August 2, 2016 | Wirepoints

Illinois Congresswoman’s Hypocrisy on $15 Minimum Wage Shows Its Flaw – WP Original

August 2, 2016 1 Comment

By: Mark Glennon Hiring a Field Organizer, says a posting by Illinois Congresswoman Jan Schakowsky: “Hours are very long and irregular.” Responsibilities include maintaining “7 day per week presence in office.” Pay: $2,000 per month. The problem is that Rep. Schakowsky is an outspoken supporter of a $15 per hour minimum wage — the “Fight for 15” movement, it’s called. That would be $2,400 per month even if the job took only 40 hours per week, which it apparently doesn’t. In fact, if this is a 60 hour per week job, which it looks like, Schakowsky’s pay would come

Illinois’ stopgap budget spends $8B more than the state takes in – Illinois Policy

August 2, 2016 No Comments

Under the stopgap budget, Illinois will spend $8 billion more than it collects in tax revenues; Illinois needs to enact major reforms to rein in its out-of-control spending and avoid billions in tax hikes.

American Academy of Actuaries and Society of Actuaries disband jointly sponsored Pension Finance Task Force

August 2, 2016 No Comments

Comment: This was a reform group we were hoping would produce some much needed changes in how pensions are reported. Bummer.

DePaul University cancels conservative’s speech – The Hill

August 2, 2016 1 Comment

Comment: Another appalling betrayal of the term, “university.” I know nothing about this speaker, but letting a bunch of intolerant radicals silence him is part of a terrifying trend in higher education.

Don’t Be So Sure That States Can’t Go Bankrupt – Forbes

August 2, 2016 No Comments

If the law should change and a state actually tried to file for bankruptcy, creditors would immediately file constitutional objections under the contracts clause and the 10th Amendment. Some legal scholars think those barriers can be overcome. The argument would go to the Supreme Court and probably take years to be resolved. Comment: I’m not so sure the Tenth Amendment is a big obstacle. (That’s the one that says the states reserve powers not delegated to Congress or prohibited by the Constitution.) It would be entirely optional for a state — a state would have to choose to take advantage

Illinois tax code favors corporate farms over family farms – Illinois Policy

August 2, 2016 No Comments

These property tax bill increases top the list – Chicago Tribune

August 2, 2016 No Comments

Six figure tax bills and huge increases.

Emanuel financial officer hits back at Moody’s for junk rating – Chicago Tribune

August 2, 2016 1 Comment

Comment: This is another illustration of why the rating agency business is so flawed. The raters are hired and paid for by the bond issuers — the politicians. In this case, that’s the city. Moody’s has been more negative about Chicago than others, so they get publicly slammed by the city and lost the city’s business. Everybody in the trade knows how it works: Either shut up about the truth or you’ll be unemployed.