Illinois in response to a massive 37 billion dollar budget increased on May 23rd made a series of tax hikes that they estimate will bring in a record 5.4 billion dollars this year. It amounts to an extra 1125 dollars per family on average. This in addition to monstrous property tax hikes, which will impact property values across the state.
Critics are saying that this will cause people to flee the state and punish those who are unable to leave. With taxes and budgets hitting all time record highs it is starting to look like this Liberal stronghold is on the verge of imploding.
Illinois state senate passed the new tax hikes with a 32-23 vote. No Republicans voted in favor of the bill. Republicans argued that Democrats were choosing to raise taxes instead of reforming spending habits, a step which they say needs to happen.
This tax hike is very similar to what they did in 2011. The General Assembly increased personal income taxes by 67 percent and corporate income taxes by 46 percent.
Illinois state government took in 32 billion dollars in new tax revenues from 2011 through 2014, which relieved pressure to enact real spending reforms.
Democrats simply spent the money and left Illinois on a budgetary cliff when the tax hike expired. And because the state’s structural spending problems had gone unaddressed, and despite the 32 billion dollars in new tax revenue, by 2014, unfunded pension liabilities had increased by more than 20 billion dollars and the state’s bill backlog totaled more than 7 billion dollars.
Real budget solutions would benefit the state more than tax hikes. In fact raising taxes is only going to drive tax payers out of the state and leave them with more funding problems in the future. Instead of punishing law abiding citizens, Illinois would do better to seek ways to cut spending, encourage growth in the free market, and to reduce crime.
Causing home owners to struggle is going to drive down property values and hamper growth in construction and service industries. Neighborhoods will begin to decline until they eventually become crime ridden run down slums that no one wants to live in.
So here is an idea for all of you people in Illinois, vote those crazy liberals out of office. Start putting in some fresh new faces then maybe you will get someone in who will exercise fiscal responsibility instead of taxing you all into the poor house.
Mueller has started looking for evidence that isn't there by indicting Russian companies that don't exist. And yesterday upon the stair he saw a man that wasn't there.
https://capitalismizawesom.wixsite.com/rightabouteverything/blog/mueller-has-gone-antigonish
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