Illinois saw its overall credit rating increase from BBB with a positive outlook to BBB+ with a stable outlook this year. Although the state saw an upgrade, it still have the worst rating in the country.
The state of Illinois will only improve their credit rating by continuing to pay down its debt and by raising more revenue. All the Illinois voters that complain about the rating should start supporting tax increases.
Let’s raise the income tax rate to 6.5%. Take that extra 6 billion per year and pay down the debt faster. If you don’t want to raise taxes then perhaps identify where you can legally cut 6 billion per year of the budget.
If you can’t get on board with one of these then quit your complaining.
The flaw in your argument is, if history is a guideline, raising taxes 6.5% won’t go to the deficit but rather into new vote buying programs for the Chicagoland Democrats.
Not complaining, we got out of IL. Let the whole budget go to pensions, fine with me. Going to happen anyway.
Old Spartan
3 years ago
But our media lets the Gov, Comptroller, Lori and Preckwinkle get away with bragging about the “substantial” progress they are making on the state’s finances. Can’t anyone in the Land of Lincoln read what folks outside the State say about conditions here? Maybe not. When you look at the State’s own report on public education, when so many students can’t read at grade level, what is the likelihood that Illinois adults can read a financial analysis like this?
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
The state of Illinois will only improve their credit rating by continuing to pay down its debt and by raising more revenue. All the Illinois voters that complain about the rating should start supporting tax increases.
Let’s raise the income tax rate to 6.5%. Take that extra 6 billion per year and pay down the debt faster. If you don’t want to raise taxes then perhaps identify where you can legally cut 6 billion per year of the budget.
If you can’t get on board with one of these then quit your complaining.
The flaw in your argument is, if history is a guideline, raising taxes 6.5% won’t go to the deficit but rather into new vote buying programs for the Chicagoland Democrats.
Not complaining, we got out of IL. Let the whole budget go to pensions, fine with me. Going to happen anyway.
But our media lets the Gov, Comptroller, Lori and Preckwinkle get away with bragging about the “substantial” progress they are making on the state’s finances. Can’t anyone in the Land of Lincoln read what folks outside the State say about conditions here? Maybe not. When you look at the State’s own report on public education, when so many students can’t read at grade level, what is the likelihood that Illinois adults can read a financial analysis like this?