Cut in business tax won’t lead to job growth
House Speaker Michael Madigan’s plan to slash corporate income tax rates will not result in businesses “grow(ing) their work forces with good-paying jobs.” State legislators need to brush up on Business 101 and give up on the ridiculous fallacy that tax breaks lead to job growth. Tax breaks will provide more funds for businesses to pay their CEO’s huge salaries and give stockholders bigger dividends!
It’s appalling that corporate income tax makes up only 9 percent of the Illinois state budget for 2013, while a whopping 45 percent is harvested from individuals. Businesses benefit from the state’s infrastructure and an educated workforce. It’s time for businesses to start paying their fair share, and for the state to stop balancing the budget on the backs of workers!
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