Raising taxes is bleeding the patient. It is contraindicated. Whenever the relative price of a good is raised, less is consumed. Raising taxes makes work less valuable, encouraging taxpayers to substitute leisure for work just as raising minimum wages to $15 encouraged McDonald’s to substitute kiosks for workers. 

Projected tax revenues will not materialize as individuals and corporations are not passive creatures. Once again Illinois enacts a destructive economic law.

Chuck Courtney