I really had a hard time believing this comment from former Carpentersville School District 300 Board President Mary Fioretti, which I found posted under a letter to the editor from the Huntley teachers union president in the Northwest Herald:
mary fioretti wrote on May 25, 2007 6:35 AM:
” The legislature, as it always does, tears apart a bill to “fit” their desires. So it’s a big guess on what they would glean out of HB750. If it’s a 2% increase in income tax multiply that by what you make each year. An income tax credit is available in the legislation for certain income levels.”
We have a three percent income tax on individuals right now.
A 2% increase would make the rate 3.06%.
Think that’s what Fioretti really means?
Or might she mean a two-percentage point income tax increase, which would, of course, be almost a 67% increase in income tax.
The comment above was right below this one:
mary fioretti wrote on May 25, 2007 6:33 AM:
“Dave, to your statements. This is not at all difficult to understand. Just like in any profession or owning a home, you have to acquire basic understanding. Don’t let people make you crazy it’s about the forumula. Look at the dollar portion of your school tax bill. Multiply that by 20% then do another calculation of 25%. That will be your potential abatement. Remember, not everyone owns a home.”
Too bad that Fioretti and her allies at Advance 300 don’t understand how to do a cost-benefit study. If the state income tax is increased, this area will not be among the “winners.”