Illinois has fourth-largest portion of tax revenues coming from corporate income taxes in the nation

By Benjamin VanMetre
Illinois’ corporate income tax rate is already the fourth-highest in the industrialized world. Yet some lawmakers want to push rates even higher. State Rep. Naomi Jakobsson, D-Champaign, wants swap out Illinois’ constitutionally protected flat rate income tax on corporations with a progressive income tax hike. And that would be on top of the fact that...

TAGS: corporate income tax, fair tax, flat tax, graduated income tax, Naomi Jakobsson, progressive income tax

Progressive tax hike proposal attacks Illinois’ working and middle classes

By Benjamin VanMetre
State Rep. Naomi Jakobsson, D-Urbana, recently revealed a new progressive tax proposal with rates that hit Illinois’ middle and working classes hard. Under current Illinois law, the individual income tax rate will be 3.75 percent in 2015. Under Jakobsson’s new plan, however, a higher 4 percent rate kicks in for people earning just $18,000. That...

TAGS: income tax, Naomi Jakobsson, progressive income tax

Unmasking state Rep. Naomi Jakobsson’s agenda for higher taxes

By Benjamin VanMetre
State Rep. Naomi Jakobsson, D-Urbana, penned a press release attempting to mask her agenda for higher taxes in Illinois and sell her progressive tax plan as something it isn’t. When it comes to her peers and opponents, Jakobsson suggests that arguments about a progressive income tax for Illinois need come with coherent policy arguments combined with facts....

TAGS: fair tax, graduated income tax, income tax, Naomi Jakobsson, progressive income tax