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May 19, 2005
The Great Illinoisian Tax Swap
Cal Skinner sent me a link to this calculator that will show you based on where you live how much the average tax payer with an average home will pay in taxes compared to the old system. Here's the catch... don't own a home? You will pay 60-67% MORE in Illinois income tax. You do own a home? The offset in property tax relief will be less than the income tax relief except in very specific circumstances.
So here you have doublespeak at its finest where there is a 60-67% income tax hike, a 30% rate cut for ONE PART of property taxes, almost everyone pays more, and our Illinois politicians call it a TAX CUT. Hint... when you pay more, it's not a tax cut.
Posted by John Bambenek at May 19, 2005 5:23 PM
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