By Gus Swenson
Watseka News reporter
The state of Illinois has just approved a massive state income tax hike and one that Illinois Governor Pat Quinn vows to sign quickly into law. Lawmakers passed the proposal to raise our personal income tax rates to 5% for the next four years-a whopping 66% increase. Corporate taxes will also rise to 7%, but Quinn denies that the increase will drive businesses out of the ailing state. We disagree. Why should residents or business remain in a state with ridiculous taxes when they can go elsewhere?
The rate increase is the largest that any state has passed in American history.
"It's important for their state government not to be a fiscal basket case," Quinn told reporters
This was the last harrah of the General Assembly who worked into the night to pass the increase before the new members were sworn in at noon. It is always the tax payers who pay the price for wasteful spending and crooked politicians.
Despite the fact that this is supposedly only going to last four years, amidst an already failing global ecomony, we predict that these high taxes will be permanent.
Governors in neighboring states are already attempting to draw tourists, business and residents from the failing state of Illinois.
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