The Governor of Illinois has a simple solution to the bad economy, raise taxes by 50%!
Gov. Pat Quinn today acknowledged he plans to raise income taxes in the wake of a Chicago Tribune story that he is considering a 50 percent increase on individuals. He declined to confirm details in the Tribune report, which said he is looking at raising the personal income tax from 3 percent to 4.5 percent as well as increasing personal exemptions.
“There will be some that will have a higher tax burden,” Quinn told reporters today during an impromptu news conference at the James R. Thompson Center, adding it would be based on the ability to pay. Quinn said an increase would be part of a “fundamental reform” of the income tax system that would provide tax relief for many Illinoisans. He said that would come from more generous tax exemptions for working families who are suffering amid the nation’s economic decline.
Ah, I see. They want to tax the rich. Why is it that this is the only things Democrats know how to do? They never met a tax hike they didn’t like. In all my years, this is what I have seen them do over and over again. Yet it has been proven time and again to be a bad move. When you punish the people at the top, they pass the costs down the line.
When businesses have to pay more, they charge more. When it costs more for them to do business, they hire less.
It’s really simple. A no braimer. Which is apparently what these politicians have in their skulls. Or don’t have as the case may be.
Al they’re doing is making things worse. Idiots.