Matt Fabian, a partner at Municipal Market Analytics, said the converging crises - budget deficits at the city, CPS, and mass transit - raise the odds for the state to help out. "The state has the ability to raises taxes if it needs to. It can design new taxes. It could increase the income tax. It could find ways to extract more money," he said.
Matt Fabian: “The state has the ability to raises taxes if it needs to. It can design new taxes. It could increase the income tax. It could find ways to extract more money.”
mqyl: “The residents have the ability to relocate to another state.”
Fed Up Taxpayer
9 months ago
The state can “extract” money. Not a great way to run a state to compensate for failed economics. It would be more helpful if woke advisors stopped thinking that way too. Default is on the horizon.
Leaving Soon, just not soon enough
9 months ago
Buy Chicago Bonds at your own risk. The chances of being paid are going down every minute of the day. It is a very risky investment.
Yeah, it seems not a day goes by without reading of another ill-conceived idea to raise revenue. I guess that’s what you get when these decision-makers, as a normal course of action, leave significant spending cuts off the table.
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
Matt Fabian: “The state has the ability to raises taxes if it needs to. It can design new taxes. It could increase the income tax. It could find ways to extract more money.”
mqyl: “The residents have the ability to relocate to another state.”
The state can “extract” money. Not a great way to run a state to compensate for failed economics. It would be more helpful if woke advisors stopped thinking that way too. Default is on the horizon.
Buy Chicago Bonds at your own risk. The chances of being paid are going down every minute of the day. It is a very risky investment.
Yeah, it seems not a day goes by without reading of another ill-conceived idea to raise revenue. I guess that’s what you get when these decision-makers, as a normal course of action, leave significant spending cuts off the table.