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October is here, which means Americans are gearing up for two hallowed traditions: postseason baseball and political primaries.
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When Rep. Alexandria Ocasio-Cortez, D-N.Y., proposed a 70% rate on personal income of more than $10 million, one could easily anticipate this was just the beginning of the calls to soak the rich.
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Coming thirteen days after state and federal income tax returns were initially due, Tax Freedom Day, according to the Illinois Policy Institute’s Senior Budget and Tax Policy Analyst Benjamin VanMetre, marks the point in the year when Illinoisans have worked long and hard enough in the aggregate to cover their share of state, federal and local taxes “and can start keeping their hard-earned money.” About a third of Illinois residents’ efforts this year – 118 days’ worth out of the calendar year’s 365, in other words – went just to paying taxes.
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