{ "media_type": "text", "post_content": "How are you all voting on the fair tax amendment? I am voting no because I do not want to continue giving our government money until they fix the pension situation too. But curious to hear your thoughts.", "post_id": "5f7a0923eedc9d001a37726b", "reply_count": 155, "vote_count": 23, "bowl_id": "5a52faa2d440e70018605006", "bowl_name": "Chicago Consulting", "feed_type": "bowl" }
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How are you all voting on the fair tax amendment? I am voting no because I do not want to continue giving our government money until they fix the pension situation too. But curious to hear your thoughts.

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Voting yes.

They can already raise taxes on everyone today (and likely will if it doesn’t pass) - the difference is whether it’s equal across earnings or disproportionate to high income earners. I believe it should be the latter (and I make over 250 so would be impacted).

I have no faith this legislature will spend responsibly but this tax bill whether passed or not won’t change that. So I’d rather that the impacts of taxes at least fall heavier on those who can bear them.

Finally for the argument of the wealthy fleeing, that again will happen regardless of this law passing or not. Unless Illinois is able to do more to turn around job growth and opportunity, tech growth, etc, the general trends will continue. The tax law is just an excuse but many of these people would leave anyway if the flat tax is raised. I’d rather we raise taxes in a graduated way if it’s going to happen.

likesmartfunny

C1, that’d be the easiest way Pritzker guarantees he doesn’t get re elected

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After much deliberation voting yes. IL needs the flexibility of a graduated tax to be able to get the revenues they need to even have a chance at getting at the pension issue ( eg maybe taxing retirement income at a lower rate of 1 or 2% to offset the 3% COLA) and fund education. I also appreciate the efforts made by the state to deal with covid responsibly. I’m sure consumption revenues took a huge hit and the state needs the funds. If this amendment does not pass I worry about either serious cuts to education or a higher tax across the board. Not what people need right now. I do hope more is done on the pension issue, but that is a long slog. Maybe one tiny upside to a conservative majority in the USSC is that there is a shot that the pension clause can be removed from the IL constitution and survive a contract clause challenge at the national level. That will likely be a 10+ year legal battle to even have a chance at clawing back some of the overly generous benefits for tier 1.

likefunny
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I’m voting yes even though I get screwed it helps the majority of my family who don’t make over 100k

likefunny

The new tax bracket would lower taxes if you make under 100k by .05%. Pritzker has admited that they are not planning to cut any spending. He's choosing to not to do his job. By passing this decision to the voters, he walks away untouched.

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Why would anyone vote yes on the fair tax? IL is broke and corrupt. Do you really want to piss off those making over 250K to move elsewhere? Thats how people start looking for loopholes. Then this allows the state to charge penalty for not withholding enough, even though each spouse withheld the right amount, but together put them in the next bracket.

Also I do feel the tax rate should be the same everywhere. Could you imagine if you went to a restaurant and someone had to pay 3% sales tax and someone else 15%. Similarly with income tax, 4.95% of 1mil is already more than 4.95% of someone making 30K.

FIX YOUR PENSION PLAN DEBACLE AND YOUR MULTI-STATE TAX CORRUPTION NIGHTMARE.

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Voting no. Even without Illinois being a dumpster fire, a flat tax is a fair tax.

likefunny

Well said BC1. Flat tax is one of those things that sounds great but then when you look into it you realize it sucks.

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I'm voting yes because I believe in progressive taxation.

However, I realize this will not fix the pension situation. Illinois is just buying time until a default or bankruptcy, as a federal bailout or pension renegotiation doesn't seem feasible in the near term.

likefunny

ZS sounds like you should move to NW Indiana with that other guy. Enjoy! 😂

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Vote no. They need pension reform not tax hikes. Cut off the dole.

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No. This opens up the floodgates to even more aggressive taxation of wealthier groups. Say good bye to that tax revenue if this passed. The burden will just grow

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Voted yes. People with the most should have to contribute the most.

likefunny

The only issue on the ballot is whether they should be allowed to different income levels at different rates. And the answer is yes, like most other states with income tax.

Voting yes because I believe in the marginal value of money

likefunny

No. This will result in massive tax increases to the wealthy, who will leave, and then it will cascade down to the middle class who will be stuck in a worse place then they are in now. IL needs to get spending under control or the ship is going to sink.

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They are free to enjoy all the fine dining and theatre Topeka has to offer.

funny

Voting no- they are selling this as only increasing taxes on the top 3%, but ultimately will enable increased taxes on lower income levels. In 2017, they increased taxes on everyone by 34% here. I don’t support anything that will enable more taxing and spending for this legislature.

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They raised taxes across the board just a few years ago without this bill. I don’t understand your logic.

Voting yes, is similar to giving a highly leveraged, crack addict 20 bucks so they can blow it away gambling

likefunnyhelpful

Voting no, only because the break to the lower brackets is so small. I would support a progressive tax with more benefit to lower earners than this.

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I’d vote yes for this reason and push for breaks later. Lock in the top bracket, since they have the $$ to fight it.

I make right on the cusp of 250k so will likely affect me in the next few years. Vote Yes - I align with the belief that higher income households should pay more in tax.

likefunny

Voting yes. I agree with what others have said on here about outflows etc but this is about allowing graduated taxation which is not only fair but also how majority of other states do it (for all those saying the wealthy will leave, more than likely would want to move to another graduated tax state). We can continue to fight for lower taxes and better spending but this allows for a more just tax system.

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Well said

I was originally going to vote yes because I'm below 250k. Then I heard Pritzker himself say that if the fair tax doesn't get approved, he'll increase taxes on everyone and then look to cut spending.

My thinking, wouldn't you look to make the hard decisions now by cutting spending? Why threaten to raise taxes if you don't get your way? This seems like a lazy government.

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Because he’s never going to cut spend nor will any other Illinois governor.

Taxes will go up and we’ll just keep giving the drunk another drink until everybody leaves.

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Thankfully, IL saw through the BS of this amendment.

likeuplifting

Unless we get sustained GOP majorities nothing will change. The new guard of dems want to spend even more and are still beholden to existing Illinois power structures.

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Voting no. The suggested tax break down essentially keeps the tax rate at current levels for the lower brackets and then raises taxes above income at a certain amount by 3%. If the goal of the tax is to relieve pressure on the bottom, why not reset the rate back to what it was before they hiked the tax by 2% in a midnight session to stave off default a couple of years back? And then graduate the increases a bit more elegantly. It appears to me that this hands the legislature an open check to keep kicking their pension obligations down the road instead of passing a balanced budget that helps all IL residents. (This is coming from someone who's a reliable D voter and fairly progressive...before the comments start coming)

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This is, I guess the extension of my logic: keeping the tax flat means that they can’t raise taxes without consequence. By taking that option away, I would hope to force them to make some difficult choices about where they invest (or don’t) now. I’m all for a progressive tax, but I see this as a “get out of jail free” card that they haven’t demonstrated to me that they’ve earned.

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Also, my other argument for voting no is that it becomes so much harder for the state legislature to increase taxes when the taxes affect everyone. When you have the ability to levy taxes on individual groups of people, it’s way easier to push additional taxes off one by one on specific groups. Then finally we all pay more taxes anyways.

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Absolutely voting NO. Flat tax is the only way to go

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I really don’t understand how you could possibly think a flat tax is fair. The tiniest bit of research and you would see how much more disproportionately it hurts low income people.

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