Illinois Millionaires Tax Dies, Other Tax Plans Survive

Friday, 11 Apr 2014 02:53 PM

By Benjamin Yount, Watchdog.org

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
Illinois Democratic lawmakers have — albeit reluctantly — dropped a plan to tax people with seven-figure incomes, yet two other tax plans are very much alive.

Illinois taxpayers are looking at either a graduated income tax, which takes more taxes from people who earn more, and a proposal from Gov. Pat Quinn to make permanent the 2011 "temporary" income tax.

"It depends on where you sit whether you call (keeping the temporary tax) a tax increase," Carol Portman, executive director of the Taxpayers Federation of Illinois told Illinois Watchdog. "It certainly is an increase over what you were expecting to see."

Portman and her group haven't taken a position for or against Quinn's plan, nor has it weighed in on the progressive tax pitched by Democratic state Sen. Don Harmon.

"You can have a graduated rate that is not terrible policy. A lot of states have figured out how to do it," Portman said.

But Portman did say the apparently dead millionaires tax in Illinois was unusual, as it sets tax rates in the state constitution.

The millionaires tax died when Democratic lawmakers said they couldn’t support the plan.

"Our goal should be maximizing government efficiency and job growth, not pushing high earners, and the taxes they pay, out the door," state Rep. Jack Franks said in a statement.

"With this governor, there is no taxation without misrepresentation. He would like to portray this as an issue of fairness, but I am confident that no one who is currently out of work would consider our state's tax policies fair."

Franks and another Democrat, Rep. Scott Drury, joined every Republican lawmaker in publicly dismissing the millionaires’ tax, leaving the Democrats two votes shy of the 71 they need to move it forward.

The competing — and changing — tax plans are difficult to understand.

"It's so complicated that even the people who know it thoroughly, inside and out, are struggling to come up with a serious (and) honest answer," Portman said.

Lawmakers must have a budget in place by the end of May, but the legislature may not vote on a tax increase until after the election in November, or even as late as January 2015.

"Illinois is at an economic crossroads, and our choices going forward are clear," Franks' statement said. "With income tax rates set to expire at the end of this year, Illinois' government must focus on living within our means, not maintaining a business-as-usual approach and taking more from taxpayers already overburdened by our state’s tax-and-spend policies to pay for it."




© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Joe Scarborough Explains Israel 'Asinine' Comment

Thursday, 31 Jul 2014 15:31 PM

MSNBC host Joe Scarborough said he was taken aback by the intense reaction to comments he made criticizing Israel's mili . . .

California's Obamacare Rates to Average 4.2% Increase in 2015

Thursday, 31 Jul 2014 15:23 PM

Health-care plan premiums will rise an average of 4.2 percent next year in California's insurance exchange, the largest  . . .

Survey: Young Adults Shunned Obamacare Due to Cost

Thursday, 31 Jul 2014 15:16 PM

A majority of young adults who did not sign up for health insurance under Obamacare cited cost as the reason, according  . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved