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Mayor Wed Jan 19 2011
Emanuel on Regressive Local Taxes
Rahm Emanuel's campaign released a plan today to soften regressive taxes--particularly the sales tax--and compensate for the lost revenue by closing loopholes on "luxury" taxes paid primarily by people in upper-income tax brackets:
In comments he made before meeting with Crain's editorial board, Mr. Emanuel said his intention is to make the tax system simpler and less onerous, while also pulling in a bit more cash for the city.
"I believe if you close loopholes and simplify things, you can be more progressive and pull in more revenue," he said. "That's good for everybody."
Under one part of Mr. Emanuel's plan, he would ask the Legislature to extend the current sales tax that applies only to goods to cover services mostly used by upper-income groups -- items like private club memberships, pet grooming, limo rentals, tanning parlors and interior design.
