Strippers, Smokes and Sneakers? What Will Illinois Tax Next?
Lawmakers proposed new taxes on oil rigs, license plates, satellite TV, strip clubs and more to find money for schools, parks, youth centers and crisis centers. Reboot Illinois talks taxes.
Photos
Our friends at Reboot Illinois, a news website dedicated to improving the state of our state, put together a detailed infographic on Illinois taxes in light of news that the temporary income tax hike passed in 2011 could become permanent. State Rep. Lou Lang, D-Skokie, has proposed a bill that would extend the increases indefinitely.
Can legislators afford to roll back the tax hikes as planned? The answer is, pension reform notwithstanding, no.
In 2012, the state collected almost $20 billion dollars in personal and corporate income tax revenue, a 79 percent increase from 2010. Still, the state’s backlog of unpaid bills increased by 60 percent and its unfunded pension liabilities went up by 13 percent over the same time period.
Economists have said making the tax hike permanent is likely necessary as a step to restore Illinois' finances. Most of the state's new tax revenue last fiscal year went to the woefully underfunded state pension system.
Want to know more? Visit Reboot Illinois for the full package on taxes.
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Dr Silicon
9:26 am on Friday, March 22, 2013
I just don't think you should increase the price of a license plate to pay for state parks (like they did) if state parks need money charge to enter LIKE EVERY OTHER STATE or require people to purchase a yearly pass. If there isn't enough money in the area for the state park close it, probably the best thing for ecology anyhow. People should be allowed to VOTE with their dollars and pay for what they want not let the government decide what is best for them.