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SPRINGFIELD (AP) — Top Illinois Democrats have agreed to push a plan that would temporarily boost income taxes by 75 percent and double cigarette taxes, Senate President John Cullerton said Thursday.
Illinois’ personal income tax rate, now 3 percent, would climb to 5.25 percent for four years under the plan Cullerton outlined. After that, it would drop to 3.75 percent.
That means someone who now owes $1,000 in state income taxes would owe $1,750 at the new rate, then $1,250 after four years.
Originally posted by marg6043
reply to post by thewholepicture
Actually in order to start the implementation of Obama care they need an initial budget just for that, to do this in many states that are strap for money and have huge deficits they either repeal the health care bill or increase taxes.
Like I say already in other threads the economy is going to be linked more than people think on the Obama care here in GA is going to cost 1 billion dollars to get started and this coming from the state along.
Open you eyes and see what is behind the tax hike.
Researchers at the University of Illinois-Chicago tallied the price of corruption to state taxpayers: at least $500 million a year. Based on prosecution costs and estimates that 5 percent of state contracts go to the politically connected, that equals $109 per family. The total is enough to pay the average salary for 8,214 public school teachers.