© Patrick Gorski-USA TODAY Sports

Pritzker’s latest push for his “fair tax” calculator isn’t really fair

Bryce Hill: Illinois Policy Institute

The Annie Frey Show
March 13, 2019 - 2:37 pm
Categories: 

Research Analyst at Illinois Policy Bryce Hill says the math doesn’t add up when it comes to the fair tax.

Will this actually lead to a hike in taxes for the middle class?

The true problem that needs correcting is SPENDING. Getting spending under control will be the biggest task, but the most important one.

From Illinois Policy:
• According to Illinois Policy Institute’s static estimates, revenue from Pritzker’s proposed income tax rates would bring in only $2.4 billion.
• Dynamic estimates, which consider how businesses and individuals react to tax increases, reveal the revenue adds up to only $1.4 billion, falling significantly short.
• The Pritzker administration has so far refused to release its methodology and assumptions for the $3.4 billion revenue estimate.
• In order to fully implement Pritzker’s promised spending, the typical Illinois family would see an income tax hike between $2,425 and $3,508

Listen to the discussion below: