Year | Actual Tax Rate | % Tax Paid by Black and Hispanic Taxpayers <$250,000 under Flat Tax | % Tax Paid by Black and Hispanic Taxpayers <$250,000 under Fair Tax | Resulting Tax Subsidy to Taxpayers >$250,000 under Flat Tax | Wealth Equivalent of Tax Subsidies for Highest-Income Illinoisans under Fair Tax |
---|---|---|---|---|---|
1999 | 3.00% | 8% | 7% | $127,821,558 | $216,872,714 |
2000 | 3.00% | 8% | 7% | $133,457,575 | $196,162,457 |
2001 | 3.00% | 8% | 7% | $127,502,273 | $217,056,279 |
2002 | 3.00% | 8% | 7% | $121,902,866 | $245,260,791 |
2003 | 3.00% | 9% | 7% | $126,154,470 | $336,816,315 |
2004 | 3.00% | 9% | 7% | $134,165,942 | $292,519,085 |
2005 | 3.00% | 9% | 7% | $142,446,635 | $296,128,073 |
2006 | 3.00% | 9% | 8% | $151,213,579 | $318,480,084 |
2007 | 3.00% | 9% | 8% | $157,900,420 | $304,469,081 |
2008 | 3.00% | 9% | 8% | $153,363,715 | $296,986,928 |
2009 | 3.00% | 9% | 8% | $136,308,046 | $431,615,237 |
2010 | 3.00% | 9% | 8% | $145,198,877 | $370,024,742 |
2011 | 5.00% | 9% | 8% | $242,522,770 | $560,958,641 |
2012 | 5.00% | 10% | 8% | $267,718,427 | $637,599,534 |
2013 | 5.00% | 10% | 8% | $261,409,333 | $555,710,098 |
2014 | 5.00% | 10% | 8% | $276,209,051 | $457,440,968 |
2015 | 3.75% | 10% | 8% | $212,105,674 | $315,105,920 |
2016 | 3.75% | 10% | 8% | $209,297,559 | $310,275,973 |
2017 | 3.75% | 10% | 8% | $258,754,068 | $353,739,036 |
2018 | 4.95% | 10% | 9% | $299,898,797 | $351,652,651 |
2019 | 4.95% | 10% | 9% | $318,523,679 | $405,450,210 |
TOTAL | $4,003,875,313 | $7,470,324,814 |