The U.S. Senate race in Illinois is now a virtual toss-up, with Democratic State Treasurer Alexi Giannoulias holding a slight 44% to 41% lead over Republican Congressman Mark Kirk.
Tough nut for Repubs to crack, this Illinois. It’s also blue and heading for fiscal trouble. Fear not. The incumbent Dem governor has the answer:
SPRINGFIELD – — Democratic Gov. Pat Quinn pitched a 33 percent income tax increase Wednesday, framing the debate as a choice between finding more money or hurting schoolchildren.
Ah yes, the children. Teacher unions too, but forget that.
In any case, we have here the marvelous religious-style faith in taking money out of private hands and giving it to our noble, trusted Bureau-Dems.
Nothing’s too good for children and poor people, you see. But it’s a misplaced faith:
There is a distinct pattern throughout American history: When tax rates are reduced, the economy’s growth rate improves and living standards increase.
Good tax policy has a number of interesting side effects. For instance, history tells us that tax revenues grow and “rich” taxpayers pay more tax when marginal tax rates are slashed.
This means lower income citizens bear a lower share of the tax burden – a consequence that should lead class-warfare politicians to support lower tax rates.
This will never play with Dem netroots, SEIU, IEA and the like. So?
Blithe Spirit 