With Illinois in a perpetual budget crisis and Gov. Pat Quinn proposing deep cuts for Medicaid, pensions, and social services, a Chicago think tank wants to amend the state constitution so the state government can impose a graduated income tax.
The Center for Tax and Budget Accountability released a report today touting the benefits of a graduated income tax. This is compared to the status quo where all residents – from Derrick Rose to your neighbor – pay five percent of their yearly income to the state.
With Governor Pat Quinn expected to address Illinois’ nearly $8
billion in unpaid bills during his annual budget speech today, some
Chicagoans are calling on him to close three corporate tax loopholes.
A group of about 50 protestors belonging to Southsiders Organized for
Unity and Liberation and other organizations gathered outside the State
of Illinois building Tuesday afternoon to deliver a new fiscal policy report to the governor’s office.
“In the tradition of Carnival, today is called Fat Tuesday and tomorrow
is Ash Wednesday,” Rev. Marilyn Pagán-Banks, a member of Northside P.O.W.E.R.,
said at the protest. “Today we are calling on Illinois’ fat cats, these
corporate persons, to get their greed out of their system so that
tomorrow they can repent.”
The Chicago City Council passed a law today that will subtract a
person’s outstanding parking and speeding ticket debt, and other such
citations, from their state income tax return. The law is revealing of
Mayor Rahm Emanuel’s approach toward taxes.
The Chicago Tea Party may not like many things – taxes, Mitt Romney,
even the Republican Party. But the Tea Party did like a video made by
Andrew Marcus, which champions Chicago Mayor Rahm Emanuel’s education
Marcus, director of the video,
“A Tale of Two Missions,” produced by the Michigan-based Education
Action Group, was the featured speaker
at a Chicago Tea Party event downtown tonight.