http://illinoispolicy.org/news/article.asp?ArticleSource=515...SPRINGFIELD (Oct. 12, 2012) – When Illinois raised taxes by a record 67 percent in January 2011, Gov. Pat Quinn said: "We have some temporary tax increases that are designed to pay our bills, get Illinois back on fiscal sound footing and make sure that our state has a strong economy." It's been nearly two years since taxes were raised and the tax hike has failed. Illinois still has $8 billion in unpaid bills, Moody’s and S&P have downgraded Illinois' credit rating and the state's unemployment rate is among the worst in the nation. But instead of enacting the reforms Illinois needs, Gov. Quinn and the political allies who helped him land the governorship are gearing up the next massive tax hike: an $8.6 billion progressive tax in 2015.An economic analysis released today by the Illinois Policy Institute shows how a progressive tax would: •raise taxes on Illinois' middle class•force increased taxes on 85 percent of Illinois taxpayers•hurt Illinois' already crippled economy•destroy at least 88,000 jobs, and •decrease Illinois' economic output by a staggering $17 billion to as much as $26 billion--------------------------------------------------I think you have to be severely mentally ill to vote for democrats.
This is interesting:"The Illinois Constitution requires all Illinois taxpayers to pay the same tax rate. If a tax is levied on income at all, this is most fair and stable form of taxation because it allows everyone to pay the same percentage of income to taxes. However, a progressive tax plan being circulated across the state would tax Illinoisans at eight different rates, with the highest rate at 11 percent! This is unconstitutional and unfair."From the Illinois Constitution:SECTION 3. LIMITATIONS ON INCOME TAXATION (a) A tax on or measured by income shall be at a non-graduated rate.http://www.ilga.gov/commission/lrb/con9.htmI wonder if they will try to amend the constitution or just ignore it. They will probably just ignore it.
They will probably just ignore it.The Constitution, whether state or federal, is a minor annoyance to liberals. They ignore it, charge full steam ahead, and dare anyone to challenge them. They figure by the time it works its way into the court system, if at all, even if overturned, they will have gotten what they wanted and the effects of their "legislation" will be too permanent to undo. And the lemmings who voted these goons into office will be too stupid to know what happened and will vote democrat again anyway.
SECTION 3. LIMITATIONS ON INCOME TAXATION(a) A tax on or measured by income shall be at a non-graduated rate.As a fairly new Illinoisan, living in fear of being taxed to death even more by the Chicago mob of liberals, this line in the state constitution provides a small sense of solace to me. But on the other hand, we all know how deeply liberals care about obeying the constitution.
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS.