The State of Illinois

By Sean Stillmaker in News on Mar 27, 2011 4:45PM

Illinois has proudly taken the title of the most deadbeat state in the U.S. We elect the best grafters and swindlers to positions of power and love wondering why it’s become so bad. With the latest numbers in from the Census Bureau, Illinois tax revenue declined by $2.2 billion in 2009-10. So, like any fiscally responsible leader the state increased it’s spending by $1.8 billion.

Taxes and tickets are the government’s favorite plan to bring in revenue. The personal income and corporate tax hike enacted earlier this year is estimated to bring more than $6 billion annually. But you have key businesses like Caterpillar, a company with a $2.5 billion annual revenue, on the verge of leaving because, “Illinois isn’t favorable to business.”

So forget businesses, what do we need them for. Legislators love making money on people’s vices. We have the cigarette tax on deck, but even better is the prospect of more casinos. Illinois’ 10th casino, The Rivers Casino, opens up in Des Plaines this July making it the first casino accessible by CTA. But the legislators want to expand gambling entirely. They want an upward number of 20 casinos operating in the state and a land based one in Chicago. The gambling expansion bill just passed a house committee.

Stimulus money runs out in June. While the state’s municipalities have consolidated and done more with less, the state as a whole continues to spend more and not pay down our $100 billion (when factoring in pension responsibilities) debt. The period of extending and pretending is coming to a close.