To the Editor:
So House Speaker Michael Madigan is proposing a “millionaire tax” that would impose a 3 percent income tax surcharge on all incomes greater than $1 million to help fund public education.
The last time that the Democrats raised taxes, every Illinoisan got a 67 percent increase,and they still cut funding for education.
An increasing deficit and a growing unfunded pension liability have diverted money from schools and social services to further exacerbate problems.
The Illinois Lottery funds were supposed to go toward education. Have they?
“Tax and spend, tax and spend” appears to be the Democrats’ mantra.
Money from the pension and education funds were “borrowed” by the state for other purposes. Where’s the accountability and where does it end?
And in the meantime, the good citizens of Illinois who are honest, industrious, ingenious, entrepreneurial, financially wise and hard-working are to be penalized for reaping the fruits of their labor. No man should be – at whatever level they achieve.
Many millionaires are exceedingly generous and contribute without publicity. They are to be admired for their accomplishments and congratulated, not criticized.
Some Democrats prefer to make the Romneys and Rauners of the world look bad for succeeding. Ergo, according to President Barack Obama, there needs to be a redistribution of the wealth and, per Madigan, millionaires need to be taxed more to fund education.
Balderdash! That’s convoluted thinking.