The Illinois Chamber of Commerce and the Chamber of Commerce of each Illinois city need to make their representatives aware of what needs to be done. Bankruptcy legislation that allows municipalities to file when they want to, not when dictators like Madigan allow them.Scrap Davis-Bacon and all prevailing wage laws that drive up costs.National right-to-work legislation that supersedes state legislation.Illinois and other states hamstrung by public unions, pension woes, and high costs need three things at the national level because Illinois is too corrupt and too in bed with unions to fix any problems here. Unfortunately, we cannot expect Madigan to do a damn thing other than demand more tax hikes. The only rational solution is bankruptcy, not higher taxes. On January 9, 2017, I explained Dysfunctional Illinois in One Word, One Idea, One Person. Tax hikes cannot and will not fix this mess. On May 18, 2016, I noted Illinois State Workers, Highest Paid in Nation, Demand 11.5 to 29% Hikes.Īnd on March 14, 2017, I noted Illinois General Assembly Retirement System Only 13.52% Funded: Overall, Illinois Pension Debt Interest Hits $9.1 Billion Per Year. On March 25, 2017, I noted Cook County Illinois Suffers Largest Population Drop In Entire US. But Illinoisans are voting with their feet. If tax hikes worked, Illinois revenue would be up, not down. The Chicago Tribune Commentary says Senate tax hike is a raw deal for Illinoisans. In addition to raising the state’s personal and corporate income taxes back near their all-time highs, the Illinois Policy Institute notes senators propose taxing businesses on the “privilege” of doing business in Illinois. The politicians are after your pocketbook again. The state of Illinois, as well as Chicago and Cook County, have passed big tax hikes in recent years. It’s fitting that Illinois has an “unfunded budget stabilization fund”. With renewed uncertainty of sales tax performance, and with only four months left in FY 2017, it will be very difficult to alter the trajectory of what has turned into a dismal year for revenues. Weakness is widespread, and has resulted in year over year losses in key areas such as income taxes and federal sources. Through the first two-thirds of the fiscal year, base receipts are off $1.453 billion, or 7.5%. One less receipting day likely contributed to the decline, though certainly not the primary culprit. Unfortunately, February’s lackluster performance was widespread with only a couple sources managing to show gains. Like a broken record, monthly declines reflected weaker income taxes along with poor federal sources. Overall base revenues fell $423 million in February. “Israel” is in second place as people link to various Israel-related articles on the web.Compared to last year, February income taxes are down 12.1% Sales taxes are down 7.5%, and public utility taxes are down 34.3%.įor fiscal 2017, general revenues are down a whopping 8.1%, and the state is two-thirds through the fiscal year. Viral videos and images of goats standing on tree branches in Morocco have also resulted in “Morocco” rising into fourth place. Plussers are calling for changes to Morocco’s “rape-marriage” laws after a teenage rape victim committed suicide when she was reportedly forced to marry her perpetrator. North Korea has announced that it has plans to launch a satellite into orbit in April to mark the centenary of its founder Kim Il Sung’s birth. Longtime LA Lakers basketball player Derek Fisher was traded to the Houston Rockets but Google+ users say “he will always be a Laker in my eyes.” Space-related posts on G+ also include videos of LEGO toys in space and a YouTube preview for Angry Birds in Space. Google+ (G+) users are impressed by his death defying three minutes and 43 seconds space jump and are eager to see him break the world record (and, in the process, the speed of sound). On his way to achieving the world record he successfully completed a test flight from 71,581 ft. Austrian base jumper Felix Baumgartner is aiming to break the world record for the longest freefall ever recorded by becoming the first person to jump from 120,000ft above the earth’s surface.
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