“House Speaker Michael Madigan is proposing cutting Illinois' corporate income tax rate in half in an effort to improve the state's business climate. The powerful Chicago Democrat introduced legislation Thursday that would cut the rate from 7% to 3.5%, effective Jan. 1, 2014. In a news release, Madigan says he hopes the cut ‘will encourage CEOs to grow their work forces with good paying jobs.’ Democratic lawmakers in 2011 approved a temporary tax hike as a way to address Illinois' fiscal crisis. It raised the corporate income tax from 4.8% to 7%. The increase is scheduled to be rolled back to 5.25% on January 1…”
Because Illinois citizens are victims of today’s state politics that have created an unethical “winner-take-all” economy for wealthy egomaniacs at the expense of everyone else; because we are victims of Republican and Democratic legislators at the state level who align their interests with corporations and who pass laws that sustain their concentrated economic privilege and power;
Because Illinois citizens are victims of deregulation and tax reductions for the wealthy minority that have resulted from organized political action by and in support of the wealthy sector; because we are victims of insidious financial and pension reforms that do not resolve the state's deficit problems but accommodate and reinforce the enormous inequality of organizational resources of corporate self-seekers;
Because Illinois citizens are victims of political and economic tyranny and the lack of accountability for destroying a representative democracy and a just economy; because we are victims of Super PACs and their vast resources of money and influence committed to reforming the rules and policies that have adversely affected the lives of the middle class and disenfranchised;
Because Illinois citizens are victims of partisan polarization and well-financed organizational interest group politics and policies; of compromised corporate-owned media, such as the Chicago Tribune, that have been bought by the wealthy minority to shape what and how readers think about fiscal issues that House Bill 4479 is a devious ruse.