Illinois still needs 19 more credit upgrades to get back where it was when Gov. Quinn took office – Wirepoints on with WVON’s Perri Small

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nixit
1 year ago

How is it that Quinn kept getting credit ratings downgrades with the 5% state income tax rate and JB got upgraded? The only new revenue stream is marijuana and the taxes around the BBB program. Quinn actually had smaller pension payments to make. In fact, I don’t think Illinois has been downgraded since the state income tax reverted back to 5% in July 2017. All of Rauner’s downgrades were due to GA gifting him an expiring tax rate.

The only difference I can see is federal dollars.

state_pension_millionaires
1 year ago

Illinois/Chicago (#1-2 in overall tax burden; #1-2 in political corruption; #51, behind Puerto Rico in fiscal condition;)…. …..two things has to happen to stop the collapse of Illinois: (1) hit public union sector remuneration hard, especially retirement pensions and retirement medical and (2) adopt (for real) tough political ethics/corruption reforms ….these two items are the root cause of most of the strife for non public union taxpayers in Ill….if not addressed, (1) incumbents, both dems and reps, should be voted out of office and (2) residents, and especially at least their children, should continue to flee the state until the… Read more »

James
1 year ago

Each of the things you want is a huge mountain to climb. Climbing both is that much less likely in the near-to-midterm future at least. You seem to want it all. Maybe your goals should be a little more achieveably stated.

state_pension_millionaires
1 year ago
Reply to  James

Its “go time” for non public union taxpayers in Illinois. They are older, so parents often dead. Most have begged their kids not to live in Illinois, to avoid the catastrophe we have endured. Remote work and related tools enabled. Yes, home prices, cause they are used as collateral for the 7 figure Illinois public pensions, have drastically under-performed most of the rest of the country, are huge handcuffs–but we will shake that off. The legislative looting of our assets has not been incremental, its time the responses by our legislators, finally, is not incremental (peanuts). No longer acceptable. Illinois/Chicago… Read more »

James
1 year ago

Responding “quickly” isn’t in the tarot cards. Quickly is more likely “eventually.”

ProzacPlease
1 year ago
Reply to  James

We’ll get around to it when we feel like it? Meanwhile, the dumpster fire continues to burn…

James
1 year ago
Reply to  ProzacPlease

Seems like you are on the right track. “We’ll think about it” is the political ploy of the current era.

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A statewide concern: Illinois’ population decline outpaces neighboring states – Wirepoints on ABC20 Champaign

“We are not in good shape” Wirepoints’ Ted Dabrowski told ABC 20 Champaign during a segment on Illinois’ latest population losses. Illinois was one of just three states to shrink in the 2010-2020 period and has lost another 300,000 people since then. Ted says things need to change. “It’s too expensive to live here, there aren’t enough good jobs and nobody trusts the government anymore. There’s just other places to go where you can be more satisfied.”

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