Liberty on Tap since 1984
Heartland Institute Comments on Huge Tax Hikes in Illinois
I moved to Illinois from California this summer, and just joked with someone over on Facebook that I'm as good at picking states as Larry King is at picking wives. Illinois, as much as a basket-case of a state as California (only with worse weather), just approved a 66 percent increase in the income tax rate and a 46 percent hike in the corporate tax rate.
Heartland's resident tax experts -- Steve Stanek and John Nothdurft -- had something to say about this ... and it wasn't pretty.
Steve Stanek:
Heartland's resident tax experts -- Steve Stanek and John Nothdurft -- had something to say about this ... and it wasn't pretty.
Steve Stanek:
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.John Nothdurft:
Today Democratic lawmakers in Illinois forfeited the tax code’s lone competitive advantage by raising the income tax to 5 percent – a hike of 67 percent. It is no surprise that Wisconsin Gov. Scott Walker and Indiana Gov. Mitch Daniels have been so vocal in their pleasure about today’s actions.Read the full statements here (and weep).
Comment
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Comment by Marcotte Anderson on January 20, 2011 at 4:34pm -
It is no surprise that Wisconsin Gov. Scott Walker ....
It should be, since Wisconsin's rates are still higher than Illinois', after the 2 point increase from 3% to 5%. Although I guess a politician (or blogger) twisting things to fit their agenda is never surprising.
It would also be more complete to note that the tax increase gets rolled back over the next 15 years (though why it takes so long to roll back such a small increase is beyond me).
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