Governor Bruce Rauner wants to balance the budget on the backs of the most vulnerable members of our communities. Last week, the Keystone Research Center and Good Jobs First gave us one more reason why this doesn’t make sense. Their report Tax Fairness: An Answer to Illinois’ Budget Problems breaks down how those with the most money in Illinois pay the least in taxes.
If the richest 20% of income earners paid the same rate as the middle 20%, Illinois would generate $8.6 billion per year. In other words, Illinois subsidizes its wealthiest residents by $8.6 billion yearly.
This means that the governor’s budget cuts are not only harmful, they are completely unnecessary. Read the full report for more about how Illinois’ tax system is unfair and over-burdensome to the poorest in our state.