Saturday, Oct 25, 2014
Quincy, IL News - QuincyJournal.com
Trending on the Journal

Recent Comments

pjohnf - Local unemployment rates drop - Quincy, IL News - QuincyJournal.com
This means nothing unless it's the E6 number. If it's the E3 number it's a lie. The real unemployment number , E 6, nation wide is close to 12%.
Stupid_Dems - GREDF supports Quincy School Building Referendum - Quincy, IL News - QuincyJournal.com
Hey simpleton! I got one thing to say to you: Audie Murphy. I'd rather be short physically than short mentally like you cry baby!
UrKidsWillPay - GREDF supports Quincy School Building Referendum - Quincy, IL News - QuincyJournal.com
Short People got no reason Short People got no reason Short People got no reason To live They got little hands Little eyes They walk around Tellin' great big lies They got little noses And tiny little teeth They wear platform shoes On their nasty little feet Well, I don't want no Short People Don't want no Short People Don't want no Short People `Round here Short People got nobody…
1950Brutus - GREDF supports Quincy School Building Referendum - Quincy, IL News - QuincyJournal.com
I'm not sure that is a suit - the thing on the shoulder doesn't look like anything I've seen on a suit. But I am OLD - I don't see well, I don't hear well and I go the bathroom every 10 minutes
pimpdaddystyle - Man arrested for performing lewd acts - Quincy, IL News - QuincyJournal.com
OK, anybody can work for library, but NOT HIM!! lol

Most Popular

School Board to outline plans for savings, old buildings if referendum passes

Adams Co. Divorces for 10/24

Illinois Early Voting starts: Cook County ballot box tries to cast GOP votes for Democrats

Bill Clinton to address workers at pro-Quinn rally

Quincy School Board pledges to reinvest savings from new buildings

Several honored during C-SC Homecoming

Quincy man accused of theft from elderly woman

Avenue of Lights annouces Advantage Program

Rate structure proposed for progressive income tax

7 months ago thesouthern.com

Income over $12,500 would see a tax increase based on current tax rates

From thesouthern.com:

A top Democrat in the Illinois Senate who supports a proposed graduated income tax said his plans for a rate structure would lower taxes for most Illinois residents.

While the vote is pending on a constitutional amendment that would allow the state to enact a graduated income tax, state Sen. Don Harmon, D-Oak Park, said at a press conference that his proposal would save money for 94 percent of Illinois families.

"This is tax relief to every family in Illinois earning less than $200,000," Harmon said. "This is major tax relief across the board, and one that we can certainly afford."

Under Harmon'€™s plan, the state would impose a 2.9 percent tax on income of up to $12,500 and 4.9 percent on income between $12,500 and $180,000. Anything over $180,000 would be taxed at 6.9 percent.

Under the state'€™s temporary increase, income is currently taxed at a flat rate of 5 percent. That rate is scheduled to drop to 3.75 percent next year.

Harmon said families making the state's median income of $55,317 would see a savings of $303 on their income taxes under his plan, compared to the current 5 percent rate.

A minimum-wage worker making $23,839 annually would see a savings of $272.

That's not as much savings as Illinoisans would see if lawmakers and Gov. Pat Quinn allow the temporary income tax to roll back to 3.75 percent on Jan. 1.

Under that scenario, the median income family would see a savings of about $689, while a minimum-wage earner would save about $298.

Compared to the current 5 percent rate, Harmon said his plan would generate $23 million less in revenue.

He added that taking any other path would hurt Illinoisans much worse.

"€œWe have two choices other than this,"€ he said. "We can continue an unfair, regressive flat tax at 5 percent or we can cut government services, the services upon which folks rely --€“ education, health care, human services --€“ by 20 percent across the board.

"This is a third way. This is a way we can generate the revenue we need to provide the core services upon which people depend, and do so in a way that provides tax relief for 94 percent of Illinois families."

Click Here to Read Full Article


From the Newsroom

Bob Gough on Twitter

Bob Gough 7 hours, 51 minutes ago

RT @williamfleitch: You know, for living in such a cool, diverse city, San Franciscans sure do lose their sh-t when they see Steve Perry or…
Bob Gough on Twitter

Bob Gough 7 hours, 51 minutes ago

RT @SharylAttkisson: wonder why pres. obama would exert exec. privilege to keep secret their emails about my news reports and FOI requests?
Bob Gough on Twitter

Bob Gough 8 hours, 14 minutes ago

RT @mellinger: Playoff Ned gives no f’s, is what I’ve learned.
Bob Gough on Twitter

Bob Gough 8 hours, 53 minutes ago