Please don't fall for J.B. Pritzker's cordial smile while he and Madigan raise your income taxes by passing a progressive income tax.
Here are the facts according to the Illinois Policy Institute:
• A progressive tax hike could hit single taxpayers earning as little as $17,300 a year.
• Under an existing progressive tax proposal, the average family with two kids and a $73,000 annual income would see their tax bill go up an additional $665.
• Tax hikes kill economic growth, period. If Illinois enacted the progressive tax, we would lose $5.5 billion and 34,500 jobs in the first year alone.
• In the last 10 years, states without a progressive tax experienced 36 percent more GDP growth, employment grew 37 faster and wages increased 21 more than in states with a progressive tax.
• The truth is Illinois doesn’t have a revenue problem, it has a spending problem. State government spending grew 25 percent faster than personal incomes from 2005 to 2015, which is faster than taxpayers can afford.
Scrapping Illinois’ constitutionally protected flat income tax would remove one of the only pro-taxpayer policies in the state. These proposals amount to little more than a Trojan horse for middle-class tax hikes.
Pritzker's not your buddy, he's not your friend & he's not here to save the state. He and Madigan just want to spend more money on their special interests and they intend to take that money from you.
Bill Friend, Decatur