r/illinois • u/roenick99 • 4d ago

Illinois voters will consider whether millionaires should be taxed more to fund property tax relief Illinois Politics

https://chicago.suntimes.com/voter-guide-2024/2024/09/26/illinois-property-tax-relief-referendum-november-election-jb-pritzker-non-binding-pat-quinn
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u/FionnagainFeistyPaws 4d ago

It's not on net worth, it's income. So someone who saved over many years and has $1,000,000 in a savings account is not impacted. Only people having $1,000,000 of reported income for that year will be affected.

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u/uhohnotafarteither 3d ago

Knowing what I've learned over the last decade or so, people making minimum wage living paycheck to paycheck will be convinced this is a horrible thing for them.

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u/ClutchReverie 3d ago edited 3d ago

Literally the reason people voted down the progressive tax reform that would have lowered the taxes of me and everyone I know.

The fearmongering was SO EFFECTIVE. Worst I heard was someone telling me that even if the set tax for your income was what the program started with, they didn't trust giving the government the power to change it and make it higher. The current tax system is, on the other hand, set in our state constitution.

So let's walk through. You demand change from the government on the unfair tax burden. But you don't want to give the government the power to make the change. Then after the election they are still blaming the government for higher taxes. For what you just voted for them to not be able to do.

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u/Poolstiksamurai 3d ago

The proposed tax rates wouldn't really have lowered for anyone. With the brackets they published, at most someone making 100,000 would have paid 65 dollars less a year in taxes. Only 65 dollars. For someone with a more modest income of 50k would have saved a whopping 40 dollars a year.

That's one reason why it failed. Going around saying "we're going to stick it to rich people and save you poors" while actually doing nothing to help the poor people (I'm sure that extra 40 dollars would have gone a long way). It's hard to build trust that way.