Rich will pay more under Pritzker fair tax
The Illinois Policy Institute is out and it has some news for the rich people. They will be paying more under Gov. Pritzker’s ‘fair tax’. This was exactly what the Governor had wanted. IPI had granted in an article posted last week that “Gov. J.B. Pritzker claims only 3 percent of Illinois taxpayers will see their tax bills go up under his progressive income tax ballot measure.”
Pritzker had been claiming that only the top 3 percent of earners, making more than $250,000, will pay more taxes and the other 97 percent will either pay less or see no change to their income taxes. However, IPI article warned people: “But that picture changes significantly at the community level.”
The article also focused on Wilmette in the north suburbs of Chicago, where “nearly a quarter of all taxpayers, 22 percent, will see higher income taxes if voters approve Pritzker’s progressive income tax amendment at the ballot box in November 2020.” There is a detailed breakdown of the tax payment.
Around 39 percent of joint filers in Wilmette would pay more, because 1,446 would post incomes between $250,000 and $500,000, 729 would post incomes between $500,000 and $1 million, and 426 would post incomes above $1 million. In the single filers, 76 would pay more because they make between $250,000 and $350,000, an equal 76 would fall between $350,000 and $750,000, and 43 would make more than $750,000.
All of these top-earning Wilmette residents happen to live in Wilmette. There is no denying of these outside the halls of Congress, the White House, and Fox News, that is. Rich Miller’s Capitol Fax made note of this Tuesday, which is where we came across it, under the headline “Unclear on the concept.” Miller pointedly added: “Several Ricketts family members reside in Wilmette. So, yeah, that’s the whole idea of this thing.”