Thursday, March 07, 2013

Illinois Shows - "Popularism Is NOT Economic Policy" - Where Did The Tax Increase From Last Year Go?

After A $10 Billion Tax Increase Last Year By The State Of Illinois - The New Budget Still Has A Massive Budget Hole.

Chicago News and Weather | FOX 32 News

We know that "Austerity Cuts" don't work.  Why don't we hear the same people about a "Tax Increase That Got Consumed By A Voracious Spending Furnace"?

NOTE: I believe that ALL AMERICANS are going to have to pay more taxes AND expect let in the way of services from the government - as a necessary means of restoring the fiscal and structural integrity of the US economy.

My argument is that many people put up a fraudulent supposition:  "We tried austerity cuts after being promised that they would turn the economy around. "   Yet they can't bring themselves to entertain the larger point:  "The ORIGINAL PROMISES (in the case of Illinois - pensions) are in excess of what the state is able to fulfull.  This is a crisis and something needs to be reconstructed beofre the state's credit rating is harmed even more.

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