* Laura Washington writes about an unusual march that kicked off at noon today in Chicago…
Nanton was among a group of activists announcing they will march from Chicago to Springfield, 200 miles over 15 days, to demand a “People and Planet First Budget.” […]
Her coalition, Fair Economy Illinois, composed of immigrants, veterans, people of color, students and churchgoers aged 23 to 90, wants to eliminate corporate tax loopholes, install a transaction tax on La Salle Street trades, and ask wealthy folks to pay more. Those strategies could raise, they say, $23 billion in new dollars and end Illinois’ stultifying budget crisis.
It’s a welcome tactic. The marchers will hit town hall meetings, listening sessions, dinners and sleepovers, reaching out to suburban and rural residents to tout a budget “that puts people and planet ahead of corporations and billionaires,” says their press release.
Nanton, 30, declared she will march for “hope.”
“Young people in my community don’t have to be dying,” she exhorted. “Kids should be able to come home or be at after school programs, practicing an instrument that they love because we have fully funded music programs, instead of picking up a gun because they have no hope,” she shouted as her fellow activists urged “Amen.”
* And the marchers aren’t just focusing on Gov. Rauner…
A tax on La Salle Street trades is something that’s been pushed for a while by the Chicago Teachers Union, among others. It’s a way of avoiding taxpayer ire by focusing on someone else - a wealthy someone else. But it’s just more magical fairy dust, like saying you’ll cut unspecified “waste and abuse” to balance the budget. And neither is a graduated income tax as long as there aren’t super majorities in both legislative chambers in favor of it.
- The Captain - Monday, May 15, 17 @ 1:03 pm:
Open outcry is gone, you no longer need to be on LaSalle street to perform the trading that happens there. You will never see any money from a LaSalle street tax, that business will move elsewhere and a brain drain will go with it. I’m fairly liberal but the way some are selling a LaSalle street tax is dishonest and it’s giving desperate people false hope.
- Dublin - Monday, May 15, 17 @ 1:23 pm:
I could be wrong, Captain, but I believe even if you traded virtually, it would still get taxed. Wouldn’t matter if you were in Mumbai, L.A., or Chicago - they would tax you on it.
- mama - Monday, May 15, 17 @ 1:24 pm:
IL needs more revenue and a ‘graduated income tax’ system is the most fair way to achieve more revenue.
- City Zen - Monday, May 15, 17 @ 1:27 pm:
Shouldn’t that be a Diehl Road Tax since CME trades are routed through a data center in Aurora?
- Fax Machine - Monday, May 15, 17 @ 1:37 pm:
Echoing your column last week, if Chris Kennedy takes the next steps and goes hard anti-Madigan, he can slay the Billionaire dragon in front of him.
- Downstate Illinois - Monday, May 15, 17 @ 2:13 pm:
Any tax hike should be broadbased and not targeted on those sectors where it would be easy to get up and move. Read the news about Connecticut. For years they’ve focused on taxing heavily the super rich. Apparently they’re running out of those folks, or if they’re still living there, they’ve found a way to shelter their income or change how it comes to them. All of a sudden their Democrat has reconsider the perverse incentives in their tax system has hurt their ability at a steady revenue source for state government. California has had the same troubles. Trying to get a major chunk from 1 or 3 percent of your population may sound good to the other 98 percent but it makes states very vulnerable to downturns in the economy as well as money flight as people and companies move to other lower tax states.
- Grandson of Man - Monday, May 15, 17 @ 2:38 pm:
Illinois has had low state income taxes for decades. It has big corporate tax breaks. This has been a huge problem, along with overspending and borrowing. The three combined over many years are huge recipes for disaster. I haven’t followed state politics until relatively recently, but I’ll accept any blame that belongs to Madigan over the years.
“as people and companies move to other lower tax states”
California’s economy is doing pretty well, as is Minnesota’s. It’s a myth that the super-rich are fleeing high-tax states like California. It’s propaganda. Taxing the rich more should absolutely be part of the solution, but it won’t be now, when we desperately need a budget.
- Dandy Edward - Monday, May 15, 17 @ 6:31 pm:
It is true that taxing the rich more will not solve the problem. California is not in good shape. Their pensions are in poor shape. Why do you think a lot of pro golfers live in Florida ? Phil Michleson is thinking of moving from California. Illinois is bleeding residents and tax revenue is not keeping up with expenses.
- Dandy Edward - Monday, May 15, 17 @ 6:36 pm:
What we need to do is cut the number of local governments in Illinois, opperate Springfield more efficienly and compensation for teachers and state employees under control. Too many people in government get benefits not available to people in the private sector. I agree the state needs to raise some more revenue, but not without business reforms Rauner wants.
- Oswego Willy - Monday, May 15, 17 @ 6:53 pm:
===…compensation for teachers and state employees under control. Too many people in government get benefits not available to people in the private sector.===
… thus why there’s protections for pensions in the constitution…
Whatever you think they need to make less… 8-9-10%… you send me that 10% of what you make.
A Republican ideal isn’t reducing what people make.
===I agree the state needs to raise some more revenue, but not without business reforms Rauner wants.===
Then you and Rauner are responsible for things like a child not having an oxygen tank, until that was brought to light.
You ding mind hurting people. Good to know.
- thechampaignlife - Monday, May 15, 17 @ 8:19 pm:
A larger tax rate with larger personal exemptions would be a good short term bridge towards a progressive tax.
- Arock - Monday, May 15, 17 @ 9:29 pm:
OW- maybe that child would have been covered by insurance if the parents could find work if the anti-business policies of the past hadn’t help lead to the exodus of good paying jobs from Illinois.
- Oswego Willy - Monday, May 15, 17 @ 9:34 pm:
===maybe that child would have been covered by insurance if the parents could find work if…===
No. Good try. No.
You can’t cheer for the holding of hostages then pass of the blame in any way, in real time those directly hurt be Rauner holding hostage social services.
Nope. Sorry. No.
“Short term pain for big long term gain”
Welp, the oxygen tank was short term pain.
Rauner owns it.