After Increasing Income Taxes By 67% Illinois Is Still $8.5 Billion in Debt
Posted by Jim Hoft on Friday, January 20, 2012, 4:53 AM
Liberal policies at work…
Illinois is still $8.5 billion in debt after raising taxes last year by 67%.
CBS Local reported:
Illinois keeps falling farther behind on its debt.
As WBBM Newsradio’s Regine Schlesinger reports, officially, the state has a backlog of more than $4.25 billion in unpaid bills.
Illinois State Comptroller Judy Baar Topinka says when one factors in other bills, the figure is closer to around $8.5 billion.
Those other outstanding bills include tax refunds, employee health insurance, and bills that have not yet reached her desk.
Topinka says this is extremely disappointing, since a year ago, the state sharply increased income taxes (by 67 percent) and corporate taxes.
The people are fleeing the liberal state.
A stunning new report by the Illinois Policy Institute revealed that Illinois lost one resident every 10 minutes during the past fifteen years.
Part of the problem is that 14,866 Illinois Teachers made over $100,000 last year including a Physical Education teacher who made $203,154.
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Published May 23, 2012 at 4:57 am - 64 Comments
Atlanta Media Guy commented:
It’s an Obama world! He helped put Illinois in debt and now he’s doing the same at the Federal Level.
Jess commented:
This is a surprise?
I belive the average person hasn’t a clue (and I’m blaming media here, not the people) as to the actual spending at all levels of government. Try following the Wisconsin idiocy – the latest is that tax increases could’ve staved off spending issues – but seizing the assets of every multi millionare in the state would still leave Wisc. at a loss. People just don’t know how much $ is being spent!
Evil Otto commented:
“Oh there’s a big surprise! That’s an incredible – I think I’m going to have a heart attack and die from that surprise!” -Iago
http://www.youtube.com/watch?v=wxlhyX-4qKI
Finncrisp commented:
Chicago has an almost 10% sales tax with all the extras the mayor’s office adds on. THe stranglehold that the politicos have in this one party city is unfathomable. You would have to live there to understand how corrupt it really is. as Chicago goes, so goes the state. And gas has an extra surcharge in Chicago as well. That with the taxes to run a business , you add 30 cents a gallon to gas in the city.
The solid Demomarxist gulag of illinois is geeting just rewards.
JenBee commented:
#2 Jess… you are so right on point. And yes, I also blame the media. What a disservice they are doing to this country, all in the name of promoting socialism and pie-in-the-sky progressive ideas. Tragic.
Cutlers bad Thumb commented:
Obama, Dickie Durbin, Rahm Emmanuel,Val Jarrett,The Jackson 2 jr &sr, stroger etc..etc..etc, What possibly could go wrong ?
And morons out there wonder why our country is so screwed…..DUHHHHHH.
bobdog commented:
Gas is $3.79 a gallon here in Cook County, among the highest in the country, tolls just doubled, Income Taxes just went up by 67%, sales taxes are among the highest in the country, property taxes are still going up despite a nearly 30% drop in property values, Chicago unemployment is nearly 25%, the inner city is still a sh*thole, state bills go unpaid…
The only people in Illinois who are getting rich are politicians, and almost all of them are Democrats, because there are no Republicans in Cook County politics.
We’re racing California to the bottom, and it ain’t gonna change.
Shawn commented:
Their numbers are a lie. It’s much more. CA is the same way.
Mark Adams commented:
Another reason they are still in debt is they used the excuse to raise taxes to pay the debt, but then BORROWED the money to pay half the bills. Quinn’s an utter tool!
Holder's AK-47s kill Mexicans commented:
Wisconsin, Indiana, Iowa, Missouri, and Kentucky are going to need border fences and strong immigration policies. If it were up to me, I’d only let the productive in. I would have my border security agents be on the lookout for escaping democrats and union members. Having such ne’er do wells in my state would bring the same destructive forces they used in Illinois to my state.
The Elector of Saxony commented:
Well at least their schools must be shining palaces where every child can perform calculus, read and write Latin and Greek, play the violin, and has the entire Shakespearean canon memorized. What’s the average SAT? Gotta be 750 verbal and 750 math. The Left tells us that the more we pay teachers the better off our children will be. If illinois pays that well, the schools must be approaching perfection.
crackermike commented:
RE: 10. Scum always migrate to the area that provides the most free stuff. I don’t understand Obama’s problem, why doesn’t he just print billions of $100 bills and hand them out on street corners? Then EVERYONE would have plenty of money. Problem solved. (sarc off).
ShamingCommittee commented:
Too bad IL can’t tax the dead who vote.
mamagriz68 commented:
We got out but my husband still does most of his work in IL, so we still have to pay the taxes. However, we do not buy anything over there, and wouldn’t you know that we now have a house and yard twice as big as what we had in IL, but our property taxes are a little less than what we paid there? I also heard on the radio recently that since IL nearly doubled tolls on the toll roads at the beginning of Jan., they are experiencing a drop in drivers using those roads (and revenue). Those are the same toll roads that I’ve been hearing all my life were going to become freeways soon. All those great Dem ideas work so well, don’t they?
Dwayne the canoe guy commented:
They raised taxes by 67%, but how much did the revenue go up? That should be the real question.
Carbon Pootprint commented:
Contain the cancer, They made their bed now sleep in it. Eff em
RedBeard commented:
The rest of Illinois should seceed, and leave Chicagoland to fend for itself. Or engineer an earthquake that would send Chicago and its suburbs to the bottom of Lake Michigan. The problem is in that relatively small patch of real estate on the shore of the lake.
I was raised in the Chicago suburbs, in the area which has gone totally nuts by electing and re-electing ultra-leftist Jan Schakowski to Congress. What a shame that a once-nice area has lost its collective mind.
obfuscatenot commented:
“A stunning new report by the Illinois Policy Institute revealed that Illinois lost one resident every 10 minutes during the past fifteen years.”
I believe it’s TAXPAYERS that have fled- not residents BIG DIFFERENCE. According to the 2010 Census, Illinois gained residents.
David Kramer commented:
No surprise here. I remember my course in business calculus, when you raise prices it causes a reaction to your profit. This can be used as a base for taxes and government income. When you raise taxes, it causes a drop in the aggregate economy due to businesses and people attempting to avoid those taxes.
It never ceases to amaze me that politicians and leftists do not know this very basic tenet of mathematics and economics.
Not really surprising though, they are clinically insane IMO.
pmb88 commented:
Gee what a surprise. I did not know that raising taxes would cause such a thing.
Too bad I cant move from chicago.
Jess commented:
#19, Ill. population up 3.3% over the past decade while the US population was up 9.7%.
Here are some other interesting Ill. #s for 2005 – 2010:
Degrees (all levels): down almost 3%
Home ownership: down 3%
HS grads: down 2%
Per capita income (households): down $1000/year
Private (non farm) employment percent change last decade: DOWN 6.9%
It’s not getting better any time soon…
Patty commented:
Need more Governors like Chris Christie. He is lowerering taxes in his state. Seems with a smart mind and a responsible state government this could have happen in Illinois. But the corruption is Obama’s state is overwhelming, this is a fact.
So, to all the naysayers, corrupt politicians don’t care about the well being of the public but them selves.
MarkJ commented:
Question: When does a Democrat know his legislation has succeeded?
Answer: When it fails.
MarkJ commented:
Proposed solution to the woes of Illinois:
Detach Cook County from the rest of the state and declare Springfield a “free fire zone”.
Peggy R commented:
Yes, the media under-reports all this. The Belleville ND is disgracefully lacking in news on IL govt.
At the same time, Quinn expanded the EITC. There’s an editorial he “wrote” in the BND today justifying this. The rest of us must pay up, to fund this welfare state.
squeaky commented:
there was a method to jesse jackson’s thinking. $800 b to illinois and the remainder to…..
http://rebelpundit.com/2012/01/17/jesse-jackson-jr-feds-should-bailout-failed-states-cities-and-counties-for-a-mere-900-billion-in-taxpayer-money/
Zim commented:
They borrow money to pay the debt, but then like any good liberal they find a way to spend even more money.
bear commented:
When the original Mass. colony almost failed (many starved to death), the folks CHANGED their ideology in order to have HOPE for survival through the next year.
In IL, they hope that the “Golden Goose” will have eternal life. Apparently they can’t read well enough (hat tip to the teachers union) to discover the INEVITABLE conclusion to their ideology. They REFUSE to change, even to save their own ” ‘hoods”.
mg4us commented:
Leave it to the tax & spend liberals & DemocRATs. . .they raise taxes so they can keep spending more & more & more. . .
Let them turn their state into another Detroit. . . a barren wasteland.
It’s an Obama-nation! Economics according to Allinsky!
topcat128 commented:
Happy I don’t live in Illinois. All I can residents there, move if you can. Things are going to get a lot worse.
befuddled commented:
“Illinois and other states are heading down a road to financial ruin. At some point tax increases are clearly required. These lame duck legislators were in a perfect position to do what was necessary without having to fear political payback. In the long run the citizens of Illinois may very well look back and thank then for their action.”
“I applaud the courage of these fiscally responsible state leaders. I hope this action will be judged as respectable governing. We receive great benefits from our taxes. Our infrastructure, schools and social services are worth saving. ”
“If this gets the state finances looking good again in 3 years, its going to be wonderful.”
I just like reading the NY Times from about a year ago to see what all the supporters of the tax increase had to say. Also, let’s not forget:
CHICAGO (WBBM) — A number of Wisconsin Democrats are hiding out in Chicago, making a stand against a Republican plan to balance the state budget by cutting the pay, benefits and collective bargaining rights of public workers.
That’s fine with the Illinois Gov. Pat Quinn. He says the Wisconsin Democrats are welcome to stay here until Wisconsin Gov. Scott Walker, in Quinn’s words, “comes to his senses.
tommy mc donnell commented:
there is no limit to the greed of the modern american politican. they are all running around with an unlimited credit card that has to be paid off by the american worker. why worry about the bill when somebody else has to pay for it.
and all the supposed protecters of the working man(union leaders)do is lead the cheers for higher taxes.
Molon Labe commented:
The problem is that the people who created this stinking mess will flee and then start to recreate it in other states that are normal. Wee need to build an abrrier around Illinois and e4specuially Chicago so no one can spread the virus of big spending, big taxing idiots.
Duke C commented:
Molon Labe #36: You got that right . I watched Colorado get invaded after the Rodney King riots by the Cali lib tards, once a profitable state where the Marxist Cult was contained within Boulder/Aspen area. Now we have a name for it: Californikation. Denver is the political power of the state and its a 50/50 balance of power, in play for Obama in 2012.
Blue Hen commented:
This is not happening. We’ve been told by our betters that hiking taxes has nothing but wonderful consequences. Therefore, this cannot be happening.
The EU is not swirling the bowl. They have low defense spending, high taxes and a wonderful array of social spending. Therefore, they cannot be having any problems.
California is not boned. We’ve been told by our betters that hiking taxes and taking one for the team (unions) is a great idea. Besides, they have Gov. Moonbeam riding to the resuce (via high speed rail no less) to save them. Therefore, they cannot be having any problems.
Libby McLibtard commented:
Some problems are quite easy to solve.
First let me say that, handing out $100 bills would never work. We need to hand out $500 bills. Then we need to create hundreds of thousands of GOVERNMENT GREEN JOBS.
Every able bodied dead beat in Chicago gets a $200,000.00 GOVERNMENT GREEN JOB!!!
Think of all the income tax!!!
Problem solved. I had better call Quinn and Emanuel, they are going to be sooooo happy.
Libby McLibtard commented:
More taxes equal UTOPIA!!
Economan commented:
Only a dumb-ass liberal would see the failures of raising taxes and think it’s still a good idea. Incredible.