Thirty-nine Illinois state representatives have signed on to a resolution stating their opposition to the imposition of a state tax on retirement income as revenue plans circulate ahead of state budget negotiations in 2016.
Illinois' wealthy don’t need defending. They know how to take care of themselves just fine. But don’t assume that a tax hike on them will be a free lunch for the rest of us. If too many wealthy leave, our reform-shunning legislature will only have one place to make up for the loss in tax revenues: Illinois' middle-income earners.