Could The Tax Cut Threshold Be As Low As $70,000?

Well, you know the problem was is that they weren’t targeted at the short term stimulus of the economy. What we should have done is if we were going to initiate tax cuts, and I’m a strong supporter of tax cuts for working families like the Earned Income Tax Credit, to initiate things like cuts in the Social Security tax, and other taxes that are really burdensome on families that are making 50, 60, 70 thousand dollars a year. Those tax cuts I think would have stimulated the economy.

But the money that we’ve given up directly affects Illinois in its potential, in terms of job growth because it means that transportation dollars are not in the state of Illinois, heath care dollars are not in the state of Illinois. There are enormous needs around the state that we could be using that money for.

Statements like this typically mean little, unless you’re consistently lowering the point at which you raise taxes. It’s coming, this is not about “at what income level” will we see an increase. The only question left is “how much” of an increase it will be.

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