The Motley Fool Discussion Boards
Retirement Discussions / Retire Early CampFIRE
|Subject: Re: That Was Quick||Date: 10/13/2012 12:54 PM|
|Author: MadCapitalist||Number: 648613 of 722617|
This is interesting:
"The Illinois Constitution requires all Illinois taxpayers to pay the same tax rate. If a tax is levied on income at all, this is most fair and stable form of taxation because it allows everyone to pay the same percentage of income to taxes. However, a progressive tax plan being circulated across the state would tax Illinoisans at eight different rates, with the highest rate at 11 percent! This is unconstitutional and unfair."
From the Illinois Constitution:
SECTION 3. LIMITATIONS ON INCOME TAXATION
(a) A tax on or measured by income shall be at a non-graduated rate.
I wonder if they will try to amend the constitution or just ignore it. They will probably just ignore it.
|Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|