Inflation ensures progressive tax hike will hit an increasing number of Illinoisans – Illinois Policy

As inflation rises each year, the tax brackets remain unchanged. This phenomenon is known as “bracket creep,” and it means taxes rise on more and more people year after year as their nominal incomes increase due to inflation.

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Mark Glennon on AM560’s Morning Answer: Chicago pension buyout plan mostly shifts debt rather than eliminating it, property tax surge doubles inflation over three decades

Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.

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