They should sell roads or lay off gov’t employees instead. When businesses are irresponsible, they go bankrupt. They suffer silently. When governments are irresponsible, they cry like the spoiled children they are, then figure out a way to take more money by force in the name of “essential services.”
Illinois Gov. Pat Quinn defended a massive increase in state income taxes passed by lawmakers Wednesday and promised to quickly sign the measure to help heal the state’s ailing finances.
Lawmakers worked overnight to pass the increase to raise the personal income tax rate from 3 percent to 5 percent for four years — a 66 percent increase. Corporate income taxes also will rise, but Quinn rejected the notion that it would decimate businesses.
The rate increase might be the biggest any state has adopted in percentage terms while grappling with recent economic woes. Nevertheless, Illinois’ tax rate would remain lower than in several other states in the region.
(Read more from news.yahoo.com)