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[The following is a paid advertisement.]
North Carolina ditched its progressive income tax in 2013 and replaced it with a flat income tax. Since then, the state’s economic growth has zoomed past the national average.
All that growth means more money in the pockets of working families. After switching to a flat income tax, average annual wage growth in North Carolina accelerated more than 30 percent faster than the national average.
North Carolina’s rebound is no surprise. States without a progressive income tax see faster jobs growth, wage growth and GDP growth than states with a progressive income tax. At the same time, progressive income tax states see higher inequality that’s rising faster than states without a progressive income tax.
With Illinois already close to the back of the pack nationally for jobs growth and income growth, Illinois families seeking opportunity can’t afford a progressive income tax hike.
posted by Advertising Department
Wednesday, Feb 13, 19 @ 8:40 am
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Previous Post: Daley called “Bruce Rauner’s mayor” for taking $1 million from Ken Griffin
Next Post: Pritzker transition report: Restorative Justice
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