In July, the State legislature overrode Governor Rauner’s veto and passed the largest tax hike in history. The hike raised the individual rate to 4.95 percent from 3.75 percent and the corporate rate to 7 percent from 5.25 percent.
With those hikes, households making about $100,000 will pay an additional $1,200 in taxes each year.
But that was not enough. It never will be.
Today, the Illinois Policy Institute CEO John Tillman emailed, “The Illinois General Assembly will be back in session next week. And guess what? They’re already talking about raising your taxes again. This time, they’re discussing increasing gas taxes. Lawmakers haven’t released specific numbers yet, but talks have ranged anywhere from an additional $0.05 to $0.30 a gallon.”
Tax Hikes in Chicago
The Chicago Sun Times reports Chicagoans face another property tax increase in 2020.
Chicago taxpayers face yet another property tax increase for police and fire pensions in 2020 — and another hike the following year in the tax tacked onto water and sewer bills to save the Municipal Employees pension fund, aldermen learned on the first day of City Council budget hearings.By the city’s own estimate, police and fire pension costs will rise by $297.3 million, or 36 percent, in 2020. The Municipal and Laborers plan costs will grow by $330.4 million, or 50 percent, in 2022.“We’ve done the biggest [property tax] increases,” Chicago Chief Financial Officer Carole Brown said Monday. “But there will be an increase in 2020 for police and fire. The increase for Muni and Laborers will happen a couple years later.“When this Council passed the water and sewer tax last year, there were assumed increases in the tax from the first year to correspond to increases in the ramp. We would anticipate that if those were the revenue sources assigned on a going-forward basis after we got to actuarial funding, there would need to be increases in those revenues.”
Big Round of Thanks
Neighboring governors are offering their thanks to Illinois.
In a fundraiser for Rauner, three neighboring GOP governors, Scott Walker of Wisconsin, Eric Greitens of Missouri, and Eric Holcomb of Indiana each delivered a sarcastic “thank you” to Illinois House Speaker Mike Madigan for “raising Illinois taxes” and “helping create new jobs” in their states.
- “For raising Illinois’ taxes, our economy’s on fire,” Scott Walker stated.
- Missouri Governor Eric Greitens chided Madigan, “We’re growing good jobs.”
- Indiana Gov. Eric Holcomb offered, “We’re growing union jobs faster than Illinois. So, we owe you.”
- Holcomb added, “Hoosiers love you, Mike Madigan.”
Mike “Mish” Shedlock
Raising taxes is the only way out, at least it provides the voters with the recourse to judge their politicians. Currently the system is US revolution bizarro, “Representation without Taxation,” although you can make the case for sales tax and user fees on your phone bill. Trump doesn’t get it, but his tax cut is dead anyway. They don’t even go through the charade of capping deficit spending any longer, today’s spending is tomorrows debt ceiling showdown, money we have already spent. That is why Taylor might be the right guy to promote fiscal responsibility at the Fed.
Honestly I would never live in chicaghell. My wife loves that city, but I have only been to Ohare for a short lay over. I would not even buy a coke there, I will not support their agenda with 1 penny of my money. I actually check where something I buy online comes from. I will not do business with Cali, NY, Ill noise, Taxatusshits, Connetitax, Ore gone. Washington etc. Unless the item is not available else where.
2banana’s Rule
Long term democrat rule + public unions + free sh*t army = misery, ruin and bankruptcy
Bye Felicia
I have to laugh. It makes no difference Republican or Democrat. Here in Michigan republicans have raised the gas tax, sales tax and income tax. Same old game.
$1200 on $100,000 earnings is a BIG chunk of money, especially after all other taxes are stolen too.
They are wrong also because they have ignored the opposite side of their agenda….the increasing masses of people who not only live and some actually prosper from these leachings, but that those leaches are arrogant in in our face about it, making fun of us for working….a sure cure for our “mental illness”. This is not sustainable. We will and ARE increasing seeking alternatives of a “Galt’s Gulch” perspective. Of course this will not be tolerated for long and will ultimately require other choices, but it is the only way to deflect some of this burden back upon the perpetrators. Dependency is an addiction, which is why it is to be avoided at all costs. They do not post “do not feed the bears” signs because they hate bears or want to see them starve. It is well understood that once ANY animal becomes dependent, it is impossible to break them of it. Animals captured from the wild are routinely returned to the wild because of how quickly they become domesticated (dependent). When we have hoards of hungry dependent bears in the streets, maybe then we will understand. Caring for is not usually doing for.
They are wrong. Wrong because humans who struggle to “get ahead” to actually provide themselves comfort and security, are NOT defective, they are not stupid, and they ARE rational to the point of understanding diminishing returns.
Progressives believe that those laboring to get ahead are mentally ill and ultimately immoral. They also believe that while this “deformity” of humanity is disgusting, they also accept it is necessary to fund their agenda as well as produce the goods and services they require. Because of this belief in our defect, it infers that there is no limit to how much they can actually tax us. They believe they could tax 100% and we would STILL continue to struggle against the yoke to get just one inch ahead of others.
So Chicago residents face up to a 30 cent per gallon tax increase, as well as another property tax increase. The question is, at what point do the tax payers revolt?
ponders whether default on all obligations is the answer, then restructure so that benefit enitlements do not exceed a set level of state taxes – say 3%.
Illinois citizens elected them, so no sympathy, they are getting what they deserve.
There is no “Plan B”.
It is pretty obvious that they will just keep whipping the “Tax Donkeys” until the last one leaves the state.