Tag Archives: Taxes
By Brittany Smith, World Magazine
President Barack Obama makes it sound as if there are millionaires all over America paying taxes at lower rates than their secretaries. “Middle-class families shouldn’t pay higher taxes than millionaires and billionaires,” the president said Sept. 19.
The data tell a different story, though. On average, the wealthiest people in America pay a lot more taxes than the middle class or the poor, according to private and government research. The wealthy pay at a higher rate, and as a group they contribute a much larger share of the overall taxes collected by the federal government.…
How did they vote?
Illinois lawmakers approved a 66 percent increase in the state’s income tax in the final hours of a lame duck session.
Despite tens of thousands of calls, emails, faxes and letters in opposition to increased taxes, our state legislators decided to raise the state’s personal income tax from the current 3 percent flat rate, to 5 percent and the corporate income tax rate from 4.8 percent to 7 percent.
The bill number is SB 2505.
In the Illinois House, our state representatives voted 60-57 in favor of this measure late Tuesday night. (The House needed …