Rauner wants new service tax, cuts to income tax, freeze in property tax
Thursday, Jul 17, 2014
* The full plan is here. My initial take is it looks both fairly specific and pretty darned gutsy, which are both rarities from Bruce Rauner.
However - and this is a huge “however” - Rauner’s own data shows that a wide service tax would only raise $577 million a year. That’s barely a drop in the bucket. You can’t noticeably cut the income tax and expect to freeze property taxes on a mere half bil in new revenues…
* From a recent Paul Simon Institute poll…
So, the opposition to a service tax is pretty nearly as strong as opposition to extending the income tax hike.
…Adding… Rauner’s plan exempts those particular services. And they must’ve tested this other stuff. We’ll see.
* Also, he wants to tax radio and TV advertising. Yikes. That takes some stones, man.