Review of Illinois tax increase

January 22, 2011

 There have been numerous reports disputing how Illinois ranks in terms of taxation afterthe recent income tax hike of 66%. 

True is that the state of Illinois used to be in the middle of the pack.  Its recent tax hike has elevated Illinois to the 10th highest taxed state in this country, ensuring that Illinois will no longer be competitive with neighboring states.

According to CEO John Tillman of the Illinois Policy Institute, “The negative Illinois environment is not just driving out job creators and workers, but also the income and tax revenue they represent.”

Research done by the Illinois Policy Institute shows that the effect of the tax increases will cause Illinois to lose approximately 268,660 jobs over the next three to five years, coupled with a net lose of 1,227,347 residents who between 1991 and 2009 did move to other states because of Illinois’s high tax ways.   During years 1995 and 2007 alone, the mass exodus of individuals from Illinois createda net income loss of $163 billion.

Are subscribers to the Lake Forester ready for what will immediately cost the average Illinois household $1,488 more in taxes and a loss of 268,660 jobs?  Representative Karen May certainly thought so when she voted “yes” for the tax increase during the recent Lame Duck Session in Springfield.

Senator Susan Garrett is to be applauded for listening to the people by voting against the tax hike. 

Let Representative May and Senator Garrett hear from you.  Is a larger and more intrusive government that picks the pockets of its citizens really better for Illinoisans?  

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