About that "50% Increase"
As the graph below will show you, the much-balleyhooed "50%" tax increase fails to ring true. We found this out when looking at what the Effective tax rate is currently, versus what it would be under Gov. Quinn's plan. As you see, the tax increase tops out at about 20% for any family of 4 that could consider themselves middle class.
2 comments:
Got a chart for business?
Of course it's not a 50% increase in the EFFECTIVE rate for a family of 4 under 125k. But it is a 50% increase in the marginal rate, which is what will drive production decisions.
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