Calls to ‘Soak the Rich’ Will Haunt Illinois Taxpayers

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Chicago – Taxpayers United of America (TUA) urges the Illinois General Assembly to reject the proposals to amend the Illinois Constitution and implement a graduated income tax by opposing HJRCA59 and HB689.
“On behalf of TUA’s membership of tens of thousands of Illinois taxpayers, we call upon the Illinois General Assembly to defeat Rep. Christian L. Mitchell’s (D-26, Chicago) proposed graduated income tax constitutional amendment and Deputy Majority Leader Rep. Lou Lang’s (D-16, Skokie) legislation proposing rates under a new graduated income tax. Enacting these changes to the state income tax would have devastating consequences for Illinois’ economy and its taxpayers,” said TUA director of operations, Jared Labell.
“Approving the graduated income tax constitutional amendment and corresponding legislation will not come close to solving the state’s budget impasse. The projected $2 billion in additional tax dollars extracted from taxpayers won’t even cover the state’s current budget deficit. This legislation will further encourage residents to join the exponentially growing group of Americans known as Ex-Illinoisans.”
“Most importantly, amending the Illinois Constitution to permit a graduated income tax gives the Illinois General Assembly alarming power over the state income tax rates at a time when Illinois’ finances are clearly troubled and politicians are more likely to make shortsighted policy decisions with far-reaching repercussions.”
“We have witnessed tens of thousands of taxpayers leave the state in the past few years since the temporary income tax increase in 2011. Illinois is facing a $10 billion budget shortfall by this summer. The state has the lowest credit ratings nationwide and by far the worst-funded government pension system. Illinois has recorded fourteen straight years of budget deficits and is in its tenth month without a state budget,” said Labell.
“If members of the Illinois General Assembly wanted to prove to taxpayers that they are acting in good faith to resolve decades of financial mismanagement, then there would be a bipartisan effort to amend or repeal the Illinois Constitution’s pension protection clause, one of the leading drivers of the state’s poor financial position.”
“Instead, however, legislators are once again focused on misappropriating billions of dollars from taxpayers by attempting to appease the public’s calls to ‘Soak the Rich!’ without letting them in on a little secret. The fact is, tax rates can be altered, promises from the government can be broken, and there is no reason to believe that Springfield won’t come for your wallet if Illinois’ financial fiasco continues unabated,” said Labell.
“Soaking the rich today opens the door to plundering everyone else tomorrow. Illinoisans must understand that the state needs to cut spending and undergo systemic reforms. Resorting to a graduated income tax will only put more power in the hands of a legislature that has run amok with Illinois’ tax dollars for decades. Taxpayers should contact their legislators and demand that they reject the passage of HJRCA59 and HB689.”