For grins I was wondering - what State Income Tax level would be required in order to equal the current amount of public school funding.

I poked around the internet and found the following:

Total spent on public ed in Illinois (06-07) was $22.6B

Amount of income from the lottery was $0.6B

Amount from federal sources was 9.1%.

So the amount from state and local was $20.0B
(90.9% of $22.0B)

Those numbers came from the ISBE website

I found a reference for total Illinois Personal Income as $490B

So, $20B / $490B = 4.08%

Thus the poll question below. Keep in mind this assumes everyone (poor folks too) pay the same rate.

Should also state that, for the purposes of the poll, assume our District doesn't get screwed by Springfield when the cash is re-distributed. I.e., we spend the same on our students as we do now.

Question:
Would you be in favor of a 4.1% flat income tax increase if it meant you paid no property taxes to D41, D89, or D87?

Choices:
Yes
No

 

This is what makes Meeks such an idiot! CPS gets WAY more money from Springfield than New Trier or any of our other suburban school districts....we just pay a lot more in property taxes to support our schools. Income tax would be far more fair way to fund schools. Then perhaps lifelong residents of a given town wouldn't be forced out upon retirement because of property taxes.