POW! Illinois State Legislature Takes Aim at its Citizens, Businesses
Really bad news, and I am nearly speechless. The Illinois Legislature--at least the Democrats who dominate it-- is planning to nearly double the Illinois Individual Income Tax. In addition, the legislature will impose sales tax on mail-order businesses who don't have a physical presence in the state but do businesses with Illinois-based affiliates such as FatWallet.com, CouponCabin.com, and BradsDeals.com, which receive much of their commissions from sending customers to major online retailers.
How terrible is this? Very. Taxes cannot be doubled during a recession without very negative consequences. The State of Illinois refuses to make cuts that will balance its budget, instead trading prosperity today for a guaranteed poorer tomorrow. It is said that the income tax is temporary, but the last permanent Illinois income tax increase was done in absolutely the same way. In addition, Fat Wallet is already looking for a way to move out of the state, which is particularly a shame because it is located near Rockford, which is suffering miserably from high unemployment.
We won't even mention the dollar increase on a pack of cigarettes which will likely be good for consumers' health (it will encourage quitting), but could well be revenue neutral because of the quitters.
It remains theoretically possible that one day, the citizens of Illinois will wake up and demand better.