Voters are asked to vote on an increase in the Illinois state income tax Nov. 3. The claim is that the top 3% of income earners are the only ones who will pay more, while the rest of us will pay the same or less. The tax would go to 4.75% (currently 4.95% regardless of income) for earnings of up to $100,000, going up to 7.99% for all income above $750,000. Sounds pretty good, doesn't it? The problem is that this type of graduated tax has not lowered taxes for the middle class in other states that have tried it (look up New Jersey and Connecticut). The main reason is that the increase is never enough for the officials in states that should try to control spending. Gov. Pritzker means well, but is evidently influenced by the "tax and spend" tendencies illustrated by the past 40 years of one party rule in the legislatures of Illinois.
More importantly, at a time when the federal and state governments are allocating monies to save businesses and their employees from losing everything, we are going to increase taxes on them? Many of these entities are small business companies. All reports show that these small companies hire a majority of workers in our state. These small business owners come up with an idea, risk their money and work 24-7 to be successful. They create employment and pay taxes. These people would be the ones hurt the most. We would drive these productive people out of this state. Illinois is already the second to the top of states in the U.S. losing population and we have the second-highest property taxes in the U.S. These people are also the most generous donors by far to the local charities I have been involved with for the past 20 years. There are better ways to increase revenue and balance our state budget. A yes-vote to change our Constitution will hasten the direction of Illinois to become the Venezuela of the United States.