I watch and
wonder.
The incoming
governor was quoted during the
campaign saying he would need to raise taxes in order to balance a debt-ridden
budget, add money to a state pension system which is 100-billion dollars underfunded,
add new programs and fund higher education.
He was
pretty vague on how this wizardry was going to happen. And, quite honestly the
words “fiscal restraint” weren’t part of the incoming Governor’s campaign. I
can’t find him ever mentioning cutting anything in state government.
Let’s be
clear----there is no way heavier taxes on just millionaires can cover J.B.
Pritzker’s campaign proposals. Taxes will have to be raised on everyone.
Because if he starts soaking the richest folk in the state to fund his
dream….they will soon become residents of Texas or Florida.
The Illinois
Policy Institute estimates Pritzker will have to raise $10-billion new dollars
to fund his promises. If that becomes tax increases to all of us….even the
non-millionaires among us….we will continue to see the exodus from Illinois to
other states. And you will not entice one new business owner…or one new job
into Illinois.
Illinois is
on the brink. With the possible exception of California, it is in the worst
financial shape of any state in the union. You can’t tax your way out of that
fact. You have to inspire growth.
I know what
I will tell my representatives in Springfield. In the words of a former
president---“Read my lips, no new taxes.”
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