Posted by: thescoundrel | January 7, 2011

the Bankruptcy Stroll

According to articles on QCOnline – the State of Illinois legislation has decided to attempt to tax their way out the current financial crisis.  No real surprise there. According to the articles, included in the coming new taxes will be a state  tax placed on purchases from the Internet, a 75% increase in the personal income tax, and a dollar per pack tax increase on cigarettes. With the reelection of Quinn and the retention of power by the “same old-same old” spendthrift legislators in the State of Illinois, it was inevitable that citizens would be looking at tax increases to pay for their tombstone voting reelection process, in Chicago. Quinn and the Big Government spenders in the Illinois legislation have created such a financial crisis – higher taxes is probably one of the few options available to make themselves look  proactive. But perhaps the killer tax listed in the article was the intent to raise corporate taxes  to 8.4%,  and that does not even take into account all the other hidden taxes, financial expenses and regulations the State will impose on a business. The Legislators  have learned nothing from past mistakes. This State has been bleeding high paying industrial jobs for decades. And the leadership has only been able to attract mostly a scattering of low paying service industry jobs to replace them. You have to shake your head at Quinn and the State Legislators when you see them decide to make the business climate even more intolerable for current and potential new corporations. Just more “Stupid is as Stupid Does” governing from the State of Illinois. California here we come – doing a hand-in-hand  bankruptcy lovers stroll.


  1. Ya gotta give Quinn and Verschoore credit—they both campaigned for higher taxes, and now that they won the election, they have made good on their promises.

    It always astounds me that these Dim seem to REALLY believe higher, bigger, and more taxes will save the state, rather than bring on a whole lotta unintended consequences—ALL negative.

    Illinois already has one of the highest corporate taxes in the country—do the Dims think this is a good way to draw more business and jobs?

    Amazon has already put Illinois on notice that if this tax goes through, they will no longer sell to anyone with an Illinois address.

    $1 more on ciggies? Iowa and other border states must be high-fiving each other—if states had “five”. 🙂


  2. [Ya gotta give Quinn and Verschoore credit—they both campaigned for higher taxes, and now that they won the election, they have made good on their promises.]

    A huge “Stupid is as Stupid does” trophy belongs to the voters of Illinois that voted this group of spendthrift money-changers back into power.

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