A subcommittee on the Chicago City Council is thinking of new streams of revenue to fund the city as Chicago grapples with a large debt.
City Alderman William Hall, chairman of the subcommittee, was keen on the idea of implementing a city income tax for salaries over $100,000 earned in Chicago.
“Billionaires and millionaires are not even paying taxes. … It makes no sense that a mother who’s making $45,000 to $50,000 a year working two jobs, robbing Peter to pay Paul, hoping that an iPad would keep her kids occupied, is paying more taxes than, you know, Ken Griffin and company,” Hall said. Ken Griffin was previously Illinois’s richest man before he moved himself and his company, Citadel, to Florida.
Hall did not directly confirm or deny if his tax would include all salaries above $100,000, simply saying
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