As the state faces its most pressing budget crisis ever, it is time to rethink how much of its income-tax revenue it can afford to pass back to local governments.
The average American pays $6,000 in subsidies to corporations every year, but that gigantic chunk of taxpayer change simply is not enough for some special interests.
Illinois has the highest income taxes on the poor of almost any state in the country, but the solution is not simply to raise taxes on the wealthy, as some constantly push for in Illinois.
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.