Deadbeat Illinois serves as a warning

The dictionary defines “deadbeat” as someone who deliberately avoids paying their bills. It’s an unflattering label, but for Illinois, it’s now their unofficial new nickname: the Deadbeat State.

Wracked by corruption and drowning in debt, the state of Illinois has surpassed California as the national poster child for fiscal mismanagement. In desperation last January, state lawmakers approved a massive increase in the state’s personal and corporate income taxes.

Individual income taxes rose by 66 percent while corporate taxes increased 45 percent. Lawmakers also approved a two percent cap on sp...