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.
A recent Gallup poll found residents in states with higher tax burdens are more likely to want to move. Illinoisans are the third-most-likely to say they would prefer to move permanently to another state.
Instead of spending reform and policies to promote economic growth, Illinois House Speaker Mike Madigan proposes the same high-taxing, big-spending plans that got Illinois into its current fiscal mess.
Illinoisans handed over a larger portion of their earnings to state and local governments than did taxpayers in 45 lower-tax states in fiscal year 2012, according to a new Tax Foundation study.
The fictional family from “Home Alone” has paid nearly $750,000 in property taxes since the film’s release, and real Illinois families are struggling under a massive local tax burden.
Property taxes are the single largest tax in Illinois, burdening residents far more than either income or sales taxes. Illinoisans already know they pay high property taxes. But what is not as well known is that property taxes are outpacing residents’ ability to pay for them. Over the past 50 years, whether measured in comparison...
The Education Freedom Tax Credit, also known as the Federal Scholarship Tax Credit, will give Illinois students access to donor money if the state opts into the program.