Millionaire's tax could be on ballot

Millionaire's tax could be on ballot

ILLINOIS -- Come November, voters could get a chance to weigh in on the idea of an extra tax on millionaires.
ILLINOIS -- Come November, voters could get a chance to weigh in on the idea of an extra tax on millionaires. WCIA-3's Alex Davis keeps us Connected to the Capitol.

The plan comes from Democratic lawmakers. It would tax high-income earners in order to increase revenue for the state. The idea is to put an added three percent surcharge on anyone earning more than $1 million per year.

It's something state worker, Pat Curtis, says could be good for Illinois.

"I do think that people with ample means, and certainly I would consider a millionaire as someone with ample means, should morally, ethically and legally be responsible for contributing a greater portion of their wealth toward the rest of the citizens."

This tax question will be on the November ballot as a non-binding referendum.

"We need to help everybody. And, let's face it, a percentage of their paychecks is going to help a lot more people than a percentage of mine."

Supporters say this tax could mean an extra billion dollars a year for the state.

"I certainly know that the state of Illinois could use it. I think there'd be no problem with finding places to put it."

They say the money could go toward education.

"Well, this is Illinois, so, will the state legislature be responsible with it?"

Kevin Mulligan lives in Texas where workers don't pay an income tax.

"Well, if you want to drive all the millionaires out of the state, I guess that's a good way to do it."

He says the added tax on millionaires isn't fair.

"The other thing, it just seems like the democratic philosophy in this country is to punish success and, if that's their philosophy, why would you want to achieve anything?"

Illinois already has a flat tax. If voters say "yes" in November to the millionaire's tax, it would still need to go before lawmakers.
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