Well, we got what we asked for. Pat Quinn campaigned on the basis of an Illinois income tax increase and he delivered on his campaign promise.
Never mind that the initial talks were for a temporary 33% increase. Much too low! But our valiant politicians fought to keep it down from 75%! Or was that the rhetoric to make us happy with a mere 67%?
I personally feel better that Mr. Quinn has his raise covered. I feel really good that there will now be enough to pay his wife her share of his pension when he sheds this mortal coil, assuming that she outlives him, as is the actuarial norm.
Now, if only businesses would hire more people to keep from paying that higher income tax rate, we should be all set.
Spend and tax, spend and tax…yahooooo!