Tax increase would have negative effects
Sunday June 28, 2009
Over the last several weeks, there has been an unending series of articles and letters on the dire effects of the cuts proposed to get Illinois' budget in balance. In this span, I have seldom if ever read of the negative consequences on the Illinois economy and taxpayers if the income tax is increased.
Illinois' unemployment rate passed 10 percent in May. The county is increasing the sales tax and the utility and water companies are bent on raising our rates again. Do we need a 50 percent increase in our state tax rate in this economically stressed period?
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