ALTON - YWCA of Alton and the Illinois Alliance for Retired Americans recognizes the Fair Tax initiative on the November ballot is an important one. All voters can obtain a greater understanding of the proposed changes in state tax structure by participating in an informative virtual event September 26, 2020 at 2 pm.
The event will be broadcast on ZOOM. To participate register at https://forms.gle/HBCNgrYruJNJ1D7h6. Details of how to connect will be e-mailed to you. Be sure to register early for this event.
Under the current Illinois tax structure, the rate of income taxed for the lowest 20% of income earners is double what the top 1% of income earners pay. This is unfair for all of us, but impacts low income communities and people of color the worst. Dorothy Hummel, YWCA of Alton Executive Director, states that “by calling on the top 3% of income earners to pay a higher rate, the Fair Tax will raise an additional $3.4 billion each year, while reducing or having no effect on the amount that 97% of Illinoisans pay in taxes. The Fair Tax means more money for programs our communities need and a tax cut for working people. The YWCA of Alton is committed to supporting measures to improve social justice. In this spirit, the YWCA of Alton endorses the ballot change to a graduated tax.”
The Illinois Constitution currently requires all taxes to be assessed at a flat tax rate. To put the numbers in perspective, people earning $24,000 per year pay the same tax rate (currently 4.95%) as people who make $240,000. This means that taxes take a larger percentage of income from people that make less. For example, people making $2,000/month have $1,900 left to live on, while people making $20,000 month will have $19,000 left to live on.
The Fair Tax item on the ballot calls for a change to a graduated income tax. The ballot issue is whether to change the Illinois constitution so to allow a graduated income tax, rather than a flat tax. Please join this opportunity to become more informed on this important issue.
For more information, please contact YWCA of Alton at 618.465.7774.
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