From our friends at the Illinois Policy Institute today comes a telling, telling chart with a brief report documenting what they, we at The Heartland Institute and many others warned of when Democrat lawmakers and the state’s Democrat governor early this year sent Illinois’ personal income tax rate soaring nearly 67 percent and the state corporate tax rate climbing 46 percent.
Here’s just a snippet from the report:
Illinois lost more jobs during the month of July than any other state in the nation, according to the most recent Bureau of Labor Statistics report. After losing 7,200 jobs in June, Illinois lost an additional 24,900 non-farm payroll jobs in July. The report also said Illinois’s unemployment rate climbed to 9.5 percent. This marks the third consecutive month of increases in the unemployment rate.
Illinois started to create jobs as the national economy began to recover. But just when Illinois’s economy seemed to be turning around, lawmakers passed record tax increases in January of this year. Since then, Illinois’s employment numbers have done nothing but decline.
See for yourself how Illinois employment was climbing until the tax increases and has been dropping at an accelerating rate ever since.
Democrats in Illinois share sole responsibility for this because they did it without a single Republican vote on the last day of the lame-duck session, shortly before new lawmakers would have made the moves all but impossible.