Death to the rich

Thanks to Zach for sending me this....

Illinois will ask voters whether they would like to double the state income tax for the evil rich people making over $250K. As the article says, this will affect only 5% of the population and so should pass easily.

Here's what will happen when this passes

1. Many people making $250K will leave Illinois and go to places where they are more welcome...Texas, Nevada, New Hampshire, Tennessee come to mind, each of these states has 0% income tax. Then instead of getting an extra 3% from the $250K, they lose the original 3%. Not only that, the state loses hard working, productive people who most likely run businesses and employ other Illinois citizens who will no longer pay any income tax themselves and have to go on the public dole instead.

2. The rich will figure out ways to shelter more of their income to avoid the new income tax. Either shelter or not declare in which case even the original 3% is not paid once again. And neither is federal income tax since if the income is hidden from Illinois it is hidden from Uncle Same as well.

3. About a year or two from now, the threshold for "rich" will be dropped to $200K and those making over $200K will behave in the same way as the $250K+ crowd (see #1 and #2).

Illinois is the Land of Lincoln. Unfortunately it is also the land of Hillary Clinton, the land of Barack Obama and the land of Dick Durbin. It is also the land of the most corrupt city government in the country.

So expect this plan to pass with about 93% of the vote.