Commentary: Evaluating latest ad for Illinois’ proposed progressive tax – Champaign News-Gazette

Wirepoints' Ted Dabrowski and John Klingner: "The proposed rates are projected to bring in $3.6 billion in new revenue, far short of what’s necessary, absent reforms, to cover Illinois’ structural deficits and unpaid bills, the true costs of its public-pension plans, and more. Add up those costs, and politicians need to raise $10 billion in new revenues annually."
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Freddy
5 years ago

The pro ads for the tax say. Do you want billionaires to pay more tax? The ads do not say anything about those earning over $250K just billionaires. According to Forbes there are 18 billionaires in Illinois worth a combined $55.4B. If you took that entire amount and applied it to unfunded liabilities it may reduce it by 30% max not including lifetime healthcare costs of $73B. That means regular working people will pay thru the nose sooner than later.

NB-Chicago
5 years ago

An even newer ad from the machine is particularly threateningly creepy –“WHO WILL PAY, THE BILLIONAIRES OR YOU THE MIDDLE CLASS??”…so if you dont approve fair tax be prepaired even more gigantic taxes, but zero cuts, zero layoffs, zero pension reform, zero consolidation for all are debt don’t matter/public sector heros.

Eugene on a payphone
5 years ago

The Trump tax reform limiting deductions of state taxes to $10,000 on the Federal 1040 affected about 300,000 people in Cook County alone. These are the people who can afford to move away and probably will if this foolish tax is passed.

dom
5 years ago

Don’t worry they will vote for it.Their Dem masters will tell them to vote for it and they will…You will not change a cult…

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