Home Illinois News Graduated tax in progressive Democrats’ ‘vision’ for state – News-Gazette Graduated tax in progressive Democrats' 'vision' for state - News-Gazette March 30, 2017 3 Share on Facebook Tweet on Twitter ShareTwitterEmailPrintGoogleFacebook Read Article Sort by: newest | oldest nixitProgressive doesn’t have to mean higher. Last I checked, Ohio’s progressive state income tax rate is even with IL’s 3.75% flat rate up to $150,000 and tops out at 5%. Has Harmon and gang proposed a similar structure? And would they agree to commit to it for 10 years minimum? The problem with a progressive tax structure is that it allows politicians to play with the brackets so they can back into their revenue numbers. No thanks. They are going to zero in on the $80,000 and up crowd. 2 months 23 days agoWirePointsHarmon referred to his earlier claims that the bottom 94% would actually get a tax cut, which is probably about your $80k. He’s nuts. The resulting bill for the top 6% would be astronomical. I will be writing about that. 2 months 23 days agonixitWait, he’s back on that “94% get a tax cut” kick again?! That phony number is from his 2014 tax plan that was based on the expiring 5% rate (see: http://bit.ly/2nBLU9o ). If you look at total tax returns filed by income level, the cutoff for that 94% threshold is $150,000. If his new plan is based on the current 3.75% rate (doubtful), then I can only imagine how steep the jump will be beyond that cutoff. We’d need to know his target revenue number to figure that out. BTW, the 6% of the tax filers earning above $150,000 account for 45% of the total individual income… Read more »2 months 22 days ago wpDiscuz Recent Wirepoints Originals Speech Muzzlers Triggered: Chicago’s Theater Community On The Attack – WP Original June 21, 2017 Together we make great theater -- unless you disagree with us, in which case you're a bigot. New Study Details How Pensions Exploit New And Younger Teachers – Wirepoints Original June 14, 2017 Illinois gets an 'F' as you'd expect, but we have plenty of company on this. Why You Shouldn’t Believe The Illinois Budget Deficit Numbers Released This Week – Wirepoints Original June 11, 2017 True numbers are 2X or 3X worse and show the genuine bind Illinois is in -- not just an ego clash between Rauner and Madigan. Wait for July To Downgrade Illinois Bonds To Junk — For The Subprime Anniversary – WP Original June 9, 2017 And a look ahead for the near term. Would Congress Authorize Bankruptcy for Illinois and Other States? Yes, Inevitably. – Wirepoints Original June 4, 2017 All truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident. -Arthur Schopenhauer. And thanks to ZeroHedge for republishing this article. COGFA: State of IL Revenue Up In May But Still Down For Year – WP Original June 4, 2017 Up 7% for the month but still down 3.5% for the year-to-date. Great Speech By Rep. Jeanne Ives On ‘Union Thugs’ Vandalizing Construction Site of a State Rep. They Don’t Like – WP Original June 2, 2017 And shame on most of the Illinois press for ignoring this crime. Video: IL State Senator, Clueless About Bill He Sponsors, Blames Questioning On His Mexican Heritage – WP Original June 1, 2017 Truth is, most of the rest of the legislature doesn't know what the bill does either. It still passed. Same with most of what they rushed through this week. Skim through this database of City of Chicago salaries (and don’t vomit) – WP Original May 31, 2017 Names, titles, salaries and more.