The Last Outpost of Common Sense

Illinois Democrats are advancing a proposal that could add a new 25% tax affecting existing property and assets.

Illinois Democrats are proposing something that’s getting a LOT of attention online:

A new tax based on assets people already own.

Not income.

Not sales.

Not property tax.

A tax tied to wealth, investments, assets, and account values.

Supporters say it would target billionaires and generate nearly $1 billion in new state revenue.

Critics say it opens the door to something much bigger later on.

Because once government creates a brand-new category of taxation… people naturally start asking:

Where does it stop?

Today they say billionaires.

Tomorrow?

People worry the threshold could eventually move lower over time. Our history says it will.

And that’s why this debate is exploding politically right now.

One thing is clear:

Illinois residents are already heavily taxed, and proposals like this are only fueling more frustration about affordability in the state.