Under a flat tax, everybody is supposed to pay the same 4.95% in taxes, but that isn’t how it actually shakes out. Under the current flat tax system, the lowest 20% of income earners in Illinois are hit with double the tax burden than top 1% of income earners.
In fact, Illinois has the eighth most regressive tax structure in the nation, with the bottom 20% of earners paying more than in any other Midwestern state. That’s because our state and the local governments rely on a patchwork of high property taxes and consumption taxes like the gas taxes, to pick up the slack for keeping income tax low for the rich.
If we do not implement a fair tax, we would have to look at drastic solutions such as cutting all spending by 15% or raising taxes by 20% on all Illinoisans.
Over the past 20 years we have seen huge cuts to essential services; higher education (-52%), healthcare (-22%), human services (-28.8%) and public safety (-20.7%). With so much of our infrastructure and services already gutted, it has become clear that our state cannot cut itself out of the structural deficit, and has become obvious that raising revenue is a must.
By calling on the wealthy to pay their fair share, the Fair Tax would raise an additional $3.4 billion in annual revenue, 97% of Illinois residents will see their taxes cut and only those making more than $250,000 a year will pay more.
The Fair Tax could begin repairing the harm done, and open the possibility of establishing new needed programs, that will help millions of Illinois Families.
Vote yes on Fair Tax
Sonny Garcia, Bloomington
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