Written by David E. Smith
Earlier this week, Mayor Rahm Emanuel and his minions in the Chicago City Council passed a massive tax hike that will COST most city homeowners $600-$800 MORE in taxes (maybe more) so that the Left’s BIG GOVERNMENT can continue to inefficiently flounder under one Party rule. This tax increase is on top of the Cook County 1 percent sales tax hike that starts on Jan. 1, 2016.
Yes, I intended to say “flounder.” Moody’s Investors Service responded to this announced tax increase by asserting that it is not enough to fill the overspending budget hole created by decades of feckless political (mis)management. … Continue Reading
Written by Benjamin BanMetre
Illinois began August with a $4.4 billion dollar backlog of unpaid bills. If lawmakers would have kept the promises they made in 2011, the backlog would be zero today – or close to it.
In January 2011, Illinois lawmakers pushed through a record tax hike that raised the income tax rate on individuals to 5 percent from 3 percent, and on corporations to 7 percent from 4.8 percent. They called it the Taxpayer Accountability and Budget Stabilization Act and went on record making the following promises:
“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.” – Gov.
… Continue Reading