Tag Archives: tax

Is an Illinois Flat Tax a Fast Track out of Debt?

It’s no secret Illinois is in a financial bind: A stack of unpaid bills totaling more than $8 billion is proof. Some people say the state would dig itself out quickly if it switched from a flat, 5-percent income tax for everyone to a progressive tax in which the wealthiest Illinoisans pay a higher percentage. But opponents say this is just a ruse for a huge tax increase that will only feed lawmakers’ desire to spend beyond the state’s means. We’ve got both sides at rebootillinois.com today. What do you think?

 

 

Does Toni Feel Lucky? Well Does She, Punk?

In Scott Stantis’ editorial, Cook County President Toni Preckwinkle has backed off her plan for an ammo tax.
http://trib.in/T6WPFb

 

Illinois drops to No. 29 in U.S. Business Tax Ranking

Illinois dropped 13 places, to No. 29, in business tax climate among the 50 states, says the non-profit Tax Foundation in its 2013 State Business Tax Climate Index. Despite rating 13th best for personal income tax, Illinois’ overall ranking sank because of an increase in the corporate income tax from 4.8 percent to 7 percent.

January’s Critical Reforms Reliant on Lame Duck Lawmakers

Reforming public pensions will be the most important vote any legislator will cast this legislative session – if there is a vote. But just as when lawmakers raised state income taxes in January 2011, if this critical reform is to happen, it may come down to a votes from a handful of lame duck lawmakers. In 2011, some pro-tax voters were rewarded with state jobs. http://bit.ly/Tvd8N8

Taxes & CPS

Jim Tobin, President of Chicago-based Taxpayers United of America, an organization that advocates for tax relief and responsible use of tax payer dollars, said the average teacher pay in CPS is $76,000, not including employee benefits or pensions.

“That’s $76,000 for nine months’ employment in a system that isn’t even mediocre. This is one of the lowest-performing school districts in the country,” Tobin said. “And they want a 29-percent pay raise. It just boggles the mind. These salaries are out of the world.”

Rebooting Government

Reboot Our Government – A lot of people in Springfield turn their noses up and make fun of Chicago, its government and the politicians who are from there.

Look at the corruption, they say. Chicago is rife with nepotism and favoritism. Congressmen, state legislators and local officials, such as Bill Lipinski, Emil Jones Jr. and John Stroger, are succeeded by their sons. Michael Madigan, the speaker of the state House, sees to it that his daughter becomes attorney general. Rep. Jesse Jackson Jr. helps his wife become an alderman.

Every so often, we’re reminded that Springfield and Sangamon County government are much closer to Chicago than the 205 miles separating downtown Springfield from the Loop, according to the State Journal-Register. And while their nepotism and cronyism don’t make national news, as it does in Chicago, it’s still embarrassing and a disservice to taxpayers.

 

Reboot our Pensions

The longer this state’s leaders skirt pension reform, the likelier the rest of us are to be stuck forever with the allegedly temporary income tax hike that’s scheduled to expire after 2014. This linkage — their pension fiasco, your income tax — is of grave import in this election season. As you make your choices in legislative races, we urge you to press every candidate on whether he or she will, or won’t, vote to extend the increases enacted last year: 67% on individuals, 46% on employers.

Take as a “yes” any vague answer like: We’ll have to see where we are two years from now. So many candidates this year are hiding behind that evasive line, speaking nearly identical phrases that sound like predigested talking points from their campaign advisers. Remind the candidates that a tax hike sold to Illinoisans as temporary needs to be…temporary.

 

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