Anyone who pays attention to state government knows Illinois’ fiscal system is a hot mess. Illinois has a huge — as in $8 billion plus — accumulated deficit in its General Fund. Not good, considering over $9 out of every $10 of spending on services goes to the four core areas of education, health care, social services and public safety.
On top of that, Illinois is also one of the most notoriously unfair taxing states in the nation. The reason: Illinois over taxes low- and middle-income families while under taxing the wealthy. Also not good, given research by Professors Piketty and Saez covering the 1979-2015 sequence which found that over 108 percent of all real growth in income — or more than all of it — went to the wealthiest 10 percent in America. Which means everyone in the bottom 90 percent made less after inflation in 2015 than in 1979.