Illinois Passes $5 billion Tax Increase
Politicians are famous for promising a lot, but delivering little. In Illinois, politicians have promised far more than they can deliver. Unfunded pensions are destroying Illinois. The problem is not new. It has been known since the 1990s, but, of course, the can was kicked down the road.
Illinois just passed a $5 billion dollar income tax increase, which won’t solve the problem, but will allow the can to be kicked a bit further.
[ot-video type=”youtube” url=”https://youtu.be/otxSujqWDSU”]
I say it won’t solve the problem, because that $5 billion tax increase has already caused individuals and families to begin leaving Illinois. Businesses will follow suit, soon, leaving fewer people to carry the load of bloated pensions and political mismanagement.
[ot-video type=”youtube” url=”https://youtu.be/-SmBHx6_M-Y”]
Illinois is not alone, of course. California and Connecticut are both total messes, and there are other States that will soon be in trouble. The two morals to be learned are: 1) Don’t kick the can down the road, as it only makes things worse. 2) Don’t make promises you can’t keep.
There is an old saying, from Mark Twain, I believe: How can you tell a politician is lying? His lips are moving.