Rich Miller, (Capitol Fax) Sun Times, "Vocal opponents of new tax are giving gov the business."
In a speech laden with fiery populist rhetoric and big business stereotypes, Blagojevich announced a plan to tax the gross revenue (instead of the net income) of every business taking in more than a million dollars a year.To make sure his message set in, Blagojevich blitzed most small business owners with taxpayer-funded mailers asking for their support. Bad move. It was like throwing a live cow into a shark tank.
The vast majority of businesses in this state don't gross a million bucks a year. But, hey, this is America. Every small business owner believes he or she has a shot at raking in a million dollars a year, and a whole lot more. A giant backlash soon followed and Blagojevich was forced to increase his proposed minimum taxation level to $2 million. But it was too little, and maybe too late.
Governor Blagojevich is determined to raise taxes one way or another. And Dem majority leader Mike Madigan, no friend of fiscally responsible voters, has another blockbuster billion dollar tax up his sleeve. Lake County News Sun (hat tip Illinois Review) :
The bottom line is Illinois needs to raise taxes, said Illinois House Speaker Michael Madigan, D-Chicago, during a public forum Wednesday at the College of Lake County's Lakeshore Campus in Waukegan.
"Before we finish our budget in May or June, Illinois is going to see a tax increase," he said.
During the forum, Madigan primarily focused on answering questions on education funding reform from the audience of about 75 people.
A House bill proposes increasing the state income tax rates to channel billions of dollars into public schools and cut property taxes. Commonly known as tax swap legislation, the bill would increase the personal tax to 5 percent from 3 percent, while lowering local property taxes that provide revenue for schools.
As the Illinois Review points out, Madigan doesn't need Republican votes to pass this job-killer and burden on families. We all know property taxes will rise again. And folks around here will have their income taxes raised and see even less for the schools from the state.
It's the one-two punch to Illinois taxpayers.
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