A few comments from a Christian Science Monitor article.
Ralph Martire, executive director of the Center for Tax and budget Accountability, a bipartisan think tank in Chicago. He describes the scope of the tax increases as “transformational.”
But the financial crisis in Illinois is unusual. The state had no choice but to raise taxes, Mr. Martire says: Cutting spending was not a viable option because already, major cutbacks had been made and spending is at a historic low. Then there is the debt: The state already owes $8 billion to vendors, including social service agencies.
A more reasonable measure moving forward, Martire says, would be to overhaul the state’s tax system. He calls it “underperforming and antiquated” for not addressing modern tax growth, leaving out the service sector in its sales tax, and not taxing according to income, which he says hurts lower- to middle-income families.
the tax rates you face. Looks like 6.15% to 7.75% compared to Illinois 5%. Things are greener on which side of the fence?
