Focus taxes on those with highest income growth
I am a member of the League of Women Voters living in state Rep. Diane Pappas' district. I strongly urge Rep. Pappas to support SJRCA1, the Fair Income Tax amendment. This bill would give people the opportunity to vote on amending the Illinois Constitution so Illinois can have a fair graduated-rate income tax.
The constitutionally required flat tax is unfair because the lowest 20% of income earners pay 14.4% of their income in combined taxes, while the top 1% of income earners in Illinois pay only 7.4% of their income in combined taxes. This makes no sense -- middle and lower income earners spend most or all of their earnings for necessities, supporting the economy, while the discretionary spending of higher income earners is relatively unaffected by taxes.
With Gov. Pritzker's rate plan -- which is very similar to the most recent plan advanced in the legislature -- 98.1% (53,452) of the taxpayers in House District 56 would pay the same or less in income taxes as they currently pay, while only 1% (63) are millionaires who would pay the top rate.
I am most concerned that, since 2000, spending on health care has been cut 22% spending on higher education has been cut 52%, spending on public safety has been cut 22.6% and spending on human services has been cut 28.8% in Illinois when figures were adjusted for inflation and population.
Spending cuts are not the answer. The state must raise revenue, and those funds must come from the sector of the population which has realized the most income growth over the last 40 years -- the highest income earners.