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Posted on 5/13/18 at 10:02 pm to wickowick
Won’t take long before U-Haul pays a bonus to return moving vans back to the land of Lincoln! 
Posted on 5/13/18 at 10:02 pm to wickowick
Keep voting democrat, Illinois. One day it will pay off.
Posted on 5/13/18 at 10:04 pm to wickowick
Yet another example of why government pension plans should be outlawed and replaced with IRA / 401k plans instead so we unfunded pensions wreaking havoc on state and local budgets down the road.
Posted on 5/13/18 at 10:08 pm to wickowick
Inflation
Government will have to turn money printers on highest RPM and print the hell outta money and create inflation. Gotta make dollar worth less
Get your cash outta the bank where it’ll depreciate, and invest it?
Can anyone tell me what’s best investment guaranteed to appreciate?
Government will have to turn money printers on highest RPM and print the hell outta money and create inflation. Gotta make dollar worth less
Get your cash outta the bank where it’ll depreciate, and invest it?
Can anyone tell me what’s best investment guaranteed to appreciate?
Posted on 5/13/18 at 10:13 pm to SloaneRanger
quote:They are somewhat similar in Texas, but it also doesn't have an income tax. In fact, the state doesn't collect ANY property taxes. The vast majority of taxes are collected by school districts.
Property tax rates like this are insane
Posted on 5/13/18 at 10:16 pm to HubbaBubba
quote:
quote:
Property tax rates like this are insane
They are somewhat similar in Texas, but it also doesn't have an income tax. In fact, the state doesn't collect ANY property taxes. The vast majority of taxes are collected by school districts.
Yea, property taxes in Texas are crazy as well, but Texas doesn't have a 5% income tax and a 10% sales tax (in Chicago, at least) on top of all the sugar, alcohol, and vice taxes. Texas also isn't losing economically-productive residents every single year, either.
The only redeeming quality is that Illinois public schools outside of CPS are very, very good. Suburban Chicago public systems are some of the best in the country.
This post was edited on 5/13/18 at 10:22 pm
Posted on 5/13/18 at 10:18 pm to Chuker
quote:
I'd move.
one problem with that
quote:
Efficiency:
Standard economic theory predicts that home values go down in response to new property taxes (that is, they are “capitalized” into home values). Current homeowners would not be happy about this, but it would be a good result for the Illinois economy. That’s because the new taxes wouldn’t affect people thinking of moving to Illinois. While they would have to pay higher property taxes, that would be offset by not having to pay as much for their new homes.
In addition, current homeowners would not be able to avoid the new tax by selling their homes and moving because home prices should reflect the new tax burden quickly. (We included this “tax penalty” effect in our calculations below.)
Posted on 5/13/18 at 10:23 pm to HubbaBubba
Ehhhh
I think a relatively marginal amount does go to the state. Which makes sense, because most public services are taken out at the local level. As it should be.
I think a relatively marginal amount does go to the state. Which makes sense, because most public services are taken out at the local level. As it should be.
Posted on 5/13/18 at 10:23 pm to wickowick
Forbes: Why Illinois Is In Trouble - 63,000 Public Employees With $100,000+ Salaries Cost Taxpayers $10B
But just keep voting them in, people.
quote:
20,295 teachers and school administrators – including superintendents Joyce Carmine ($398,229) at Park Forest School District 63, Troy Paraday ($384,138) at Calumet City School District 155, and Jon Nebor ($377,409) at Indian Springs School District 109. Four of the top five salaries are in the south suburbs – not the affluent north shore.
10,676 rank-and-file workers and managers in Chicago – including $216,200 for embattled Mayor Rahm Emanuel (D) and $400,000 for Ginger Evans, Commissioner of Aviation – including a $100,000 bonus. Timothy Walter, a deputy police chief, made $240,917 – that’s $146,860 in overtime on top of his $94,056 base salary. Ramona Perkins, a police communications operator, pulled down $121,318 in overtime while making $196,726!
9,567 college and university employees – including the southern Illinois junior college power couple Dale Chapman ($465,420) and Linda Terrill Chapman ($217,290). The pair combined for a $682,000 income at Lewis and Clark Community College. Fady Toufic Charbel ($1.58 million) and Konstantin Slavin ($1.04 million) are million-dollar doctors at the University of Illinois at Chicago.
8,640 State of Illinois employees – including $258,070 for Marian Frances Cook, a “contractual worker” at the newly created Dept. of Innovation and Technology. Further, there are the “barber” and “teacher of barbering” positions in the state prisons making $100,000+. Loreatha Coleman made $254,781 as a nurse at the Dept. of Corrections.
8,817 small town city and village employees – including 84 municipal managers out-earning every U.S. governor at $180,000. These managers include Lawrence Hileman (Glenview – $297,988); Michael Ellis (Grayslake – $264,486); Robert Kiely (Lake Forest – $255,247); Kevin Bowens (Libertyville – $254,428); and Richard Nahrstadt (Northbrook – $250,248).
But just keep voting them in, people.
This post was edited on 5/13/18 at 10:25 pm
Posted on 5/13/18 at 10:24 pm to TigerintheNO
Have to move fast
Posted on 5/13/18 at 10:33 pm to wickowick
quote:
This means that homeowners with homes worth $250,000 would pay an additional $2,500 per year in property taxes, those with homes worth $500,000 would pay an additional $5,000, and those with homes worth $1 million would pay an additional $10,000.
And yet how many of these taxpayers are actually covered by the state’s pension? Basically, it’s taking at least 2500 dollars a year out of some non govt workers pocket, money that they could put towards their own retirement and giving it to the state to cover their workers retirement. So the average homeowner is robbed of at least 75000 dollars plus interest over the next 30 years. That’s 75000 dollars that they can’t invest in their own retirement because the state mismanaged its workers retirement. frick that!
Posted on 5/13/18 at 10:39 pm to wickowick
A. Wisconsin and Indiana will LOL. Chicago is within 45 minutes of either
B. This might make IL a bit more Republican (at least in off year elections)
C. Southern IL might want to see if they can secede from No IL.
B. This might make IL a bit more Republican (at least in off year elections)
C. Southern IL might want to see if they can secede from No IL.
This post was edited on 5/13/18 at 10:42 pm
Posted on 5/13/18 at 10:53 pm to SirWinston
This will force companies to relocate to Florida or Texas because they won’t be able to attract employees to live in Illinois.
Posted on 5/13/18 at 10:56 pm to wickowick
If only some Messiah would cone along to organize that community.
Posted on 5/13/18 at 11:18 pm to wickowick
Apparently, the way to do this is a secret known only to The City of New Orleans. You
Collect all the property tax, hotel tax, tourista tax and sales tax you can and...then give it to the government workers union to retire unfunded retirement liabilities.
Collect all the property tax, hotel tax, tourista tax and sales tax you can and...then give it to the government workers union to retire unfunded retirement liabilities.
Posted on 5/13/18 at 11:34 pm to wickowick
quote:
Illinois’s best option is to impose a statewide residential property tax that expires when its unfunded pension liability is paid off.
Raise my taxes so some state worker can retire at age 54 with a full pension and benefits. Yeah, screw that.
Posted on 5/13/18 at 11:38 pm to Ag Zwin
quote:
Ag Zwin
quote:
Forbes: Why Illinois Is In Trouble - 63,000 Public Employees With $100,000+ Salaries Cost Taxpayers $10B
Great article man. And think about how those taxpayers will be paying these workers that same amount all through their retirement up until the day they die!
Posted on 5/13/18 at 11:48 pm to wickowick
Hey, I have an idea, lets grow government even more!
Posted on 5/14/18 at 12:27 pm to TDFreak
quote:
Great article man. And think about how those taxpayers will be paying these workers that same amount all through their retirement up until the day they die!
NY and CA get all the press and uproar for being Democratic strongholds. They are amateurs at the true corruption of the Democratic machine. Chicago is like Huey Long, only orders of magnitude bigger, smarter, and meaner. The big difference between there and the coasts is that there are not as many loud loonies making the headlines, and Chicago people don't come across as so "elitist". This lets the machine do its work in quiet and obscurity.
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