Illinois House Democrats Propose Wealth Tax and New Levies
Illinois House Democrats have introduced a $1.5 billion transit funding plan, featuring a first-in-the-world wealth tax on billionaires and new taxes on streaming services like Netflix and Spotify.
- Wealth tax on hypothetical income
- Taxes on streaming services
- Steep surcharges on concerts and ticketed events
However, critics argue that billionaires can easily leave the state, resulting in lost revenue. As the tax base shrinks, less wealthy Illinoisans may be left to bear the tax burden.
What starts with billionaires opens the door to taxing others next.
Notably, Governor Pritzker does not support the proposal.
Author's summary: Illinois Democrats propose a wealth tax and new levies.
More News
- EXCLUSIVE: Diane Keaton’s Heartbreaking Confession About Bulimia Resurfaces After Her Death at 79 – 'I Felt Like an Outsider'
- As pope heads to Turkey, Christian community still battling inequality, exclusion
- Kaouther Ben Hania on filming ‘Mimesis’ amid festival awards
- Where Was ‘Champagne Problems’ Filmed?
- Lash Legend Gears Up for Survivor Series Debut
- Theo Papadoulakis’ Recrucified Filming in Crete
- Sophie Turner Signs Letter Expressing ‘Deep Concern’ About Medical Aid in Dying
- Jack Fincham 'caught kissing MAFS star' after Chloe Brockett split