Voters To Be Asked About Millionaires Tax

By WTVO WQRF Newsroom

Published 07/31 2014 11:44AM

Updated 07/31 2014 11:58AM

WTVO/WQRF - Come November, voters could get a chance to weigh in on the idea of an extra tax on millionaires.

It's appropriately called the Millionaires Tax.  The plan comes from democratic lawmakers.  It would tax high-income earners in order to increase revenue for the state.  It's a 3-percent surcharge for anyone who earns more than a million dollars a 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, and ethically and legally be responsible for contributing a greater portion of their wealth toward the rest of the citizens" says Curtis.

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

"We need to help everybody" says voter Renee Mays.  "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" says Curtis.  "I think there'd be no problem with finding places to put it."

They say the money could go towards education at a rate of $550 per student.  But, not everyone thinks it's a good idea.

"Well, if you want to drive all the millionaires out of state, I guess that's what a good way to do it" says Kevin Mulligan, a former resident of Texas who now lives in Illinois.

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 work to achieve anything?"

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

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