Under the proposed progressive income tax from state Sen. Don Harmon,
D-Oak Park, anyone making more than $180,000 a year would be taxed at
Anyone making more than $1 million would pay an additional 3 percent
for the proposed millionaires' tax.
PAY TWICE: Sen. Don Harmon with Rep. Christian Mitchell, D-Chicago, say
top earners in Illinois will pay twice under the progressive tax and the
"We've proposed a comprehensive rate structure that works with, or
without, a millionaires' (tax)," Harmon said.
Powerful House Speaker Mike Madigan, D-Chicago, is backing the
millionaire's tax as a way to get more money for schools (and tweak uber-wealthy GOP gubernatorial candidate Bruce Rauner)
But Kristina Rasmussen, vice president of the Illinois Policy Institute,
said the message of the dual taxes is clear: Illinois is discouraging
people from earning a decent income.
"Illinois should be focused on getting rid of government-imposed
disincentives to work — not making them worse," Rasmussen said. "The
proposed tax on job creators is a cynical political move that has nothing to do
with good public policy."