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Illinois treasurer says 'fair tax' makes retirement tax more likely

from Illinois Policy

Illinois state Treasurer Michael Frerichs confirmed what many believe would be a new possibility in Illinois if voters pass the progressive income tax amendment: taxing retirees. “One thing a progressive tax would do is make clear you can have graduated rates when you are taxing retirement income,” he said while speaking at an event hosted by the Des Plaines Chamber of Commerce. “And, I think that’s something that’s worth discussion.” more

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