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

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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/

Pritzker Needs To Give Emergency Relief To Taxpayers

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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.”

JAIL PRITZKER, FREE TAXPAYERS!

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Ill. Gov. Jay Robert  “J. B.” Pritzker, the corpulent con-man acting on behalf of Chicago’s Democrat political machine, could find himself sharing a jail cell with former Ill. Gov. Rod Blagojevich as a result of a federal criminal investigation into a dubious residential property tax appeal, according to WBEZ Chicago Public Radio.


It seems that Pritzker, his wife and his brother-in-law are under federal criminal investigation for a dubious residential property tax appeal. According to WBEZ, the probe, which has not been revealed publicly until now, began last October and remains active.


The billionaire Pritzker and his wife may face a serious legal threat arising from their controversial pursuit of a property tax break on a 126-year-old mansion they purchased next to their Gold Coast home.


According to the WBEZ report, a Cook County inspector general’s report found Pritzker directed workers to remove all toilets from the mansion in order to have it declared “uninhabitable,” which gave the Pritzkers a huge property tax break. The report also found that the governor’s brother-in-law, Thomas J. Muenster, made “false representations” on tax appeal documents. That amounted to a “scheme to defraud” taxpayers out of more than $331,000.


The Chicago Sun-Times published news of a confidential memo from Cook County Inspector General Patrick Blanchard. The report found the Pritzkers had caused the residence they had purchased next to their home to fall into disrepair, in part, by removing its toilets in October 2015 in order to lower the home’s property taxes by having it declared “vacant and uninhabitable.”


On that basis, the Pritzkers’ lawyers persuaded then-Cook County Assessor Joseph Berrios’ office to lower the home’s market value from more than $6.25 million to slightly less than $1.08 million. That ultimately led to a dramatically lower property tax bill for the mansion.


“It’s ironic that Pritzker allegedly planned to defraud taxpayers out of more than $331,000 for his benefit while he is pushing to change the state income tax to a graduated income tax,” said Jim Tobin, president of Taxpayers United of Illinois (TUA). “Pritzker’s graduated income tax increase amendment would steal billions from the state’s most productive citizens to fund lavish, unnecessary government pensions.”


“This man has no conscience. The way things are going, he may end up in a residence provided by the state, and he won’t have to worry about property taxes.”