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| Tax Group Wants Tax Increase |
The Center for Tax and Budget
Accountability says if Illinois hopes to get itself out of the
state budget hole, a responsible, progressive tax increase
must be a part of next year's budget.
Executive
Director Ralph Martire says a flat income tax increase
combined with a broadened sales tax base would be the best and
fairest way to increase revenues without big cuts in spending.
Martire proposes giving lower- and middle-class families tax
credits, so even though they?ll pay more taxes initially,
they'll get most of that money back. He says this will
stimulate the economy by putting extra money into the hands of
people who will likely spend it in their local
economies.
Martire says the current sales tax covers
only goods, such as dishwashers and cars, which accounts for
about 12 percent of all economic activity in Illinois. He says
the state might not have to raise the sales tax rate if it
simply taxes more things. He says the sales tax could cover
roughly 60 percent of Illinois' economic activity if it begins
taxing the service sector. He means services such as health
club memberships, dry cleaning, and haircuts. He says this
way, even if the state lowered the overall sales tax rate, it
would still bring in more money.
(Illinois Radio
Network) | |
| 03 12 09 by Newsroom |
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