Illinois taxpayers already carry a very heavy burden, mostly because state employees have extremely expensive retirement costs. How long can the private sector float the public sector especially with all the Covid restrictions?
The state currently ranks seventh nationally in sales taxes and second in property taxes. But Illinois is one of only 11 states that have a flat income tax rate for all residents, regardless of income bracket. That rate is 4.95 percent. Democratic leaders, headed by Gov. J.B. Pritzker, want to change the flat tax to a graduated income tax in order to jack up the rate on the state’s wealthiest residents.
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