graduated income tax

Income tax
12:34 am
Tue April 8, 2014

Tax Watchdog Group: Income Tax Doesn't Hurt Businesses, Property Tax Does

Credit flickr/danxoneil

  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.

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.

Ralph Martire, director of the Chicago-based Center for Tax and Budget Accountability, says that's a misunderstanding. He says property taxes are the true obstruction of economic growth.

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State Week
3:03 pm
Fri April 4, 2014

Listen To State Week - April 4, 2014

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.

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Graduated income tax
9:47 am
Fri April 4, 2014

Graduated Income Tax Moves Forward After Stumble

  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.

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.

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Millionaire's tax
4:43 pm
Thu March 27, 2014

Madigan's 'Millionaire's Tax' Passes Legislative Hurdle

  A tax on millionaires is advancing through the General Assembly ... at the expense of a progressive income tax.

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.

"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."

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Progressive income tax
5:38 pm
Tue March 25, 2014

Progressive Income Tax Supporters: Most Taxpayers Would Get Break

  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.

Backers of the plan argue most Illinoisans would get a tax cut.

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.

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Statehouse
6:00 am
Tue November 5, 2013

Activists Pushing For Graduated Income Tax

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.

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.

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.

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