-- Connecting the dots between our economy, government and business --
Wirepoints President Ted Dabrowski joins Scott Slocum on WJOL to talk about the recent census data.
See the analysis of Illinois here: New IRS migration data: Illinois third-biggest loser of people, biggest loser of incomes, to other states in 2019
See the analysis of the nation here: New IRS data reveals which states won and lost the competition for people and their wealth in 2019
Summary and audio linked here.
If this bill passes, say goodbye to local control over all Illinois parks and expect to see open drug and alcohol use, needles, no sanitation and fire hazards, but no ordinary park users.
Summary and audio linked here.
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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Audio and summary
Averages are great, but they don’t exist in reality.
Just a few years ago it was estimated Illinois had +500k illegal aliens residing in the state, welcomed in to the sanctuary. They came only with open hands. It’s worse than the data suggests.
Everything is great in Illinois. No one wanted those rich people there anyway….
I wonder how many illegal immigrants and others are not included in the IRS data?
http://www.americanimmigrationcouncil.org/research/immigrants-in-illinois
http://www.newsmax.com/FastFeatures/illegal-immigration-Illinois/2015/09/14/id/691540
http://www.fairus.org/Illinois
http://www.chicagotribune.com/news/ct-met-undocumented-immigrants-gfx-20170103-htmlstory.html
https://immigrationroad.com/resource/illegal-immigrants-by-state.php
http://www.dhs.gov/immigration-statisticsr
https://nationaleconomicseditorial.com/2017/07/04/illegal-immigration-cost-illinois
http://www.statista.com/topics/3454/illegal-immigration-in-the-united-states
https://thefederalistpapers.org/us/new-map-cost-illegal-immigration-state-2
And how many crossing the southern border since Joe Biden opened the floodgates have made their way to Illinois?
One objective reason this downtrend of private sector household income matters: A robust residential real estate market requires a large pool of potential buyers. Potential home buyers typically need to qualify for a mortgage loan. To qualify for a mortgage loan, monthly payments must not exceed a certain percentage of gross household income. The formula is: mortgage obligation payments (which include property tax escrow) divided by gross income must not exceed the required ratio. As household incomes decrease, and property taxes inexorably rise to pay old and new public-benefit-entitlements, the ratio pressures home values lower…because home prices are the only… Read more »
Bravo Susan. Is there data in Illinois which in any way shows that when home values decrease property taxes go down? My impression is they don’t decrease, and may even rise.
The measure of property-tax-relative-to-property-value is the property tax rate.
Property tax rates represent the ratio of public
spending to the means of the taxed community.
A comparison of property tax rates throughout the nation is a good way to see whether the taxing bodies are spending beyond the means of their community and by how much.
One place to find historical (10 years) data on tax rates in any given taxing district is in the back section of official statements of muni bonds issued by taxing bodies.
emma.msrb.org