Progressive Income Tax – What does it really mean?
A great explanation and more charts from the folks at Wirepoints
Another progressive income tax scheme was part of HB 3522 filed by Madigan lieutenant and Democratic State Rep. Robert Martwick. Instead of our current flat tax, this bill creates graduated income tax brackets so individuals are taxed at different rates depending on their income level. The “Madigan Tax” filed by Martwick uses these brackets:
|Income Range||Current Flat Tax||Madigan Tax||% Change|
|$225,000 and up||4.95%||7.65%||55% increase!|
See for yourself here!
What else can they tax?
Democrats are running out of ways to bleed Cook County dry so they are heading our way. Check out all these taxes that could be coming to DuPage if we elect people cut from the same cloth:
|Average Sales Tax (varies by municipality)||7.75%||10.25%|
|Motor Fuel (varies by municipality)||4¢/gal.||6-10¢/gal.|
(movies, bowling, golf, cover charges, theatre, pretty much any special event admissions…)
|Streaming Tax (Netflix, Spotify, SiriusXM, Hulu, Amazon Prime, XBox Live…)||None!||9%|
|Water Bottles (that’s $1.20 per case!)||None!||5¢ each|
|Checkout Bags||None!||7¢ / bag|
|None!||1 ¢ / oz.|
Follow, my friends, and you will see
The taxing plans of one “JB.”
The big guy with a bigger heart,
Who thinks his friends should give you part
Of their great wealth. But here’s the thing:
All of us will feel the sting!
“Tax the rich!” JB will say,
But a progressive tax won’t work that way.
Check out the charts above to view
JB’s taxing plans for you!