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Thread: Proposed Tax Increase Bigger Than Expected

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    Proposed Tax Increase Bigger Than Expected

    Proposed Tax Increase Bigger Than Expected « CBS Chicago – Breaking News, Sports, Weather, Traffic, and the Best of Chicago
    SPRINGFIELD (AP) — Top Illinois Democrats have agreed to push a plan that would temporarily boost income taxes by 75 percent and double cigarette taxes, Senate President John Cullerton said Thursday.
    Illinois’ personal income tax rate, now 3 percent, would climb to 5.25 percent for four years under the plan Cullerton outlined. After that, it would drop to 3.75 percent.
    That means someone who now owes $1,000 in state income taxes would owe $1,750 at the new rate, then $1,250 after four years.
    The permanent portion would be used several ways. Some would be devoted to schools and some to repaying an $8.5 billion loan that would be used to pay overdue bills, Cullerton said.
    Another chunk would go to property tax relief in the form of annual $325 checks, he said. The checks would replace the property tax exemption that homeowners can now claim on their income taxes.
    Does anyone really believe taxes will go down in 4 years?

    Yeah, me neither.
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



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    Re: Proposed Tax Increase Bigger Than Expected

    Illinois will be the next state to handover the state house to the Republicans.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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