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Our central Iowa politicians were crushed at the polls when they attampted a 17% boost in the local sales tax rate: from 6% to 7%.
Chicago's politicians are even more brazen. Taxable Talk reports:
But Chicago may become a much more taxing place to visit or shop. Currently, the sales tax in Cook County (Chicago and nearby suburbs) is 9.00%. That doesn't appear to be large enough to Cook County Commissioners.Cook County Commissioner Joan Murphy told Leah Hope of WLS-TV, "We just need to do something other than cut jobs if we want to maintain services to our residents." What's the something she proposes? A sales tax increase from 9% to between 11% and 11.75%. That's somewhere between a 22.2% increase and a 30.6% increase.
Of course they need the money. There are a lot of worthy politicians who still need something to plead guilty to, and there are a number of airports in Chicagoland that haven't been destroyed in the dead of night.
The Tax Policy Blog has more.
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The items included in the Tax Update Blog are informational only and are not meant as tax advice. Consult with your tax advisor to determine how any item applies to your situation.
Joe Kristan writes the Tax Update items, and any opinions expressed or implied are not necessarily shared by anyone else at Roth & Company, P.C. Address questions or comments on Tax Updates to