So the state of Illinois raises state income tax by 67% and raises corp taxes to 9.5%, 4th highest in the country. The good news is, corp tax receipts are up $300 million. But the bad news is, the state has paid out $230 million in tax subsidies to keep more than 2 dozen companies from leaving the state, and more coming. I don't think they solved their budget problems.
These are the companies the governor (D) expected to get more tax revenue from, Illinois voters were sold on the tax hike by telling them the big corps should pay their fair share. Instead, it's the little guys who aren't getting the tax breaks who are bearing the brunt of the tax increase. Illinois ranked 47th out of the 50 states in terms of job creation over the last decade. Wonder why.
Question for those living in Illinois or nearby. What's the mood on the street for what's going on?
These are the companies the governor (D) expected to get more tax revenue from, Illinois voters were sold on the tax hike by telling them the big corps should pay their fair share. Instead, it's the little guys who aren't getting the tax breaks who are bearing the brunt of the tax increase. Illinois ranked 47th out of the 50 states in terms of job creation over the last decade. Wonder why.
Question for those living in Illinois or nearby. What's the mood on the street for what's going on?
