No other state has successfully raised income taxes to balance its 2011 budget, according to the
National Conference of State Legislatures in
Washington. Most states have
turned to less politically risky measures to shore up state budgets, such as raising sales taxes for vending-machine purchases or delaying corporate-tax refunds for a year.
The financial crisis in Illinois is unusual. The state had no choice but to raise taxes.
Cutting spending was not a viable option because already, major cutbacks had been made and spending is at a historic low. Then there is the
debt: The state already owes $8 billion to vendors.
Illinois is one of only a handful of states that still operate with a flat-rate tax standard regardless of income, according to the National Conference of State Legislatures. Even with the 2011 adjustments, Illinois would have one of the lowest tax rates in the nation, but the rates across the US are hard to pin down because most states, such as
Iowa, have up to nine different tax rates for personal income.
“In terms of taxable income, it’s not always an easy comparison to make [between states],” says
Arturo Pérez, a fiscal analyst with the organization.
http://www.csmonitor.com/USA/2011/01...ncome-tax-hike
Can you explain how "high taxes" from "Illinois Democrats" caused layoffs in Texas and all over America, loser?
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