> A model for the nation: Illinois seeks 3% extra income tax on millionaires

SPRINGFIELD, Ill. (WAND) — Former Illinois governor Pat Quinn hopes to see lawmakers pass a property tax relief plan within the next two weeks. The Democrats want state leaders to allow voters to decide if Illinois should have a millionaire tax.

Quinn frequently tells legislators and reporters that millionaires should pay a 3% surcharge on their income taxes to help lower property taxes for families and businesses. Recent data show that Illinois has over 77,000 millionaires, who make up 1.2% of the state's income taxpayers.

"Illinois has an unfair tax code, one of the worst in the whole country," Quinn said Monday. "It's an upside-down tax code that gives tax breaks to millionaires and higher property taxes to everyday people who are trying to stay in their home or get a home."

Over 60% of Illinois voters supported the statewide advisory referendum in 2024, and the Illinois Department of Revenue estimates a millionaire tax could generate $4.5 billion per year.

Gov. JB Pritzker knows Democrats have several proposals for a millionaire's tax, including one plan that would provide direct relief to property taxpayers and another that would split the money between education funding and tax relief. However, the Democrat told reporters earlier this month that no single plan will address the issue as he believes it needs to be tackled by multiple agencies.

"At this point, if we can just keep property taxes from going up, that would be a huge benefit to people across the state," Pritzker said. "Instead, every year, it seems, property taxes keep going up and up and up."

Constitutional amendments require support from at least 71 members of the House and 36 senators.

Lawmakers would need to approve this question by May 3 for it to appear on the November ballot, but the House and Senate are only scheduled for three session days each before that deadline.

Some Democrats are concerned about putting this question on the general election ballot while they try to win more seats, and Republicans strongly oppose the idea.

"This is another push at a graduated income tax, and the voters already spoke," said House GOP Leader Tony McCombie (R-Savanna). "We do not want that."

One of the millionaire tax constitutional amendment questions could be discussed by the House Revenue & Finance Committee Thursday morning, but state representatives will also leave Springfield that afternoon. The Illinois Senate resumes session April 28.

"To turn their backs on property taxpayers would be very disappointing," Quinn said. "That's not what the people want. The people have spoken, and it's time for the elected officials to respond."

https://www.wandtv.com/news/statehouse/ … 1ec50.html

Sockpuppet wrote:

It’s a great idea. I hope it passes.

WRONG!!!

why only 3%?

anon user #3 wrote:

While I agree with you that the tax should be higher, I feel it is a great start.

In thinking perhaps it should be a wealth tax which starts at 3% at 1 million then for every additional million it goes up 0.1%.  So someone with $10 million would pay 3.9%.  Someone with $20 million would pay 4.9% and so on.  This way billionaires could not exist.  At least not for long.

YOU REALLY HATE AMERICA!!!

anon user #3 wrote:

While I agree with you that the tax should be higher, I feel it is a great start.

In thinking perhaps it should be a wealth tax which starts at 3% at 1 million then for every additional million it goes up 0.1%.  So someone with $10 million would pay 3.9%.  Someone with $20 million would pay 4.9% and so on.  This way billionaires could not exist.  At least not for long.

God damn are you poor.

A million isn't that much these days. People with tens of millions and hundreds of million are a distinctly greater issue.

You are so poor and misguided. It's sad that you can't see the world beyond the hole of poverty that you've dug yourself into.

It's not anybody else's fault you didn’t get money out of your relations or whatever your beef is. Boomers worked for 30+ years to have wha they have, and it's still not enough for elder care. Maybe you should get a real 40 hour a week kind of job and shut the fuq up?

anon user #3 wrote:

This is great!  But make it a wealth tax instead!

Pay up, deadbeats!

https://www.reddit.com/r/illinois/comme … s_approve/

as if people aren't already leaving in droves

Suck it Liberals! wrote:

YOU REALLY HATE AMERICA!!!

She thinks she is entitled to your money just for existing.

Newsflash for AU: the more benefits you give people for not working the less people you have working.

No big deal they will just raise the price of their products

Iman wrote:

No big deal they will just raise the price of their products

Troof.  You can't tax a corporation.

anon user #3 wrote:

While I agree with you that the tax should be higher, I feel it is a great start.

In thinking perhaps it should be a wealth tax which starts at 3% at 1 million then for every additional million it goes up 0.1%.  So someone with $10 million would pay 3.9%.  Someone with $20 million would pay 4.9% and so on.  This way billionaires could not exist.  At least not for long.

You wouldn't have to worry about them for long.   You start with "millionaires", a term you do not define, so it starts with people with a worth one million dollars or more.   Today, it's pretty hard to NOT be worth that much, living any kind of responsible life.

That said, anyone who has, or THINKS they might earn their way to millionaire status, WILL PROMPTLY LEAVE ILLINOIS FOREVER.  The "billionaire" problem will solve itself even faster. 

Money goes where it's treated well, or at least with some respect.   You show it neither.   Your concept is insane, and guarantees failure.

wrote:

A 3% haircut for having a "million" is idiotic.

GET A FUQING JOB

That's why he's now a member of the "CI  insane squad".   They ALL want your money and think they handle it better than you.

Our "fleece the rich" tax law is better.  It's MUCH BIGGER AND BETTER!!  Who would leave the paradise of Illinois anyway?   The suckers will never leave!!
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