Illinois House Democrats Propose Wealth Tax and Streaming Services Tax
Illinois House Democrats are pushing a first-in-the-world wealth tax on billionaires, as well as taxes on streaming services like Netflix and Spotify, and surcharges on concerts and ticketed events.
The proposed $1.5 billion transit funding plan includes a wealth tax based on hypothetical income from unrealized capital gains, which does not exist anywhere else in the world.
- Taxes on streaming services
- Steep surcharges on concerts and ticketed events
- Wealth tax on billionaires based on unrealized capital gains
Illinois would be the first in the world to tax wealth based on unrealized capital gains.
If billionaires leave the state, Illinois will lose income, property, and sales tax dollars, resulting in a shrinking tax base and potentially shifting the tax burden to less wealthy residents.
Author's summary: Illinois Democrats propose a unique wealth tax and streaming services tax.
More News
- Regeneron receives another CRL for its Eyelea 8 mg | Ophthalmology Times - Clinical Insights for Eye Specialists
- Stevie Nicks and Lindsey Buckingham Call Truce, Appear Together on Song Exploder Podcast
- Illinois House Democrats push first-in-the-world wealth tax, streaming, concert taxes
- This New Spy Thriller Series Took Over Netflix and Hit #3 Overnight
- Lacoste Debuts Rolex Paris Masters 2025 Collection - V Magazine
- Selling Sunset's Mary Bonnet Thinks Producers Set Up Chelsea Conflict
- Apple stock gets $320 target from BofA ahead of Q4 earnings - 9to5Mac
- Windows 11 KB5067036 issue: Task Manager won’t close and duplicates, may hurt performance
- American Red Cross Steps Up As Government Shutdown Impacts Military Pay, SNAP
- 'Down Cemetery Road' Release Schedule: When Are New Episodes Out?