Tag Archives: Tax increase

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Massive Tax Bill Rejected by Governor Rauner; Back to the House

Posted on July 5, 2017 by David E Smith
Yesterday, the Illinois Senate took up the misguided proposal to massively increase the income taxes of citizens and corporations in Illinois. It is ironic that the General Assembly voted to impose oppressive government taxes on Illinoisans during Independence Day weekend.
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Illinois House Approves Massive Income Tax Increase

Posted on July 3, 2017 by David E Smith
Late Sunday afternoon (July 2nd), the Illinois House passed a massive tax hike for families and businesses. What does that mean for taxpayers? Well, if this proposal isn't vetoed by Gov. Bruce Rauner, the personal income tax rate would increase by 32 percent, surging from 3.75 percent to 4.95 percent, and the corporate rate would jump from 5.25 percent to 7 percent. This would enable and fund business as usual. ("Enable" is the key word here...)
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Tax Increases, More Spending and ‘A Disaster’ of a Budget for Illinois

Posted on July 1, 2017 by David E Smith
State government summer re-run season is underway at the Illinois capitol building where both political parties are cooperating to send our state further into the fiscal abyss. Midnight came and went as we closed out the month of June without a budget being signed into law, so Illinois has begun its third straight year without one.
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Must We Follow Greece?

Posted on April 16, 2012 by David E Smith

The suicide of a Greek pharmacist has triggered reaction around the world, and has focused attention on the economic crisis in Greece and the European Union.  However, it appears that many will take the wrong lesson from it.  There will be calls for increased taxes and spending to “protect” citizens from such an end.  That would be most foolish. 

Dimitris Christoulas’ suicide in Athens this past Wednesday was both tragic and portentous, as many nations, including the United States, are following Greece down the same pathway toward insolvency.  Mr. Christoulas sadly believed himself to be between a rock and a …

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State Democrats Pass Massive Income Tax Increase

Posted on January 12, 2011 by David E Smith

How did they vote?

Illinois lawmakers approved a 66 percent increase in the state’s income tax in the final hours of a lame duck session.

Despite tens of thousands of calls, emails, faxes and letters in opposition to increased taxes, our state legislators decided to raise the state’s personal income tax from the current 3 percent flat rate, to 5 percent and the corporate income tax rate from 4.8 percent to 7 percent.

The bill number is SB 2505.

In the Illinois House, our state representatives voted 60-57 in favor of this measure late Tuesday night. (The House needed …

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