Illinois Has Finally Reached Tax Freedom Day
Illinois’ Tax Freedom Day, the day workers have earned enough to cover their federal, state and local tax bills, is today. Illinois workers have to get to the end of the day today before they can start working for themselves.
Travis Akin, Executive Director of Illinois Lawsuit Abuse Watch, says part of the blame is the state’s judicial financial mess. “The hidden lawsuit tax,” Akin explained, is an estimate of the cost of what it costs taxpayers to litigate the thousands of cases that go through Illinois’ courts each year. According to Akin, the latest figure is $857 per person, per year. But taxpayers don’t see the true cost of the courts because these costs are built into the price of goods and services.
According to www.watchdog.org, Illinois taxpayers are the seventh to the last in the nation to reach Tax Freedom Day. New Jersey has the latest Tax Freedom Day which is May 9.