By: Mark Glennon*

Hat tip to the Chicago Tribune’s Kristen McQueary for putting this on Twitter. Read this and guess where it’s from:

Hours after Illinois lawmakers chose a major tax rate increase to ease this state’s desperate budget crisis, questions lingered…. Would new income and corporate tax rates stunt the growth of businesses and jobs here and, in turn, slow the already stalled revenue picture that has struck so many states? Would the state’s tax package, which is expected to raise about $6.8 billion annually, be enough to solve the state’s crisis, which includes a vastly underfinanced pension plan?

It’s from the New York Times in 2011 about Illinois. The answers even then were obvious.

*Mark Glennon is founder of Wirepoints. Opinions expressed are his own.

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3 years ago

Get the hell out of Taxistan. I voted with my feet 20 years ago. Best financial decision I ever made!!!

bob fairfield oh
3 years ago

And here I am, reading from afar as I get ready to sign a lease on an apartment since I sold my condo and am getting out of IL. It only took Cullerton a few days to suggest the increase wasn’t enough and more tax increases might be needed. Between him and the evil leprechaun my pockets will be inside out.

3 years ago

Many hung on in the hopes that Rauner and the (formerly) growing republican membership in the statehouse could at least slow the madness down. The exodus will now ramp up to unbelievable levels, and tax revenues will drop like a stone. Tennessee is sure looking good to this life-long Illinois resident.

3 years ago

It’s over for Republicans in Illinois as well. But, sweet times for crony capitalists of any party