Illinois battles over fair tax in city, Illinoisans agree on fair tax

Illinois battles over fair tax in city, Illinoisans agree on fair tax

The battle of getting fair tax is on in Illinois. JB Pritzker, the governor of Illinois, said last March that the current flat tax of the state was regressive. The percentage of the same income had detrimental impacts on people earning $50000 or less per year. The taxpayers having high disposable income per month will not have many detrimental effects over the same percentage of income.

Pritzker said that people having higher incomes would pay more taxes. It will add more than $3 billion in additional tax revenue. Ralph Martire, a member of the Center for Tax and Budget Accountability, said in a debate with Dan Proft, a conservative pundit, “The state’s much-maligned and underfunded pension system is actually a consequence of flat tax.”

The pension funds of Illinois are underfunded in the long run. The legislators drew on pension funds to balance the budget in the short run. There is a need for a more equitable tax system for everyone in Illinois. It is not about punishing the rich ones. A fair tax system allows the government to balance the economy. The anti-taxers called the fair tax a ‘scare tax’.

Bill Brady, the state senate minority leader, said, “The graduated income tax must be defeated.” A study carried out by the University of Illinois at Urbana-Champaign revealed that the progressive income tax could grow the state economy by $8 billion a year. The current administration has also introduced the Online Fair Tax Calculator. This calculator allows the residents to judge the effects of the fair tax on their tax bills.

The fair tax system does not attack the rich residents of Illinois but it helps to make the taxes more equitable. JB Pritzker embraced it and he wants to make the tax system more equitable. All Illinoisans will get benefit from it. If the top 3% of the taxpayers, having more than $250000 in disposable income, would pay more taxes then the government will become strong in providing the best services to the overall population. The pension funds will also get better. It is the theme of ‘One Illinois’ perspective.

Managing editor of the Chicago Morning Star

Related Posts
Chesney: Rural Illinois “Not Forgotten” when it comes to higher taxes and fees
It’s no secret that much of rural Illinois, the vast region of Illinois outside of
Dozens of energy drink and juice factories closed in Saudi Arabia
The Saudi government has implemented 50% taxes on the energy drinks and other sweet juices.
Rep. Joyce Mason urges Pritzker to sign Senate Bill 1300
Rep. Joyce Mason of D-Gurnee (61st Street) supported the pension reform and property tax relief
Chicago Judge spikes a suit filed against TIF program
A Circuit Court judge of Cook County has spiked a suit filed against a tax-increment-financing
Will Chicagoans get Earned Income Tax Credit?
Will Chicago put back some money into the pockets of the overburdened working families? The
Cook County judge dismisses suit against Chicago’s TIF program
Cook County judge has dismissed the suit against Chicago’s tax-increment-financing program on Wednesday. The judge
Gas Tax doubles in Illinois State overnight
The gas tax has been increased by the government for the first time since 1990.
More Taxes for Illinois?
There could be more taxes for Illinois as gas tax could be more than double
Pritzker wants tax hikes despite growing Illinois revenue
‘Illinois budget’ and ‘extra revenue’ don’t go hand to hand but this is the case
Cannabis to be Legal in Illinois?
A cannabis bill is expected to be filed in Illinois Senate today. The cannabis bill