Live blogging Dan Hynes event

Democratic Comptroller Dan Hynes is announcing his bid for governor.

"The question in this campaign is whether we are working ..."
"If we continue down this road trust in us will dry up."

cited Simon, Dirksen, Douglas and Lincoln

"Monday's landmark legislation can't be Tuesday's celebrated veto."
-- that's a reference to Gov. Pat Quinn touting the ethics reform deal only to then veto it.

He said he proposed budget moves a few years ago that would have helped.
"This may surprise you, they weren't super sexy." (reference to his hmmmm ... boring reputation.)

"I believe we can do better."
His plan calls for a "progressive" income tax.
Those making more than $200,000 a year "pay their fair share."
"We will cut first and when revenue is needed it is best placed on those able to pay."
taxes on luxury services and increased gaming revenues.
"fair income tax structure."

Get rid of high-priced Blago bureaucrats.
"They should have been removed a long time ago."
Save $100 million
Cut consulting contracts.
"They must go"
Save $300 million a year.
Cut back opeartion lines to 2005 levels.

Close tax loopholes and exemptions:
Buying back-to-school supplies you get hit with sales tax but someone going to get Botox doesn't pay the tax.

"It sure beats jacking up everyone's income tax by 50 percent."

Said the changes would put Illinois in line with neighboring states.

Other tax changes:
End retailers discount.
Move gambling revenue tax rate back to 70 percent.

"By making these changes we will cut the 2010 deficit by more than half."

Ultimate goal is wiping out structural deficit:
Two to three additional casino licenses to generate one-time revenues to make up for lost federal stimulus dollars.

We must modernize our income tax structure.

"I propose a progressive income tax structure that will not raise taxes on 97 percent."

Only those making more than $200,000 would pay more.

7.5 percent top rate on those making $1 million or more, take effect Jan. 1, 2011.

$5.5 billion more a year.
Will close deficit by 80 percent.

"A progressive tax structure is more fair than our current."
"A flat tax sounds equal but it has always hit the lower and middle class the hardest."

Acknowledged the tax increase would need a constitutional amendment. Current constitution requires a flat tax.

Goal: To make our state better. "But to do that we have to lead with clarity and consistency."
Said the budget deficit is a result of our leadership deficit.
"I'm running to budget to fill it."

Yes, it'd take a constitutional amendment.

Will be pushing it for the 2010 General Election ballot.

Chanes of success: A referendum to raise taxes?
Something bold needs to be done.
Said such a vote has to take place.

"The people will decide at the ballot box."

Chances? "I think the chances are very good. This plan makes sense."
"Nobody wants to have a 50 percent across the board income tax during a recession."

Said there's a list in his plan it's only on items considered not to be essential.
Tanning salons.
Botox.

A plumber? A barber?
A: "What we have in our plan is a pretty expansive list of services that we view as non-essential."

Q: How do you get the legislative leadership on board?
A: When you talk about Pat Quinn's plan were you talking about plan 1, 2 or 3?

Q: Suburban atheist Rob Sherman asked if Hynes will eliminate construction spending grants to religous organizations and churches that Sherman believes are unconstititional.
A: Hynes didn't answer that but stayed on message about frivolous spending. "All of these cuts should have been made seven months ago."

A: The hard cold fact is this: we cannot cut our way out of this unless you want to jeopardize our roads, our schools our safety.

"Our plan does not call for an increase in the corporate income tax. We need jobs to be grown here."

"But the progressive income tax calls for the wealtiest in our society to pay their fair share."

Also wants an amendment to merge the treasurer and comptroller.

Q: Pension changes?
A: Pension reform is going to be part of it. Details "at a later date."
The primary culprit is the state of Illinois has not met its responsibility.
"punted" on the pension payments every time the state got in a pinch.

THE END (10:34 a.m.)