April 11, 2019
Illinois plans "graduated" tax
Timothy Birdnow
Illinois is utterly determined to commit hari kari. From the Belleville News Democrat:
So in the interest of "fairness" the state is going to force the top one percent out of Illinois, to pay taxes to Indiana, or Missouri. Brilliant!
Democrats simply cannot understand that economic growth is driven by the top and not the bottom, and that the bottom actually prospers under a system where the top does well. They cannot understand, furthermore, that the economy is a dynamic system and not static; it responds to actions taken. You can't just add a tax and expect commensurate revenue increase, because people find ways to dodge that tax, and in the process spend more time and money sheltering wealth than creating it.
Illinois is already bleeding population at a prodigious rate. This could well drive all the productive people out of the state, and Illinois may end up being the first state in the nation to go bankrupt.
Illinois is utterly determined to commit hari kari. From the Belleville News Democrat:
The measure, SJRCA 1, would give the Legislature the authority to tax higher margins of income at higher rates. If three-fifths of each the Illinois House and Senate vote to put the question on the ballot, voters will decide in November 2020 if that authority is granted.
Senate sponsor Don Harmon, an Oak Park Democrat, said the amendment is necessary to bring tax fairness to the state, as the bottom 20 percent of Illinois earners pay 14 percent of their total income in taxes, while the top 1 percent of earners pay 7 percent of their income in taxes. Those numbers are contained in the "Terrible 10†report conducted by the Washington D.C.-based Institute on Taxation and Economic Policy, which has been characterized as left-leaning.
Senate sponsor Don Harmon, an Oak Park Democrat, said the amendment is necessary to bring tax fairness to the state, as the bottom 20 percent of Illinois earners pay 14 percent of their total income in taxes, while the top 1 percent of earners pay 7 percent of their income in taxes. Those numbers are contained in the "Terrible 10†report conducted by the Washington D.C.-based Institute on Taxation and Economic Policy, which has been characterized as left-leaning.
So in the interest of "fairness" the state is going to force the top one percent out of Illinois, to pay taxes to Indiana, or Missouri. Brilliant!
Democrats simply cannot understand that economic growth is driven by the top and not the bottom, and that the bottom actually prospers under a system where the top does well. They cannot understand, furthermore, that the economy is a dynamic system and not static; it responds to actions taken. You can't just add a tax and expect commensurate revenue increase, because people find ways to dodge that tax, and in the process spend more time and money sheltering wealth than creating it.
Illinois is already bleeding population at a prodigious rate. This could well drive all the productive people out of the state, and Illinois may end up being the first state in the nation to go bankrupt.
Posted by: Timothy Birdnow at
10:06 AM
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It doesn't matter how it spells it out, all of us are going to pay MORE for the politicians to spend. They can establish new programs essay help | essay tigers and new spending to buy votes.
Posted by: Sharlyn Harville at April 12, 2019 07:25 AM (P+Egs)
2
Yes they can and will, Sharlyn.
I fear the taxpayer's cause is as lost as Custer at Little Big Horn. And especially Illinois.
I fear the taxpayer's cause is as lost as Custer at Little Big Horn. And especially Illinois.
Posted by: Timothy Birdnow at April 13, 2019 07:31 AM (mKc5Q)
3
Very well written and explanation is quiet good which is good cause for the appreciation. Thank you so much 
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