Say It Isn’t So….Illinois Proposes To Raise State Income Taxes 75 Percent, From 3% To 5.25% For The Next Four Years
Posted By thestatedtruth.com on January 9, 2011
Next up, California……Illinois just kicked the can down the road, there is no chance this tax will ever go back to where it was. None, Not’a, Zippo, Zero……You get the point.
SPRINGFIELD, Ill. (CBS) – Gov. Pat Quinn and the leaders of both houses of the Illinois General Assembly have agreed on raising the state income tax.
If the bill passes, the plan would raise the personal income tax rate from the current 3 percent to 5.25 percent. The increase is for four years. After that, the personal income tax would go down to 3.75 percent.Â
The Democratic leaders in the Illinois General Assembly believe this income tax increase, a corporate tax hike, and a $1-per-pack tax increase on cigarettes will erase the state’s $15 billion budget deficit.   Dreamers!  Tax hikes are like roaches, there’s never just one.
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