Tax-hike arithmetic doesn't sound so bad
In Dan McCaleb's Aug. 2 column, he states that the average increase in the state income tax will be $1,000. I'm not an accountant, but I can do simple math, and by my reckoning, a 1.2 percentage point increase in the tax rate that results in an additional $1,000 in taxes would require a "Net income" (IL-1040, Line 11) of approximately $84,000. Not too shabby.
David J. Wagner
Bartlett
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