Counterpoint: Graduated income tax wrong for job creation and taxpayers
The Illinois Chamber of Commerce finds it ironic that a liberal think tank picked National Small Business Week to roll out a one-sided fairy tale report about the “benefits” of a graduated income tax for Illinois. Small businesses employ more than one half of Illinoisans and Americans. Yet, those who want to spend other peoples’ money are frustratingly ignorant of the fact that higher taxes on small businesses will create fewer jobs, and minimize economic opportunity and revenue for the state.
Illinois cannot fix its fiscal problems by simply pointing at small business owners and saying, “You pay the tab!” This mindset is two things: Worn out and disproven. Proponents of a graduated income tax ignore the warnings of even liberal Democrats on the folly of soaking the “rich.”
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