CHICAGO (WBBM NEWSRADIO) - Democrats in the Illinois legislature are joining colleagues in seven other blue states proposing new taxes on billionaires to fund education, childcare and programs to address homelessness.
Activists rallied outside a former public school on the 1400 block of West Augusta in Noble Square that’s been converted into high-end apartments.
The building was a prop, as they joined State Representative Will Guzzardi and State Senator Robert Peters to talk about the tax.
“We’re going to say that for all the stocks and financial instruments that you all own, we’re going to value your assets, and when they go up in worth, we’re going to tax them, just like it’s income,” Guzaardi said. Because these billionaires, they don’t make income by working, like the rest of us. They make income by manipulating the stock market and having their financial instruments grow in value.”
Guzzardi sees this as the start of a nationwide movement.
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