graduated income tax http://wuis.org en Tax Watchdog Group: Income Tax Doesn't Hurt Businesses, Property Tax Does http://wuis.org/post/tax-watchdog-group-income-tax-doesnt-hurt-businesses-property-tax-does <p><span style="line-height: 1.5;">&nbsp;&nbsp;</span>Opponents of Governor Pat Quinn's proposed income tax increase say it will chase jobs out of Illinois. A new report that challenges that assumption.</p><p></p><p>What to do about Illinois' expiring income tax hike has been the star of the debate this spring. The governor threatens cuts unless its extended, while Republican leaders say keeping the higher tax rate is a bigger threat to the economy.</p> Tue, 08 Apr 2014 05:34:29 +0000 Hannah Meisel 22687 at http://wuis.org Tax Watchdog Group: Income Tax Doesn't Hurt Businesses, Property Tax Does Listen To State Week - April 4, 2014 http://wuis.org/post/listen-state-week-april-4-2014 <p>This week, a proposal for a state constitutional amendment on voting rights, a proposal for a graduated tax rate, and suggestions for a pension change for the city of Chicago.</p><p></p><p></p> Fri, 04 Apr 2014 20:03:28 +0000 Bob Meyer 22340 at http://wuis.org Listen To State Week - April 4, 2014 Graduated Income Tax Moves Forward After Stumble http://wuis.org/post/graduated-income-tax-moves-forward-after-stumble <p><span style="line-height: 1.5;">&nbsp;&nbsp;</span>An effort to change Illinois' income tax from a flat to a graduated structure is making headway in the General Assembly. The plan, where the more you earn the more you pay, has been revived after a setback last week.</p><p></p><p>When another proposal for a graduated income tax was up for debate last week, it was shot down before even getting to the floor. But Representative Christian Mitchell, a Democrat from Chicago, says his proposal is different: Its income-based tax brackets are lower than the previous version.</p> Fri, 04 Apr 2014 14:47:08 +0000 Hannah Meisel 22306 at http://wuis.org Graduated Income Tax Moves Forward After Stumble Madigan's 'Millionaire's Tax' Passes Legislative Hurdle http://wuis.org/post/madigans-millionaires-tax-passes-legislative-hurdle <p><span style="line-height: 1.5;">&nbsp;&nbsp;</span>A tax on millionaires is advancing through the General Assembly ... at the expense of a progressive income tax.</p><p></p><p><span style="line-height: 1.5;">The so-called "Millionaire's Tax" would levy a three percent surcharge on income over a $1 million. House Speaker Michael Madigan says that should raise about a billion dollars, which Illinois would send exclusively to schools.</span></p><p>"My judgment was that it helps education and it calls upon those in the society that are better able to help fund education than others."</p> Thu, 27 Mar 2014 21:43:20 +0000 Hannah Meisel 21789 at http://wuis.org Madigan's 'Millionaire's Tax' Passes Legislative Hurdle Progressive Income Tax Supporters: Most Taxpayers Would Get Break http://wuis.org/post/progressive-income-tax-supporters-most-taxpayers-would-get-break <p><span style="line-height: 1.5;">&nbsp;&nbsp;</span>Advocates have been moving for months to give Illinois a progressive income tax. Instead of the same flat rate for everyone, those who make more would pay more. As Hannah Meisel reports, supporters are finally getting specific.</p><p></p><p><span style="line-height: 1.5;">Backers of the plan argue most Illinoisans would get a tax cut.</span></p><p>Senator Don Harmon, a Democrat from Oak Park, says this provides the state a new choice, instead of extending the 2011 income tax hike or making deep cuts to services.</p> Tue, 25 Mar 2014 22:38:06 +0000 Hannah Meisel 21670 at http://wuis.org Progressive Income Tax Supporters: Most Taxpayers Would Get Break Activists Pushing For Graduated Income Tax http://wuis.org/post/activists-pushing-graduated-income-tax <p>A group of activists are working to end Illinois' flat income tax. They say they've gathered more than 150-thousand signatures so far, and are making their case to Illinois lawmakers.</p><p><span style="line-height: 1.5;">Income in Illinois is taxed at a uniform five percent, whether you're working at a drive-thru window or you're the CEO of a multi-national corporation.</span></p><p>The people pushing what they call a "fair tax" would have wealthy people pay more, while middle- and lower-income people would pay less. That's already how federal income taxes work.</p> Tue, 05 Nov 2013 12:00:00 +0000 Brian Mackey 12360 at http://wuis.org