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SPRINGFIELD, Ill. (CBS) – By a single vote, Illinois lawmakers approved a 66 percent increase to the personal income tax overnight, and soon, your paycheck will be shrinking.
In real numbers, if your gross income is $50,000 a year, your state income taxes will rise from $1,500 to $2,500 a year.
Originally posted by Libertygal
reply to post by Tgautier13
So the rich will bail, taking their pay and businesses with them, leaving a wake of unemployment behind them in the process.
The middle class, that can afford to, will bail because their jobs are gone.
The poor will stay and collect their never ending unemployment, and we will have Detroit Ghost Town all over again.
Kind of like the mass exodus from NY when their taxes went up. Smart people leave, the poor are left to suffer.
And where do they go? Red States. How... odd.