Fair Tax change would be good for Illinois

A recent article talked about the huge amount of money that Ken Griffin, the founder and CEO of Citadel investment, is donating to a political fund to defeat the Fair Tax amendment. How much would the Fair Tax affect these very rich people? Perhaps the question to ask is what is the value that the state of Illinois, where they live and their business is located, will enjoy. These successful business people know that it is important to invest in order to make money, and Illinois needs investment to grow our state's future where we all can benefit.

Illinois has a history of disinvestment that has contributed to our high property taxes. Even though the majority of our school funding should be paid for by the state, this has not happened and communities have taken over the funding for school districts through property taxes. We would all benefit if the majority of school funding were paid by the state's revenues and all school districts in the state were more evenly supported financially. Ultimately, a graduated income tax should drive a decrease in property tax reliance to fund local schools.

Over 30 other states and the federal government rely on a graduated income tax structure. Even our neighboring states, Wisconsin, Iowa and Minnesota have a graduated income tax with a higher top tax rate than what will be voted on for Illinois. The burden should not be on the lowest 20% of wage earners to have twice the tax burden of the top wage earners.

Successful business people know that investment matters and helps a business grow. The same is true for the state that we all live in and want to be successful and prosperous. Voting for the Fair Tax Amendment is the start to moving Illinois on a path forward.

Laura Davis

Inverness