SPRINGFIELD – The Illinois Republican Party rolled out a new meme this week, targeting House Speaker Mike Madigan, who admitted to Chicagoans at the City Club of Chicago luncheon that he believes the state is in dire need of a 67 percent income tax hike, back up to the 5 percent level it held last year.
In the speech Wednesday, Madigan criticized Governor Bruce Rauner's desires to make structural changes in order to encourage more businesses to locate in Illinois. Madigan said yet again that Rauner's ideas were "extreme" while his were "moderate" and more acceptable for the state's future, and that nothing was more important than passing a state budget – one he plans to balance by hiking the state income taxes back to 2014 levels.
Listen to Madigan's speech and his responses to audience questions HERE.
We really do need a progressive tax a progressive pension tax that is. Did you see the articles this week in the Daily Herald where some teachers and judges make more on pension income then they did while they worked? Why should working teachers, judges and the rest of us pay taxes on income that is lower then those with pension income. Time to close this tax loophole.