You can trust public pension apologists to deflect any critique that calls out the failure of defined benefit plans. Unsurprisingly, their response to a recent Wall Street Journal editorial highlighting Wirepoints’ research was just that – deflection via misdirection and victim playing.
Less than 50 cents of every additional property tax dollar over the last 20 years went to pay for services that raise home values. Instead, the primary driver of the rise in property taxes was pension costs.
On the weekend of July 13-15, my wife Margaret and I traveled South to visit with old friends from Nashville. For most of the past 20-plus years, we have met in Memphis, as a sort of rounding spot for our activities. This year for a change we headed east to Louisville, Kentucky, for bourbon, good food and history.
The method by which local governments calculate Illinoisans’ property tax bills is broken. Here’s how Springfield can fix it.
Illinois industry shoulders the burden of the highest workers’ compensation costs in the region. But what many Illinoisans paying some of the nation’s highest property taxes may not realize is that they’re picking up the tab for those costs, too.
Avenues for state oversight for cities with financial difficulties have limited utility in the face of massive pension debt and have almost never been invoked since Springfield passed them into law in 1990.
Alton residents are paying for two overlapping units of government – the city of Alton and Alton Township. But voters will soon have the chance to slash costs by dissolving the city’s redundant township.
Americans are not weak, you are not weak, but if we allow weak political leaders to make decisions for us, we are complicit in where we are being led...where our children are being led.
When it comes to political graft, paying people under the table isn’t too complicated – as long as you have some blurred lines to hide in.
As national jobs growth kept up a steady clip, Illinois saw jobs growth dip after lawmakers passed a historic tax hike.
Severely underwater public safety pensions have already derailed the finances of other municipalities, such as Harvey and North Chicago.
State lawmakers should reform Illinois’ overly complicated sales taxes and other anti-business taxes, which violate guiding principles of sound tax policy.
En route to Rauner’s desk: Victories for licensing reform, regulatory rollback and axing golden parachutes
Nearly 600 bills are on their way to the governor, some of which would be encouraging changes to the status quo.
Illinois’ jobs situation improved in May, but the state needs long-term solutions such as a spending cap to get on a path to fiscal health and assure investors more tax hikes are not on the horizon.
If you want to understand Illinois’ corrupt budget making process, take the example of how the legislature just “cleaned up” some of its unaccounted-for budget deficits.
As Illinois struggles to address its people problem, population loss has plagued communities across the Land of Lincoln. But the shrinkage in some areas has been more severe than others.
Not only are we supposed to accept the fact that our state government is overrun with sexual predators—we are also expected to fund their lavish retirement benefits.