Here’s a tough pill to swallow: Illinois boasts the highest tax burden in the Midwest, and near the highest nationwide. Many of these taxes have been implemented or raised by politicians to try and help relieve the burden of the Illinois government’s over-the-top spending and deep deficits.
There’s no simple solution, but the causes of this exodus are pretty apparent. If legislators can’t find a means to create more economic opportunity and a more stable budget, the entire state could eventually find itself in a death spiral.
Here is a breakdown of what House Bill 5432 means and who it benefits and on the adverse, who it doesn’t.
Illinois has not had a properly balanced budget since 2001, but a lax budget is not the reason behind their overall financial crisis. The root of their financial crisis is misguided spending priorities.
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