Friday, January 7, 2011

Here comes de Illinois Sucker Tax Men!

We blogged a day or two ago about the proposed Dollar-a-pack cigarette tax. Here is what's happening:
Proposed Tax Increase Bigger Than Expected
SPRINGFIELD (AP) — Top Illinois Democrats have agreed to push a plan that would temporarily boost income taxes by 75 percent and double cigarette taxes, Senate President John Cullerton said Thursday.

Illinois’ personal income tax rate, now 3 percent, would climb to 5.25 percent for four years under the plan Cullerton outlined. After that, it would drop to 3.75 percent.

That means someone who now owes $1,000 in state income taxes would owe $1,750 at the new rate
...

The tax on cigarettes, now 98 cents a pack, would jump to $1.98, Cullerton said. The money would be earmarked for education.


COMMENT
Educrats are ALWAY and forever, 24/7 developing new streams of income dependant only on the politicians they can buy. Aother, e.g.is the one-cent sales tax in Macon County (Decatur), Illinois.

No comments:

Post a Comment

POST COMMENTS HERE