WHAT?! This is crazy!
Times are tough all over, but yesterday, lawmakers in Illinois made a pretty drastic change in policy when they passed a new bill that increases the state’s personal income tax rate by an astounding 66%.
To date, this is the largest tax increase any state has approved during these hard economic times. (Don’t be getting any ideas, California.)
According to reports, this isn’t so much of a shock, considering the state’s had its “back against the wall” for a long time and really had no other choice.
But geez! 66%! That’s so ridiculously high! How are people going to be able to afford that?!
Wow. Sad.
Jan 13, 2011 11:10am PDT
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