State lawmakers are rushing a first-in-the-world wealth tax on billionaires. They also want taxes on streaming services such as Netflix and Spotify and steep surcharges on concerts and ticketed events.
Streaming holiday movies or music? Chicago taxes it as the same rate as enjoying the same thing in person. The 9% amusement tax has included streaming services since 2015.
Out of 150 cities, Chicago came in almost at the bottom when the quality of city services and the total budget per capita were ranked, confirming what most Chicagoans already knew.
The Illinois General Assembly and governor devised 20 different ways to take more money from taxpayers to finance spending on government operations and infrastructure.
Between the push for a graduated income tax, his budget address and newly released capital plan, Gov. J.B. Pritzker has proposed an onslaught of backdoor tax hikes on all Illinoisans.
The upward march of Illinois’ core cost drivers – pensions and government worker health insurance – cannot be paid for by tax hikes on small groups. Without reform, tax hike proposals on all Illinoisans will continue flowing from the Statehouse.
Gov. J.B. Pritzker’s office is using a major capital bill as a vehicle to grease lawmakers for a progressive income tax amendment. But the tax hikes to pay for it would make Illinoisans’ gas tax burden the second highest in the nation.
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.