Have a safe and happy Memorial Day! more ›

Yes, even in Illinois - state motto: "We tax the shit out of everything" - there's always room to raise taxes. This morning, the Tribune is reporting that Governor Quinn is considering a plan that would raise Illinois' state income tax by half, from 3 percent to 4.5 percent. According to the Trib's source, such a hike would also include a hike in the corporate income tax on businesses, but would be softened by raising the standard $2,000 tax exemption to $6,000. If implemented, it would be the first income tax hike for Illinois in 20 years; the rate was raised from 2.5 percent to 3 percent in 1989. Critics suggest Quinn will have to tread carefully lest he severely damage his chances in 2010. Quinn is due to present his budget plan to the state legislature next Wednesday. more ›

In the state where we tax the shit out of everything, there's a new gas tax proposal just waiting to raise our ire. State Senate President John Cullerton and Speaker of the House Mike Madigan are co-sponsoring a bill that would raise the tax on a gallon of gas to 27 cents a gallon; motorists currently pay 19 cents a gallon. The reason? To help fund "Grow Illinois", which would pay for debt services and capital improvements the wake of the state's budget shortfall. Another co-sponsor, State Rep. Luis Arroyo, (D-Chicago) said, "No tax for the taxpayers of Illinois is easy. We need infrastructure and we need jobs. Everybody's crying for jobs. There's a lot of people getting laid off. We have to do a capital bill." That raises taxes on people who can't afford to travel to their jobs as it is? more ›