\u201cWe don\u2019t lower taxes here in Illinois,\u201d State Representative Tim Schmitz (R) 49th district, said. \u201cI\u2019ve been here for fourteen years and we\u2019ve never done that.\u201d <\/p>\n
\u201cEven if it means lowering those taxes would bring in more than $6,300,000,000 in revenue for Illinois?\u201d she said she asked.<\/p>\n
She could hardly believe her ears. Perhaps he didn\u2019t understand. So she explained how a graduated income tax would work for Illinois. She pointed out that forty-three states already have this kind of tax, that it would provide relief for middle and low-income residents, and that research has shown it boosts consumer spending and the local economy. <\/p>\n
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A graduated income tax, as Iowa has, would actually lower taxes for 54% of Illinois residents and would bring in an additional $6,300,000,000 in annual revenue, according to research<\/a> done by the non-profit bipartisan research group called Center for Tax and Budget Accountability<\/a>. <\/p>\n She knew she was telling Representative Schmitz solid facts. She knew what the research group had concluded. <\/p>\n \u201cIllinois has historically been one of the most unfair taxing states in the U.S,\u201d the Center\u2019s summary of their research states. The summary further adds, \u201c\u2026data indicate that Illinois\u2019 lack of tax fairness has both contributed materially to the state\u2019s ongoing General Fund budget deficits and harmed Illinois\u2019 private sector economy.\u201d <\/p>\n Those are some pretty strong words from a non-profit bi-partisan research group. But she said Representative Schmitz would have nothing of it. <\/p>\n The elderly lady had traveled to Springfield Tuesday, May 22 to speak with Mr. Schmitz about alternative solutions for fixing the budget that do not involve raiding state workers\u2019 pensions and cutting social service programs for vulnerable Illinoisans. <\/p>\n Clearly, Mr. Schmitz was not listening to her reasoning, so she said she proposed he consider a Speculation Tax on trades at the Chicago Board of Options Exchange and the Chicago Mercantile Exchange. <\/p>\n \u201cI don\u2019t know what you\u2019re talking about,\u201d she said he told her in a condescending tone. \u201cPerhaps I could google it,\u201d he suggested rather wryly. <\/p>\n \u201cA $1.00 tax on those trades would bring in about $6,000,000,000 to Illinois\u2019 coffers,\u201d she pointedly told him. <\/p>\n