Wednesday, January 12, 2011

Escape to Wisconsin stickers back?

Well, the IL dead duck legislature, before leaving office in minutes, thumbed their noses at big business and individuals in the state. IL now reportedly has the highest corporate income tax rates in the industrialized world. Think about that a moment. So while WI has learned that the big government/high tax experiment of the past dozen years was an utter failure, IL is figuring that they can pull it off. Meanwhile, Caterpillar and most other large companies are lining up the moving vans to go somewhere else, anywhere else, to do business. You'd think that high unemployment problems would give the politicos pause enough to wonder how to get more jobs, not less.

And while IL kindly doesn't tax pensions or social security benefits to try and encourage retirees to stay in the snowbelt, they just bumped the income tax rate by 67%!! which is unconscionable.

Kiss new employment goodbye, which will certainly strip off all that new revenue planned by the tax increases. Oh, and did I mention, every state that has ever raised taxes to get new revenue, actually saw a decrease in revenue as a result? Yes. History means nothing to some folks. Who pretend to represent us.

So dig out those old bumper stickers, Escape to Wisconsin, where they are now open for business, which has become the new slogan for the governor and legislature there. They're on to something. IL isn't.