Pritzker ‘fair tax’ would allow for double, triple taxation on same $1 earned – Illinois Policy

"Lawmakers could, for example, enact a 1% pension tax surcharge on top of the normal rates if voters approve the amendment. In fact, multiple taxation schemes have appeared in governments with progressive tax systems before. In 1968, President Lyndon B. Johnson signed legislation that imposed a 10% federal surcharge on income to help fund the Vietnam War."
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Fed up neighbor
5 years ago

After reading this maybe it is time to pack up and leave this state

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Mark Glennon on AM560’s Morning Answer: Chicago pension buyout plan mostly shifts debt rather than eliminating it, property tax surge doubles inflation over three decades

Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.

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