On August 14th, 1764 in Boston’s Hanover Square an effigy was hung from an elm tree. That tree later became known as the “Liberty Tree’ and was symbolic for freedom from taxes that affected the livelihood of the New World.
With cities, States and the Federal government competing for tax revenue Americans are bracing themselves for creative tax increases.
According to a report by CBS Chicago, Governor Pat Quinn of Illinois is proposing a 50 percent hike in State income taxes. “The income tax increase could bring in nearly $4 billion. The budget deficit is expected to be more than $9 billion by the summer of 2010. State lawmakers are also talking about raising gasoline taxes to pay for road and bridge construction. Fees on driver's licenses and license plate stickers may also go up. In addition, some business tax breaks would be eliminated, and Quinn promises to tighten state government spending,” writes Joanie Lum.
Could the 50 percent tax hike in Illinois be a prophetic sign for other States throughout America? If so, what will be the response of the people? In 1774 the response from the citizens of Marlborough was “A free-born people are not required to submit to tyranny!”
As thousands of people continue to lose their jobs and massive home foreclosures will our city, State and Federal leadership repeat the mistakes of King George III?