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Looks like we're poised to call a vote on the Fair Tax amendment around 1pm today. Will post updates in this thread.
This is maybe the most important vote I'll take in my entire career. Let me explain.
This is maybe the most important vote I'll take in my entire career. Let me explain.
In their infinite wisdom, the drafters of the 1970 Illinois Constitution put in a provision mandating one flat tax rate on all income.
That's resulted in a broken system where poor people pay way more in taxes than the 1%. (Sales, excise, and other taxes being very regressive.)
That's resulted in a broken system where poor people pay way more in taxes than the 1%. (Sales, excise, and other taxes being very regressive.)
It's also meant that we have a revenue crisis in the state. Because taxing one person means taxing everyone, politicians are reluctant to raise revenues. So spending on basic obligations — schools, healthcare, etc. — have outpaced tax receipts.
