Politicians’ quick answer to the state’s problems is consistently to raise taxes, but evidence shows tax hikes are a negative for families struggling in a state already lacking opportunity.
Property-tax hikes have caused taxes on NBA star Dwyane Wade’s former house to more than triple, driving away prospective buyers and showing the harm Illinois’ sky-high property-tax rates inflict on homeowners.
In joining the Chicago Bulls, former Miami Heat star Dwyane Wade is trading Florida’s 0 percent personal income tax for Illinois’ 3.75 percent rate, a choice many out-migrating, middle-class Illinoisans cannot afford to make.
Madigan’s stated concern for the middle class rings hollow given that his own plan to boost the state’s fiscal health consists solely of income-tax increases, which would directly reduce the wages and standard of living for Illinoisans.
In 2015 alone, Illinois state government redistributed more than $12 billion in income and other taxes to local governments. These financial shell games have created a needlessly complex system and make it difficult for local taxpayers to hold their governments accountable.