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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
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.
ZS sounds like you should move to NW Indiana with that other guy. Enjoy! 😂
My buddy posted this message:
I urge everyone in Illinois to vote against the “Fair” Tax. Currently, we are insulated, to a degree, from such tax increases by the Illinois constitution as we have a flat tax. Repealing this provision would grant the legislature the ability to increase income taxes on various income groups without requiring a constitutional amendment or any further consent from the people. Right now, the proposal is palatable. It only affects people making more than $250,000, and if that is not you, I completely understand why you would support the current proposal. However, if this amendment is passed, there is absolutely nothing stopping future legislatures from raising taxes (simply requiring a majority vote) on those making far less than $250,000.00. Keep this in mind when you cast your vote.
Let’s be clear, taxes in Illinois should be reformed, but Springfield needs to show that they have their spending priorities in place before asking for yet another handout from its citizens.
Voting No because the "lower" rate for 97% of the population is .20%. That is nothing more than a marketing tactic. What it does do is set things up to raise brackets in the future which WILL happen. It also will make the corporate tax rate the 2nd highest in the nation. It will then allow Prtitzker and Madigan to dole out more contracts to their corrupt buddies. Why else would JB spend $40 million of his own $s on classware ads???
Maybe in 2 years they can put the graduated tax and the pension clause up for a vote again and tie them together somehow.
Rising Star
DD1 - Um there was no ballot amendment on pension reform that ever passed. If it did then the court wouldn't get involved because the constitution would have been amended
No
Voting ‘no’ but not sure the Fair Tax will impact things all that much. My sense is that if it passes, it’ll be just one more signal to companies/individuals who were considering staying in Illinois to move. There are so many mid-size alternatives to Chicago that are much more liveable than they were 20 years ago.
I’m voting yes because taxing the rich means taxing the rich, even if I am rich
Wut?
I don’t know how to fix the pension problem without either raising taxes or breaking a promise...
Can’t raise taxes high enough to protect that promise. Everybody will bail
Voting no doesn’t mean they can’t raise taxes, it just means they get raised on everyone. So it doesn’t really do anything to stop corruption or mismanagement, it just punishes people who don’t make a lot of money more than people who do.
Agreed, it would be harder, but if they have no choice it will happen nonetheless.
Yes
A lot of folks have mentioned the pension issue, is anyone educated on the specifics? I understand pensions are guaranteed and we don’t have enough money to pay but who are the pensions for? And how would we “fix” them.just curious to understand the problem
Restructuring of debts may become necessary soon.
But another step that should be taken is to start taxing the very pensions that are the problem.
Others states treat pensions as taxable income. Illinois needs to get with the program.