Time for a state graduated tax rate
When Rauner won the governorship 30 months ago, he allowed the Quinn temporary 5 percent Illinois state tax rate to fall to 3.75 percent. That's led to a $4 billion loss in revenue per year, based on the 2014 budget projected individual income taxes of $16 billion.
Now Springfield is so desperate for funds there is talk of raising the state income tax rate back up to 4.99 percent. Why not be fair for once and institute a graduated tax rate? People making less than $45,000 pay 3 percent, $45,001-$90,000 pay 4 percent, $90,001-$180,000 pay 5 percent, and anything above pay 6 percent.
Millionaires and minimum wage should not pay tax at the same rate.
Dave Volkman
Naperville