© Press Association

The progressive income tax is a Trojan Horse

Bryce Hill: Illinois Policy Institute

The Annie Frey Show
March 20, 2019 - 2:34 pm

Research Analyst at Illinois Policy Bryce Hill says the numbers do not work when it comes to what has been presented in the progressive income tax.

We have been sold a bill of goods that will only cause higher taxes to the middle-class worker.

J.B. Pritzker said this income tax will have some ‘wiggle room’ which is a scary proposition for the folks who are already giving an arm and leg.

From Illinois Policy:
What's "political" about it?
• Pritzker's plan does not accurately account for past income growth rates.
• Pritzker's estimates don't account for an economic slowdown or a recession, which the majority of business economists in the U.S. believe will happen before 2021.
• Pritzker's projections overestimated the state's total 2021 income growth by up to $32 billion.
• Pritzker's baseline tax projections are up to $2.5 billion higher than the state estimated only four months ago.
• Pritzker's projected 2021 budget deficit is underestimated by $1 billion, meaning Illinoisans would face a $1 billion tax hike to fill the gap.

Listen to the discussion below: