July is sweat-and-fret month for many taxpayers in Illinois: How will households slammed by job disruptions and a public health contagion now pay their property tax bills? Those local taxes gouge virtually everyone: Employers and homeowners — or whoever services their mortgages — make most of these payments to the county treasurer; renters indirectly pay property taxes in rent to the landlord.
And after the pending property tax deadline, another threat looms. Voters this fall will decide whether to let their politicians raise state income taxes or instead force them to clamp down on state spending that just grows and grows.
What we call the proposed “Pritzker Tax” — named for Gov. J.B. Pritzker, who calls it a “fair tax” — would replace Illinois’ constitutionally protected flat-rate income tax with graduated rates. The change would make it easier for politicians in Springfield to raise income taxes. Currently, a tax hike requires more heft from politicians because it affects every taxpayer. Tinkering with a graduated structure is a softer lift.
Oh! We’re just raising this itty-bitty rate on this itty-bitty group of people. Those itty-bitties add up.
As a voter, you’re supposed to trust Illinois politicians. Trust that they’ll give you property tax relief. Trust that they’ll start passing smarter budgets. Trust that they’ll undo some of their past mistakes. Oh, and trust that they’ll only slap this top itty-bitty 3% of taxpayers with higher tax rates — as if higher earners are to blame for this state’s fiscal mess. You’ll see ads urging you to trust the pols, including the most influential pol, House Speaker Michael Madigan, and vote yes on the Pritzker Tax amendment. Pritzker dumped more than $50 million of his own money into the campaign to get it passed.
Read more of the Chicago Tribune Editorial Board’s opinions here.
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