Replacing Illinois’ fair, flat income tax with a progressive tax would mean that some married couples with both spouses working would pay more in state income taxes than if they remained single.
A progressive tax would give Illinois politicians carte blanche to raise rates, which would end up sticking middle-class taxpayers with rates originally intended for “the rich” – all while chasing still more residents and businesses out of the state.
The top 18 percent of Illinois taxpayers cover more than 60 percent of the state’s income taxes, and the state’s millionaires pay 15 percent of Illinois’ income taxes.
In her recent opinion piece, Innovation Illinois’ Elizabeth Austin misrepresented the facts in order to claim Illinoisans don’t pay high taxes: “My View: Illinois OK when right tax info is compared.” As the state budget battle wages on, it’s important for taxpayers to be armed with accurate information. Austin claimed that so far in the...
Illinois Policy Action is announcing an initiative to help hold legislators accountable to their word following the three major state income tax defeats during the spring session. We will be asking all House and Senate members to sign our “Keep Your Promise” pledge, which will affirm politicians’ stated opposition to keeping permanent the temporary 5...
Lawmakers and special-interest groups across Illinois are trying to dupe Illinoisans into paying higher income taxes. They’re trying to convince Illinoisans that a progressive income tax hike is only a tax hike on the rich. But that couldn’t be further from the truth. Need proof? Look at the most recent progressive tax hike proposal. Under...
You’re a small business owner planning out your budget for the next five years. You expect explosive growth and a lot of hiring. But your financial future is uncertain, so you factor business risks and uncertainties into your plan. At least you can count on your state government for stability and a clear tax structure...
Chicago’s $1.15 billion projected budget gap is the latest in a decades-long string of structural deficits. Making Chicago’s high taxes worse is not the solution.