Wow, I didn’t realize that actually was an existing corpus of McCaskill hate writing! Remarkable.
I think the real point was to tax the rich more.
I mean if they say “Everything under 250K is taxed the same, everything above gets a ~3% increase”, what progressive thinks that’s a bad thing?
The problem isn’t that progressives think it’s a bad thing. The problem is that regular people have zero self-interest to vote for it.
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WAT? I get that it’s a bit attenuated, but rich people getting taxed more will absolutely help poor people.
It’s absolutely in my self interest for Bezos and Musk to get taxed more if I don’t.
Again, it’s an issue of information. This is true that a more progressive tax rate on higher income earners will be a net positive for most Illinois residents.
The problem is that for at least 30% of voters if not way higher than that, their consideration for how to vote goes no further than “Will my tax rate go down?”.
Well as far as the example in question is concerned, their tax rates did actually go down. They were voting for a free $20 and some extra benefits. Yeah, it’s basically nothing, but even I’d pick up a $20 if I saw it lying on the sidewalk.
If it was in doubt for so long, I’m not sure whether to be proud or sad.
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lol that is a terrible tax structure. Yes, above $250K is pretty rich, but that’s doctor and successful small to mid sized business owner territory. That’s not who you want to target. It’s the CEOs and hedge fund managers with ridiculous capital gains and stock options and shit. That might be outside what a state can get their hands on, but that’s the type of shit that polls well when we say tax the rich.
Also am I reading it right that it jumps for joint filers totaling $250k also? Or is that still just per person when filing jointly?
Because if it’s the former then a ton of couples are getting hit, not just doctors etc.
Dark blue Maryland has an absolute joke of a tax structure as well. The most significant brackets kick in at $1k, $2k, and $3k. No, that’s not a typo and yes that’s annual income. Above $3k you’re mostly taxed at 4.75%, with the highest brackets only reaching 1% more. Which is not even as significant as it seems at first because there’s also a local tax rate which is legitimately flat, mostly between 3-3.2% depending on your locality. So the effective tax rate is close to 8% for nearly everyone, slightly over 8% for high earners. BUT WAIT, if you itemize deductions on your federal return you can use that same figure (mostly) as your state deduction, if not your standard deduction is $2300. Just straight squeezing middle class renters to cut a discount for the rich.
The only thing Illinois was voting on was a constitutional amendment to allow the legislature to set different rates for different incomes. Our Constitution requires that any income tax charge everyone the same rate. The conservative framing of “giving the politicians more power to raise your taxes” carried the day.
Any numbers that existed in reality, as opposed to campaign rhetoric, were very preliminary and weren’t an issue. It would be fair to say the purpose of the measure was to raise taxes on the wealthy rather than rebalance and cut taxes on lower incomes.
They need a constitutional amendment to overrule the state Supreme Court ruling that pensions get paid ahead of everything else and the legislature can’t in any way alter them no matter how broke the government is or how absurd the pensions.
The financial picture for Illinois, like most of the states, has improved recently. They won’t be taking that step anytime soon.
There are few things I’ve ever been more certain of in my life than that I would be perfect for managing Cawthorn’s future grifts.
Still endorsed by Biden and Pelosi
https://twitter.com/benjaminew/status/1527033584397295616?s=21&t=08oStXfUzwlTkYC3flUqjg
The ole muckraking politics freeroll - tell your operatives to smear them and then come out and say you never endorsed that campaigning presenting yourself as a good guy while low information voters hate on your opponent. Genius!
Smear him back with non-policy personal attacks.
So, Oz is safe, right?
And we’re happy about that?