Democrat ‘encouraged’ to recommend progressive tax to reduce Illinois’ high property taxes – Center Square

2 Comments
Newest
Oldest Most Voted
Inline Feedbacks
View all comments
world with end
6 years ago

funny stuff

Exactly how much relief from high property taxes will the progressive state income tax offer? The answer is … wait for it … not much or no relief at all.

Also, once again, you’ll be relieved to find that only the affluent will see higher state income tax rates … until you find out that, with you’re slightly-above-average salary, you’re among the affluent.

debtsor
6 years ago
Reply to  world with end

“until you find out that, with you’re slightly-above-average salary, you’re among the affluent.” Well, almost correct. WE can always look to IL’s mentor and sister progressive state, California, to get an idea of what happens when progressive rates are put in place in progressive states. California taxes single people with incomes over $42,000 at 8%. Married couples is 8% of anything over $85,000 with a special 6% category at $61,000. This is what is coming to IL despite the so called .05% reduction from anyone under the top bracket will get.. They says “Only those single/married households with income below… Read more »

SIGN UP HERE FOR FREE WIREPOINTS DAILY NEWSLETTER

Home Page Signup
First
Last
Check what you would like to receive:

FOLLOW US

 

WIREPOINTS ORIGINAL STORIES

WE’RE A NONPROFIT AND YOUR CONTRIBUTIONS ARE DEDUCTIBLE.

SEARCH ALL HISTORY

CONTACT / TERMS OF USE