Watch tonight's City of Chicago edition of Public Affairs, featuring a discussion of (1) the so-called IL Fair Tax, Progressive Income tax or Pritzker's big tax increase (2) a capital budget and (3) the Fiscal 2020 budget.
Also discussed is- Will the Middle class & working class ultimately pay higher income taxes, too, if Pritzker's tax is passed?
Role reversal tonight, with usual show host Jeff Berkowitz being interviewed (on May 2, 2019) by Illinois Channel’s Terry Martin.
The show airs tonight at 8:30 pm and midnight on Cable Ch. 21 [CAN TV]
State Rep. Will Guzzardi (D-Chicago), House Republican Leader Jim Durkin (R-Western Springs), Senator Chuck Weaver (R- Peoria) and Senator Manar (D-Bunker Hill) each have cameos.
The focus of tonight's discussion, broadly put, is on key IL fiscal issues likely to be dealt with (or not) by May 31, 2019- the likely last legislative session day until November, 2019.
Last week, the IL state senate passed the law putting the IL Progressive tax on the November, 2020, ballot, with the Ds hoping it is made constitutional by a 60% YES vote of those voting on that issue.
It looks like the 44 R State House members will remain a party line NO vote against putting the Pritzker Progressive tax on the ballot. The Republicans don't like the idea of a boost in any taxes.
So, the question of the day is: Can Speaker Madigan find 71 of his 74 Dems to support Gov. Pritzker's tax increase.
State Rep. Will Guzzardi (D-Chicago) has a cameo arguing from the City Club of Chicago that Pritzker's fair tax is a great opportunity for IL to capture that pot of gold from the FAT CATS earning more than 250K.
But, Berkowitz says that would amount to a more than a $22,000 additional tax on those making more than $750,000 a year, bringing their total state income taxes to $60,000 per year. That’s more than a 35% boost in taxes, if you happen to be among those disfavored by Speaker Madigan, Senate President Cullerton and Gov. Pritzker-- the current Dem Leadership calling the shots.
Is that a “Fair Tax?” Berkowitz argues it would be better to “Create wealth,” as opposed to capture it from the wealthy-- which might chase them, with their jobs, out of state.
Jim Durkin, R State House minority leader, has a cameo from the City Club of Chicago where he argues the flat tax is a protection for all income levels against tax increases.
Sen. Chuck Weaver (R- Peoria) argues that the progressive income tax may not “Play too well in Peoria.”
Weaver argues the Dems’ proposal is like a Cable company's “Introductory offer,” that will soon be replaced by a higher tax rate on all income groups.
Berkowitz suggests you could see a significant exodus from IL of wealthy people, and they may be the high income entrepreneurs who take their jobs with them.
Berkowitz also notes that the new Pritzker tax is estimated by the Gov to yield 3.4 billion dollars. But, if the wealthy flee IL, will JB get much less than 3.4 billion dollars?
And, if so, where will JB get his additional revenue to support his bloated spending? From the middle class?
Moreover, with no reforms from the Pritzker Dems, won’t spending from the drivers of IL State Spending- Pensions, education and Medicaid- continue to balloon?
We hear from IL State Senator Manar (D- Bunker Hill), who last year brought us ballooning state spending for education to $350 million more per year- for as far as the eyes can see. Now, Sen. Manar touts a $35 billion state bond issue for capital projects, tacked on to the State’s $200 billion unfunded pension liabilities & other debt. The Dems philosophy: "Borrow today and worry about the debt after we leave."
And, there is the 2019-20 fiscal year budget, which will probably clock in at about $39 billion, up $4 billion dollars in just the past 4 years.
Is this any way to run a railroad?
Further, Wirepoints.com estimates that Gov. Pritzer promised spending during his 2018 campaign of about $10 billion more.
So, will Gov. Pritzker break his promise:
- To provide promised services (costing $10 billion more) or
- Not to ask for more than 3.4 billion dollars in new revenue in 2021 or
- Not to cut pension, Medicaid or education spending or benefits EVER or
- Not to raise taxes on the middle class?
Or, will Gov. Pritzker not break any promises? If the Governor believes that, perhaps he should appear on Public Affairs and explain how he plans to do that.
Or at least JB should not have his press secretary bar Berkowitz from attending JB's press conferences. I mean, fair is fair and that bit discrimination is probably illegal.
We discuss, you decide.
Tomorrow night's Chicago Metro North & Northwest suburban edition of Public Affairs features Terry Martin, who runs the Illinois Channel, interviewing Jeff Berkowitz on a new episode of Public Affairs.
State Rep. Deanne Mazzochi (R-Westmont), Senators Don Harmon (D-Oak Park) & Toi Hutchinson (D-Chicago Heights) & Lt. Gov. Juliana Stratton (D-Chicago) each have cameos on tomorrow night's show.
This episode was taped on May 11, 2019.
This program airs tomorrow night at 8:30 pm in 24 Chicago Metro North and Northwest suburbs:
--on Comcast Cable Ch. 19 in Buffalo Grove, Elk Grove Village, Hoffman Estates, parts of Inverness, Lincolnwood, Morton Grove, Niles, Northfield, Palatine, Rolling Meadows and Wilmette and
--on Comcast Cable Ch. 35 in Arlington Heights, Bartlett, Glenview, Golf, Des Plaines, Hanover Park, Mt. Prospect, Northbrook, Park Ridge, Prospect Heights, Schaumburg, Skokie, Streamwood and Wheeling.
You can also watch this program in Chicago next Monday night at 8:30 pm and Midnight on Cable Ch. 21 [CAN TV].
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