Illinois House Democrats Propose Wealth Tax and New Levies
Illinois House Democrats are pushing for a first-in-the-world wealth tax on billionaires, as well as taxes on streaming services like Netflix and Spotify, and surcharges on concerts and ticketed events.
The proposed $1.5 billion transit funding plan includes a wealth tax on hypothetical income, a concept that does not exist anywhere else in the world.
- Taxes on streaming services
- Steep surcharges on concerts and ticketed events
The plan has raised concerns that billionaires can easily leave the state, resulting in lost income, property, and sales tax dollars, which would then need to be made up for by less wealthy Illinoisans.
What starts with billionaires opens the door to taxing others next.
Notably, Governor Pritzker does not support the proposal.
Author's summary: Illinois Democrats propose a wealth tax and new levies.
More News
- A Powerclown Halloween: on singing the Village People in Japanese, Scum Element, and Shakes the Clown
- Illinois House Democrats push first-in-the-world wealth tax, streaming, concert taxes
- Landry's Explosive Quote That Signals Major Changes at LSU
- Live Nation Venue The Truth Slated for Fall 2026 Opening
- Spain’s purchase of the Turkish TAI Hürjet fighter jet and its inexplicable unit cost