am not sure if Illinois can pull itself out. I think the State will need to amend their constitution to allow for bankruptcies and give the assorted pensions a haircut. I am not sure the political will exist to do what is needed in the time allowed before ppl start to abandon the state. I live in Illinois and already you hear talk of people retiring to other states to avoid the high cost of living here.
Agreed on that last, and most of the rest, too.
I have friends who were planning their exodus from IL long B4 this “straw”.
It’d be VERY interesting, and probably very damning (to the IL corrupt and libs) to learn the demographics of people who are leaving already...
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