Kiplinger report finds Illinois’ sales, income and property taxes on middle-income families rank among the highest in the nation, making prospective residents think twice about moving to the state.
Within 20 years the portion of Illinoisans hit with the progressive tax hike would grow by over 150% if the rate of inflation mirrored the past two decades.
The progressive tax’s structure fails to account for inflation and includes a marriage penalty for 4 million Illinoisans. It is designed to creep farther into taxpayers’ wallets.
After years of enhanced revenue from federal aid, a return to the basic principles of budgeting can put Illinois on the path to long-term financial stability