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Does anyone know were I can find a list of which Illlinois counties are net state tax/spending “winners” and “losers”?
posted by Rich Miller
Saturday, Nov 13, 04 @ 3:28 pm
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If you find one, could you post it? I’d like to see which counties would win or lose if we passed HB 7294 which would raise the income tax to 4% but also raise the personal exemption from $2,000 to $12,000. I suspect that 98 or so counties would be a big winner, but would love to get some numbers on it.
Comment by Dan Johnson-Weinberger Sunday, Nov 14, 04 @ 3:51 pm
Which counties would be losers? Cook?
Comment by Rich Miller Sunday, Nov 14, 04 @ 6:17 pm
I think DuPage would pay more. Maybe Lake. Maybe McHenry. Cook might not (but parts of Cook would). The kicker is that the people who pay more to the state get those extra state taxes subsidized by the feds, because they can deduct the state taxes from their federal returns, which only mid- to high-income people do. So to subsidize our state government (another way of bringing back federal dollars) we should put more of the state tax burden on mid- to high-income taxpayers than we do now.
Comment by Dan Johnson-Weinberger Monday, Nov 15, 04 @ 10:53 am
Yeah, but don’t forget about that dreaded alternative minimum tax, which is hitting a lot more than just upper-income people these days.
Comment by Rich Miller Monday, Nov 15, 04 @ 1:38 pm