Commentary

Taxpayers to Congress: Keep Debt Limit, Cut Military Spending

Click here to view this TUA Comment as a PDF.
At the most recent national election, heads rolled in Washington and candidates for both chambers of Congress were elected who purported to be fiscal conservatives. Now these newly-elected public officials must show some backbone and make good on their campaign promises…if they are to keep their heads.
More than 40% of federal spending is borrowed. This year, the federal budget’s deficit is estimated to be more than $1.5 trillion. The easy way out is to increase the federal debt limit and borrow more, which is favored by Washington’s perennial spenders. The less popular but more desirable action would be to cut federal spending, balance the budget, and make way for real tax cuts. Read more

Springfield Democrats Want To Raise Illinois Corporate Income Tax To 10.9%, Making It The Highest In The Country

CHICAGO–The Illinois corporate income tax rate is not 4.8% as some politicians and media writers have erroneously reported, but actually 7.3%. While the base rate is 4.8%, a constitutional amendment passed in 1980 added another 2.5%. This additional tax was named the “personal property replacement tax,” but no matter what they call it, it’s still a statewide corporate income tax.

“Senate President John Cullerton (D) is now saying that he wants to raise the state corporate income tax rate from 4.8% to 8.4%,” said Jim Tobin, President of National Taxpayers United of Illinois (NTUI). “What Cullerton fails to mention is the added 2.5% personal property replacement tax, which would actually make the state corporate tax 10.9%.”

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Springfield GOP Key To Killing 75% State Income Tax Increase

Led by House Speaker and Chicago machine boss Michael Madigan and Gov. Patrick Quinn, Illinois Democrats are about to commit political suicide by voting for a gargantuan 75% state income tax increase. Unless the Republicans learn from their own mistakes, Illinois taxpayers will likely find themselves subject to a state income tax increase that will further damage Illinois’ depressed economy.

The largest tax increases in the history of Illinois were the work of Springfield Republicans, not Democrats, and the repercussions were profound for both the GOP and Illinois taxpayers.

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Taxpayers United Of America: (TUA). is a nonpartisan, 501(c)(4) taxpayer advocacy group. Founded June 27, 1976 in Chicago, Illinois by activist and economist Jim Tobin, TUA works on behalf of taxpayers to reduce local, state, and federal taxes. In the past forty years, TUA has saved taxpayers more than $200 billion n taxes and has become one of the largest taxpayer organizations in America. Check All posts. s.

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