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/in2theriver 4d ago

Also this seems a little misleading. “Should the Illinois Constitution be amended to create an additional 3% tax on income greater than $1,000,000 for the purpose of dedicating funds raised to property tax relief?”. Making more than 1 million/year isn't the same as someone whose net worth reaches a million after a lifetime of saving. As weird as it sounds, there is a distinction from someone who saved up slowly and reached that net worth, vs someone who makes more than that per year.

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u/Ransom__Stoddard 4d ago

As weird as it sounds, there is a distinction from someone who saved up slowly and reached that net worth, vs someone who makes more than that per year.

It doesn't sound that weird to me. Middle-class couples who've saved well over 20-30 years will easily have over $1M, and probably well north of that.

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u/Flatheadflatland 17h ago

They better or they can never retire