At the candidate forum for the District 1 Cook County commissioner, Oak Park Public Library on Feb. 25, concern was expressed for the needs of the mentally ill and for the incarcerated. The pension issue was also discussed. I only heard two solutions offered about where the revenue might come from.

One was to close loopholes in corporate taxes. No specifics were mentioned and this is a common suggestion that doesn’t seem to go anywhere in Springfield.

The other was to institute a “fair” income tax. This is also known as a “graduated” income tax and a “progressive” income tax. In essence, those who earn more would pay more in taxes. This is probably easier to achieve since it wouldn’t target businesses with lobbyists and lawyers who could cause grief for the elected officials.

At the forum, I submitted a question that wasn’t asked. What about a tax on the high rollers trading on the financial exchanges? A small fee on the buyers and sellers could raise large amounts of money. Go to www.robinhoodtax.org for specifics. This is where the money should come from. We the people can decide where to use it.

I would appreciate hearing from the candidates who were at the forum about whether a financial transaction tax is something would push for if elected to the Cook County Board of Commissioners. They could post comments — using their real names of course — responding to this letter.

Tom Broderick

Oak Park

Join the discussion on social media!

12 replies on “Here’s an idea for raising revenue”