Jared Rogers: Wilson Rogers & Co.

“My biggest concern about [the ‘fair tax’] is people aren’t really aware they’re voting on increasing tax rates.”

“The businesses that support our communities are going to be facing a higher tax burden and due to this, some may decide to leave or be forced to close.”

“The issue is not about millionaires or billionaires. If it were, then families with taxable income of $250,000 would not be at risk of paying more taxes.”

“When people want to be treated fair, they’re typically asking to be treated equally. But the real issue at hand is not fairness or equality.”

“The real issue is the state needs revenue because it refuses to deal with its debt. Voting yes won’t solve the state’s debt or spending problem.”

“So, Illinois will lower the threshold of the brackets to increase taxes on lower income individuals in the future, because the state is broke and needs to raise revenue. It only makes sense that once the new tiered system is in place, the state will slowly lower the brackets so that those who make less pay more in taxes.”

“I don’t think increasing taxes is good for any community. The biggest impact will be felt by the businesses. If the ‘fair tax’ amendment passes, there is legislation already in place that will increase [corporate] taxes by one percentage point to 10.49%. It doesn’t sound like a lot but that is a 10% increase.”

“Our business would face paying more in taxes and we’d have to do more work in planning to make sure the money goes to what we want versus the government. If we can’t figure it out, we’d simply pass it on to the customers in the form of a price increase. Everyone needs to understand that businesses pay for everything. It leaves less money for our customers to spend in the community and invest in the neighborhoods that need revenue.”

“As many businesses, such as our own, spend and hire within the community we operate in, it means less money for us to do that. That’s money that will be given to Illinois versus someone it could be given to who needs a job. It could mean less pay for workers, jobs leaving for other states.”

“The messaging in support of it isn’t clear. It’s designed to get the vote to pass. The wording on the ballot seems like it’s asking for Illinoisans to weigh in on if it’s a good idea for those who make more to pay more in tax and those who make less to pay less. But that’s not what we’re voting on. We’re voting on giving the state the power to create multiple tax brackets and then let them choose who they apply to.”

“Instead of promoting this equality, the message is using the divide and conquer tactic by making it seem like it’s a rich versus poor matter. The fact you’re really voting to increase taxes is getting purposely lost in the message.”

“Increasing taxes on Illinois residents is not what is needed to aid in the recovery. Increasing taxes, especially during this time, adds to the uncertainty.”

Jared Rogers
CPA, Wilson Rogers & Co.
Chicago, Illinois