In Illinois, we have a flat income tax rate. On the ballot in November will be a question regarding changing the flat tax to a graduated tax rate. The so-called “Fair Tax” would allow the General Assembly to set tax rates based on income. With the flat tax, we all pay the rate of 4.95% no matter what our income is. In effect, the rich pay more because they make more. The Democrats have placed this graduated tax on the ballot so that they can raise taxes.
There have been a couple of tax increases over the past decade and each one resulted in people and businesses leaving Illinois. Because of our loss in population, we are losing a congressional seat in Washington DC. Those who have the means are leaving Illinois now to avoid the possibility that they will get caught up in the “fair tax”. Here is the exact language that will be on the ballot:
The proposed amendment grants the State authority to impose higher income tax rates on higher income levels, which is how the federal government and a majority of other states do it. The amendment would remove the portion of the Revenue Article of the Illinois Constitution that is sometimes referred to as the “flat tax,” which requires all taxes on income to be at the same rate. The amendment does not itself change tax rates. It gives the State the ability to impose higher tax rates on those with higher income levels and lower tax rates on those with middle or lower income levels. You are asked to decide whether the proposed amendment should become a part of the Illinois Constitution.
The language is clear:
“It gives the State the ability to impose higher tax rates on those with higher income levels and lower tax rates on those with middle or lower income levels.”
Democrats control the Illinois House and Senate and whatever they decide the Democrat Governor of Illinois JB Pritzker will sign it giving one political party the power to dictate our tax rates for every level of income.
The good news is that the referendum question requires 60% of voters saying yes to this new tax increase. Illinois will not resolve it’s financial problems by raising the taxes of the “rich”. It seems that the Democrats’ only solution to every problem is to raise taxes. The only people who will make money after this new tax is the UHaul and moving businesses.
Vote NO on the graduated income tax!
Thank you & God bless!