TO GOV. PRITZKER: TAX CUTS, NOT TAX HIKES!

By on March 17, 2020   /   Latest  

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As Illinois inches closer to recession, Illinois Governor, Jay Robert “J. B.” Pritzker should look to the past to see how historical figures weathered similar crises. Unsurprisingly, tax increases are not a part of the solution.

In 1920, there was a much shorter depression than the one that started in 1929. In its initial stages, this depression was every bit as severe as the more famous one that would begin nine years later.

From 1920 to 1921, the estimated gross national product plunged 24% from $91.5 billion to $69.6 billion. During that same period, the number of unemployed people jumped from 2.1 million to 4.9 million or roughly 12% of the workforce. Home and farm foreclosures and bank failures spiraled, and calls for federal relief came from every corner of America.

Unlike Herbert Hoover and FDR, however, then-President Warren G. Harding had both the wisdom and the courage to resist these pressures. Harding understood that depressions were the unavoidable result of speculative bubbles created by monetary inflation.

There were no huge government bailouts to save failing businesses or banks, no grand federal make-work programs to employ the unemployed, no massive regulation of the economy to reign in the markets, stifle investment or impede trade.

To fight the recession, Harding called on Congress to dramatically reduce both taxes and spending. Federal spending was cut from $6.3 billion in 1920 to $5 billion in 1921 and to $3.2 billion in 1922. Federal taxes were also reduced from $6.6 billion in 1920 to $5.5 billion in 1921 and to $4 billion in 1922 with budget surpluses each year used to reduce the federal debt.

The results were astounding. By 1922, GNP had recovered to $74.6 billion and unemployment fell by nearly 50% to 2.8 million (6.7%)!

Today, Illinois stands on the brink of total economic collapse, and, yet, the Democrat Governor, Jay Robert “J. B.” Pritzker, has put on the November ballot an Income Tax Increase Amendment to the State Constitution that would saddle Illinois taxpayers with a huge state income tax increase.

The wisdom of Pres. Warren G. Harding is in very short supply in 2020. If Illinois is to survive as a viable governmental entity, taxpayers must send “J. B.” a message by voting down his November 3rd Income Theft Amendment. If that happens, hopefully our rotund governor will come to his senses and tell the state legislature that Illinois needs some badly-needed tax cuts.

Source:http://www.taxpayereducation.org/2010/06/warren-harding-and-the-great-depression-that-wasnt/

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ANTI-HOME RULE TAXPAYERS WARMLY RECEIVED IN WESTCHESTER

By on March 16, 2020   /   Latest  

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Click here to view our Westchester Vote No Home Rule Flier.

Westchester- Taxpayers handed out flyers in the Village of Westchester yesterday, informing voters of the dangers of Home Rule. 

“Its been a tough fight, but I am confident in a taxpayer victory in Westchester,” said Jim Tobin, president of Taxpayers United of America (TUA). “Every report I get shows residents fed up with taxes, and unwilling to deal with any more tax increases.”

“Home Rule is the mechanism bureaucrats use to unleash a flood of taxes on taxpayers. Home Rule removes Property Tax Caps non-Home Rule municipalities have, removes the right taxpayers have to vote on tax increases, and allows local politicians to create new taxes.”

“Moreover, we will start seeing municipalities begin to implement their own income taxes,” said Tobin. “The greedy bureaucrats in Chicago have found a way to use Home Rule to steal even more taxpayer money. If Chicago successfully lobbies Springfield for this power, it will allow every Home Rule municipality to pass an income tax.” “Thankfully, taxpayers are waking up to the heavy tax burden they pay to subsidize lavish government employee lifestyles. I am confident the majority of taxpayers will reject Home Rule on March 17, and will hold firm on any future tax increases like Gov. Pritzker’s Income Increase Amendment. This is the year taxpayers tell the tax thieves enough is enough.”

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Pritzker Needs To Give Emergency Relief To Taxpayers

By on March 13, 2020   /   Illinois, Latest  

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Chicago- As the Coronavirus known as Covid-19 sweeps over the United States, calls for Illinois Governor J.B. Pritzker to give emergency relief to taxpayers are escalating.

“According to basic economic theory, in times of crisis and recession, you cut taxes,” said Jim Tobin, economist and president of Taxpayers United of America (TUA). “Covid-19 is a crisis that will slow economic growth. The intelligent move for Pritzker is to ask the Illinois General Assembly to pass emergency tax cuts as soon as they are back in session and sign the bill immediately. Otherwise, we may see unnecessary hardship for Illinois middle-class taxpayers.”

“Businesses are already telling employees to stay home, or are closing entirely because of Covid-19,” continued Tobin. “I have also heard that bureaucrats are considering shutting down the Chicago transit system. If middle-class taxpayers are unable to work, they will have trouble paying their mortgage, let alone their property taxes.”

“Pritzker is always going on about a ‘fair tax’ on taxpayers. If Pritzker believes what he says, he will call for and pass emergency tax relief measures. Otherwise, Pritzker will reveal what he really is: a gangster kicking a man while he’s down, and stealing from him everything of value.”

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