The amendment, if approved, would allow the state to levy a 3 percent surcharge on millionaires for a property tax relief fund. “According to the Illinois Department of Revenue, this millionaire’s surcharge for property tax relief would raise $4.5 billion,” Quinn said. “That's a lot of money.”
He did raise it to 5% and it was only temporary. This income tax rate expired on January 1, 2015. 2.5 half years later in July of 2017. Quinn was long out of office. This is no different than the dems health care subsidies that expire at the end of this year. They were temporary and the current congress and president are not obligated to extend them. Nothing prevented the Illinois GA from keeping tax rates low other than their desire to not cut spending. Since the voters don’t reward fiscal austerity, they chose the path that would most likely… Read more »
Leaving Soon, just not soon enough
6 months ago
Short term gain long term large loss. People with lots of money create economic activity that also will be lost, and lower tax revenue will result. Illinois is losing population already and will lose more. The people with money are also the job creators, lose them and lose the future opportunities for the next generation.
mqyl
6 months ago
You’d think by now we would’ve stopped hearing about these Dems’ hare-brained schemes to increase taxes on the affluent. You’d think these Dems’ would’ve heard enough from learned people why that’s a bad idea; i.e., Illinois would lose high earners and their contributions to Illinois’ economy.
Riverbender
6 months ago
Tell me how, with all his offshore trusts etc, how this will affect Pritzker’s bill?
Last edited 6 months ago by Riverbender
Call my shrink
6 months ago
If you listen closely you can hear the jet engines warming up. Hello Florida- Howdy Texas
Free at Last
6 months ago
Define “millionaire”.
Bob
6 months ago
Love the comment “ THAT’S A LOT OF MONEY!!” Don’t reduce spending just increase TAXES .
Deb
6 months ago
No problem, the millionaires will leave, and the Democratic tax burden will fall on working families.
Hello, Indiana!
6 months ago
I’m guessing Quinn didn’t hear the one activist, P ‘Rae, entreating Ken Griffin to please return to CHI and can’t figure out why Griffin beat it down to FL.
David F
6 months ago
I knew Quinn was stupid, just not an idiot.
I admit I was mistaken.
Sanity please
6 months ago
The money exodus is starting those rich folks will find a way to leave Illinois and the taxes
they want to levy ,watch closely when animals do not have enough to eat, they start eating their young.
The politicians are very hungry, keep your wallet close, your money closer.
Lurker
6 months ago
Quinnochio is like herpes — he never goes away.
Bill also
6 months ago
How about cutting spending in all Illinois government agencies, state and local by 3% yearly. Quinn is still a moron .
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
I cannot find the details. A tax if one earns over a million or is a millionaire? If a tax on millionaires then a tax a people who saved money.
Is this the same Pat Quinn that “temporarily” raised the states income tax 66%?
He did raise it to 5% and it was only temporary. This income tax rate expired on January 1, 2015. 2.5 half years later in July of 2017. Quinn was long out of office. This is no different than the dems health care subsidies that expire at the end of this year. They were temporary and the current congress and president are not obligated to extend them. Nothing prevented the Illinois GA from keeping tax rates low other than their desire to not cut spending. Since the voters don’t reward fiscal austerity, they chose the path that would most likely… Read more »
Short term gain long term large loss. People with lots of money create economic activity that also will be lost, and lower tax revenue will result. Illinois is losing population already and will lose more. The people with money are also the job creators, lose them and lose the future opportunities for the next generation.
You’d think by now we would’ve stopped hearing about these Dems’ hare-brained schemes to increase taxes on the affluent. You’d think these Dems’ would’ve heard enough from learned people why that’s a bad idea; i.e., Illinois would lose high earners and their contributions to Illinois’ economy.
Tell me how, with all his offshore trusts etc, how this will affect Pritzker’s bill?
If you listen closely you can hear the jet engines warming up. Hello Florida- Howdy Texas
Define “millionaire”.
Love the comment “ THAT’S A LOT OF MONEY!!” Don’t reduce spending just increase TAXES .
No problem, the millionaires will leave, and the Democratic tax burden will fall on working families.
I’m guessing Quinn didn’t hear the one activist, P ‘Rae, entreating Ken Griffin to please return to CHI and can’t figure out why Griffin beat it down to FL.
I knew Quinn was stupid, just not an idiot.
I admit I was mistaken.
The money exodus is starting those rich folks will find a way to leave Illinois and the taxes
they want to levy ,watch closely when animals do not have enough to eat, they start eating their young.
The politicians are very hungry, keep your wallet close, your money closer.
Quinnochio is like herpes — he never goes away.
How about cutting spending in all Illinois government agencies, state and local by 3% yearly. Quinn is still a moron .