May 29, 2012

How This All Ends

If you want to vote for Barack Obama this fall, first you need to take a look where tax and spend has taken his home State of Illinois.

Illinois sacrificed paying its bills on the alter of tax and spend politics. This year another round of tax and spend is before the legislature of the state with the worst credit rating in the nation.

Sixteen months ago, Democrats pushed through the largest income tax increase in Illinois history, an unpopular decision that was billed as a crucial step to put state government on the road to financial recovery.

Yet last week lawmakers made deep cuts in health care for the poor, and this week they face tough votes to raise the cigarette tax, strip away public worker pension benefits and slice spending on social services. Despite all that, the giant pile of unpaid bills that has loomed over state government for years is expected to keep growing.

So why didn't the roughly $7 billion more a year the state is collecting from that income tax hike fix Illinois' money problems?

Its simple really in Illinois tax hikes are used to make the minimum payment on more debt, to finance more spending. Its like the old cocaine monkey, I tax more so I can spend more so I can borrow more. And over and over it goes.

The real kicker is that every time Illinois welfare state goes to the well its on the backs of those Democrats claim to help. The poor, those on fixed income pensions. The declining tax base of smokers. Oh of course they will claim the cigarette tax is for the children but its really about the money. But it won't make much money because many smokers will buy their tobacco in a lower tax state, and their gas, and their groceries. And the revenue will fall again. They are taxing themselves right into bankruptcy court.

What has happened is that the State is now a wholly owned subsidiary of Chicago Democrats, by Chicago Democrats for the Organized Chicago Democrat Community.

I'd be somewhat receptive to the argument that the pensions are too generous except its like a mortgage holder complaining his payments are too high so foreclosure is unfair when he never made the first damned payment. How can you complain now about the hole you dug skipping the payments entirely?

What this is about is robbing people who worked all their lives to pay for housing, healthcare and food for the masses of those who never worked the first day except for election day when the community organized bus arrives to take them to the polls.

You hear about Greece being a huge financial risk every day, but what about the news that Obama's home state with one of the top five largest economies in the nation stands on the edge of bankruptcy. What will it do for our national economy when Illinois finally succumbs to its fiscal problems?

By Howie at 07:38 AM | Comments |