Illinois House Democrats push first-in-the-world wealth tax, streaming, concert taxes – Illinois Policy

Illinois House Democrats introduced a $1.5 billion transit funding plan with a wealth tax on hypothetical income that doesn’t exist anywhere in the world. Even Gov. JB Pritzker doesn’t support the proposal. “As it is, it’s not going forward” Pritzker said referring to the bill.
13 Comments
Newest
Oldest Most Voted
Inline Feedbacks
View all comments
Morefandave
7 months ago

It’s a housekeeping measure, designed to get any wealth they haven’t already confiscated. They’re thorough, gotta give them that. I have a suggestion for a tax: tax the increase in Reps and Sens net worth since they took office. You could call it a capitol gains tax.

James
7 months ago
Reply to  Morefandave

Capitol idea!

MsT
7 months ago

There is a strange syndrome that effects every elected official–they start to believe what every sycophant tells them: You are the best, most important, wisest person, you are always right and you will be the next (insert next higher elected position name). They lose any connection to the people that elected them and operate fully and only in “power mode” in the bubble with other elected/anointed powerful people. In power mode they are omniscient, see the future and know (as the deluded always know) what is necessary to keep their bubble life going. We are the little people who should… Read more »

Deb
7 months ago

No problem, the wealthy would leave IL. Dems are also going to tax workers with 401 Ks? Workers put money away for retirement and the Dems are going to punish them for saving? This would not only targeting the wealthy, but workers who are being financially responsible. Typical Democrat move, all to support illegals, criminals, and Democratic fraud.

taxpayer
7 months ago

I wonder how they plan to enforce the tax on unrealized gains. How are they going to determine how much unrealized gains anyone has? And would they also rebate for unrealized losses?

mark
7 months ago
Reply to  taxpayer

don’t know about gains, but loses will not be rebated or if they are you will only be able to offset gains and any further loses will be subject to a limit as they currently do capital gains for us pions without insider information

Call my shrink
7 months ago

Illinois. The next West Virginia. Keep up the good work guys

David F
7 months ago

Pritzker would never sign it into law or he would have to leave the state. How about a determination of the percentage of the cost the consumer vs the public has to pay? (Say) 75% of the cost certainly should be paid by the consumer of the service with the public picking up the rest. If it’s unreasonably expensive to the consumer to pay 75% of the cost of the service the service should be reduced to a level where the consumers cost it reasonable or discontinue the service entirely. There should be no Free Ride on the backs of… Read more »

David F
7 months ago

A wealth tax would never hold with the Illinois Supreme Court which has been bought and paid for by Pritzker. Besides Pritzker would never sign it because he would have to leave the state as well.

Call my shrink
7 months ago
Reply to  David F

Putzger leave ??? Please don’t give me false hope

Sanity please
7 months ago

Whatever they are smoking in Springfield
it is really messing up their brains,
knock it off, idiots

Brian Jones
7 months ago
Reply to  Sanity please

Probably bummed it from Johnson.

Isn’t Illinois Fun?
7 months ago

Much focus on raising taxes and fees and zero on reducing budgets, fiscal restraint, pension reform, and creating wealth by being business and jobs friendly, just on redistributing money through the corrupt vessel of city, county and state government.

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