Who pays more taxes?
Currently in Illinois, if somebody earns $10,000 per year and the personal income tax rate is 5%, they would pay $500 per year in state income taxes.
If somebody earns $10,000,000 per year and pays 5%, they would pay $500,000 per year.
Who is paying more? Seems fair to me. Remember, the state income tax rate in Florida is ZERO!
Bill Hartman
Barrington
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