Relevant:
- 33% Tax Hike Will Hit Illinois; Another Stiffed Illinois Vendor Stops Servicing State; Common Sense in Tucson and Delta Airlines
- Governor Quinn Holds Illinois Cities Hostage Over Budget Proposal; Cities Face Massive Cash Crunch
- Illinois Governor Wants to Borrow $15 Billion to "Balance" the Budget; Illinois Total Unfunded Liabilities Exceed $200 Billion Already
- Illinois Governor Flees Capitol Through The Basement After Disastrous Meeting On State Budget
- Illinois $13 Billion Budget Woes Reach Boiling Point; Governor Quinn Works for Union Thugs and Promises to Raise Taxes by 50%; Bill Brady for Governor
2012-04-24 — globaleconomicanalysis.blogspot.it
Governor Pat Quinn rammed through the largest tax hikes in Illinois history last year. On January 13, 2011, Governor Pat Quinn signed off on a 67% hike in personal income taxes and a 46% hike in corporate taxes.
The result is not what the governor thought. Businesses have fled, more have threatened to leave and Quinn responded with sweeteners. Moreover, Illinois pension plans are still the worst funded in the nation, and the state is still struggling to pay bills.
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