Ted joined Jeff Daly to talk about the problems in Illinois due to the loss of the federal covid money. Illinois is about to get even more expensive for struggling residents. With the covid money dried up, deficits are hitting all levels of Illinois government. Politicians are looking for tax hikes and bailouts to fill those holes. Bad policy will also hit Illinoisans wallets. Electricity bills will rise as coal and gas plants shut down due to the state’s green energy mandates. None of that is affordable for Illinoisans struggling to find good jobs. Illinois still has one of the highest unemployment rates in the nation.
Read more from Wirepoints:
- Don’t look now, but here come the tax hikes on Illinoisans – Wirepoints
- Illinois’ looming energy crisis: ‘It appears the alarmists were right, and Pritzker and the green lobby were wrong’
- Illinois unemployment worsens for 8th-straight month in August, nation’s 3rd-highest
- No ShotSpotter and no cash bail in Chicago is a big mistake. 8 reasons why
- Chicago Public Schools is in dire financial straits, yet Chicago Teachers Union blocks closing of near-empty, failing schools.
Expect no retraction or apology. This what they do.
The state’s existing buyout program for its own pensions is the precedent for Chicago, which should be a warning: Look out for similar exaggerated claims and shoddy analysis.
Folks, this article is why those of you that manage to save do so in precious metals. Think stack and not dollars in your bank account.
Im going to go out on a limb and say useless social services, illegal immigration aid, boneheaded costly decisions and good old IL grift is where the “ fun money “ went.
Not remotely realistic to be looking at tax cuts in Illinois right now, not with the failure of the Fair Tax referendum four years ago and how hosed we are for pension expenses due to the broken promises of the 1990s. We’re in a state of permanent austerity until all who were public employees at any point during the underfunded public pension era of 1997-2010 have passed away, a progressive income tax has been adopted and public sector unions have been tamed. It’s a very difficult situation and very different from other neighboring states and it is going to require… Read more »
For the most part I agree with your comments. However, a “Progressive’ (aka redistribution/socialism) income tax is just a back door attempt to raise ever more money for the state to spend, penalize those who work and save while do nothing to really solve the deficit. The only way a Progressive income tax would be remotely desirable would be to freeze all levels of government to no more than CPI increases, while simultaneously using the ‘extra’ money to pay off all debts/pension obligations. And most importantly, have it sunset after five years with no possibility of it being renewed without… Read more »
Enact a progressive or any other kind of tax hike and the money, if history is any guide, will be squandered. Incidentally I thought Quinn’s income tax was going to solve things, the lottery was going to solve things, the casinos blah blah etc. Tier 2 pensions have been instituted that pay bare bones benefits that are at the very edge of Social Security regulations. No tax hikes are needed but what is needed is spending cuts and we can start right off with the immigrant situation. The taxpayers have conceded enough; it is time politicians quit spending.
At this point, does anyone really need to ask where it went? Do you really not know?
“ Does it really matter?” Hillary Clinton.