Illinois Policy’s Adam Schuster On Why The Fair Tax Isn’t So Fair
The "Fair Tax," or "Progressive Tax" as it's being called, opens the doors for a variety of other taxes that will have a big impact on all Illinoisans, not just the rich ones.
As we learned this morning from Illinois Policy's Director of Budget and Tax Research Adam Schuster, We Illinoisans could see our taxes on the same dollar earned doubled or tripled in the form of a special tax (income or sales) levied for public safety or pensions.
And, as Adam pointed out, all 32 states with a progressive income tax also tax retirement income.
Here's our interview with Adam, where he explains why this is not the time for the 3rd tax increase in Illinois in 10 years: