Dems Have Answer for Illinois Fiscal Crisis: Tax Cut for 99%, Soak the 1%! – WP Original

  “When the people find that they can vote themselves money that will herald the end of the republic.” – Ben Franklin   By Mark Glennon*   Unbelieveable. State Rep. Lou Lang (D-Skokie), a major lietenant of House Speaker Michael Madigan, today proposed a graduated income tax under which 99% of Illinois taxpayers would get a cut. One-percenters would see rates increase gradually up to 9.75%. More specifically, according to the Chicago Tribune:   Under Lang’s proposal, taxpayers who are married and filing a joint return or a head of a household would pay 3.5 percent for income of $200,000

Read More »

Unemployment 101: How to understand an Illinois jobs report – Illinois Policy

Monthly reports from the Bureau of Labor Statistics and the Illinois Department of Employment Security allow the public to see Illinois’ record for job creation and unemployment. Understanding the components of the reports, what they measure, and the significance of the data are key to assessing the state’s economic health.Comment: Author Mike Lucci is the best numbers guy around on this topic.

Read More »

Illinois Risks Brain Drain as University Students Look Elsewhere – Bloomberg

Pensions, bonds and state employees are getting paid during the impasse, but higher education funds are stuck at zero, leaving public universities and poor students who rely on state aid among the hardest hit by the budget standoff. As more students look elsewhere, Illinois risks a long-term loss of residents, further pressuring the economy of the state that ranked 49 out of 50 in terms of population gains in the last three years.

Read More »

Will Lisa Madigan shut down Illinois state government? – Illinois Policy

The Illinois attorney general – House Speaker Mike Madigan’s daughter – could play a major role in whether state lawmakers will pass a budget Illinoisans can afford. Comment: Unquestionably, she tried earlier to get courts to cut off paychecks, which would have shut down the state. She made those arguments personally, in court.

Read More »

Peabody Energy files for Chapter 11 bankruptcy – Illinois Review

The company operates multiple underground and surface mines throughout the Illinois Basin, the fastest-growing coal-producing region in the United States. It cited “unprecedented” industry pressures and a sharp decline in the price of coal. Comment: “Mission Accomplished” for the Obama Administration and warmists.

Read More »

No exit strategy from Illinois budget standoff – Jared Labell – Taxpayer Education Foundation

Madigan is protective of the political machine he has built while pillaging Illinois taxpayers for the last half-century, so he is willing to play hostage-taker over the budget with the constituency groups he has fostered, from teachers and colleges to government employees and social services organizations. But Rauner is willing to play the long-game, too, and seems quite ready to stake his governorship on reversing decades of cronyism and mismanagement throughout Illinois’ state government.

Read More »