Not me! Grant Davies of What We Think and Why along with his friends at the Heartland Institute have the story. Illinois has just passed a 67% increase in income tax and a 46% increase in corporate taxes. Take a look at these two excerpts:
John Nothdurft, director of government relations, The Heartland Institute:
These actions by the legislature will substantially hinder Illinois’ ability to bounce back from the great recession on what many economists see as the eve of economic recovery. This is utterly reckless policy that will cost the state taxpayers as well as jobs – and further proof the state should consider eliminating lame-duck sessions.”
Steve Stanek, research fellow for budget and tax policy at The Heartland Institute and managing editor of Budget & Tax News:
“It’s hard to know what to say after watching this spectacle in Springfield. Not a single Republican voted for these outrageous tax increases, showing the absolute contempt of Democrats toward not just their Republican colleagues but the millions of citizens they represent.
“Reckless spending got Illinois into this mess, yet there was virtually no talk of cutting spending. Illinois already ranks 48th in net population growth, 48th in job growth, and 48th in economic performance, according to the American Legislative Exchange Council. Look for Illinois to soon rank last in the nation in every one of those categories.”
For additional comment, contact Steve Stanek at firstname.lastname@example.org
CBS Chicago has more if you’re interested.
Is this totally irresponsible or what? Obama is planning a bailout of Puerto Rico for $6 billion. So, what do you want to bet that Illinois, California, New York and others will be next?
I need a drink!