After tax credits and deductions are taken into account, the effective tax rate for top earners is more than twice the national average further proof that the tax burden is most definitely progressive.
After several hours of debate, the city council voted 6-3 to raise the sales tax from 8 percent to 8.5 percent to repay an $86.6 million, 15-year bond issue to finance the three-year infrastructure program.
If there was any confusion over whether the income tax burden is progressive or regressive in the United States, a recent report by the Tax Foundation, Putting a Face on Americans Tax Returns, clears things up.
Statistics show Illinois is a high-tax state. Ironically, advocates of tax hikes across the state often argue that Illinois is a low-tax state. The people have a right to know the truth about Illinois tax environment.
The Tax Foundation has reaffirmed Illinois’ status as a high-tax state in its newly released 2012 Annual State-Local Tax Burden Ranking. Based on the Census Bureau’s 2010 data, the report found that Illinois’ overall tax burden per resident is the 11th highest in the nation. Some highlights from the report include: At 10.2 percent, Illinois has...
Illinois’ poor public policies continue to hammer the state’s business climate. This week the Tax Foundation released its 2013 State Business Tax Climate Index, confirming the state’s worsening position. Illinois dropped a full 13 places, to 29th, from 16th just since 2011. Illinois now ranks worse than most of its neighbors. The Tax Foundation ranks states based on...
Illinois’ poor public policies continue to hammer the state’s business climate. This week the Tax Foundation released its 2013 State Business Tax Climate Index, confirming the state’s worsening position. Illinois dropped a full 13 places, to 29th, from 16th just since 2011. Illinois now ranks worse than most of its neighbors. The Tax Foundation ranks states based on...
Occupational licensing requirements present one of the steepest barriers to low-income Illinoisans starting careers in beauty services. Illinois requires anyone seeking to become a barber, cosmetologist, nail technician or hair braider to obtain a state license, essentially a permission slip to work. Unlike 45 other states, Illinois offers only one pathway to licensure for each...