ILLinois: State Senate passes 67 percent tax hike

The Democrat spendthrifts in the ILLinois state Senate passed a 67 percent (Thanks, Cal Skinner, rounding up gets you to that amount.) The corporate tax rate goes up by 46 percent.

Look for lots of packed moving vans leaving the state.

Governor Quinn says he will sign the bill with the new tax rates.

Instead of paying a 3 percent income tax, Illinoisans will fork over 5 percent of their income to the sinkhole in Springfield. Businesses, also known as job creators, will see their tax rates jump from 4.8 percent to 7 percent.

Are spending cuts part of the deal. Are you nuts? This Illinois. Spending is capped at 2 percent growth. Or is it?

But Republicans are quick to say that the 2-percent spending caps come after a 10-percent increase in state spending. Gov. Pat Quinn's budget office says state spending in the current budget is $33.5 billion.

GOP leaders also point out that the 2-percent cap builds upon itself. Even with the spending cap Illinois government will grow nearly 17 percent in four years, they said.

Medicare reform and the renogiation of state employee pensions are not part of this package.

Most of the personal income tax increase is temporary. But the Quinn and the Democrts will be looking make it permanent eventually. I guarantee it.

Illinois is run by spending addicts.

In each chamber, the tax bill passed with the minimum number of votes.

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