Almost a year after Illinois’ record income tax increase, the state’s unemployment woes contrast starkly with the slow but positive national economic recovery. Unemployment rates in 46 states dropped since January 2011, and some dramatically. Illinois’ unemployment rate, on the other hand, was 9.8 percent in December, up from 9 percent in January 2011. Simply put, Illinois placed more people on the unemployment rolls than any other state in the country.
Illinois leadership had substantive policy options when it began 2011 with major fiscal challenges. But rather than reduce spending, tackle its pension problems and reduce the cost of doing business in Illinois, officials chose to kick off the year with the largest tax hike in state history.
The results? More deficits, an estimated $7 billion in unpaid bills and a downgrade by Moody’s credit agency to the lowest rating in the country. The state had to pay companies to stay in Illinois, and, worst of all, more Illinoisans joined the ranks of the unemployed.
Yep--tax hikes are the answer. No need to reign in the drunken sailor spending spree...
__________________
"We can have no '50-50' allegiance in this country. Either a man is an American and nothing else, or he is not an American at all."-- Theodore Roosevelt
A wise man's heart is at his right hand; but a fool's heart at his left. Ecclesiasties 10:2
The last four letters in American..........I Can
The last four letters in Republican........I Can
The last four letters in Democrats.........Rats
|
