Posts in category "Taxation"

It's time to tax Illinois retirement income

Here’s one reform that could ease Illinois’ fiscal troubles: Tax retirement income. Illinois exempts from taxation all retirement income, including Social Security, an astonishing fact, considering the state’s ruinous fiscal health. Only two other states, Mississippi and Pennsylvania, are as blindly generous. Most other states tax a portion or all of retirement income, including public... Read more »

Illinois keeping higher income taxes; our neighbors lowering theirs

“Stateline,” a daily newsletter of the Pew Charitable Trust reports, “States Pursue Tax Cuts as Recovery Takes Hold.” Of course not in Illinois where Gov. Pat Quinn wants to makes permanent his temporary, huge income tax increase and House Speaker Mike Madigan and his henchmen are pushing to impose a surcharge on millionaires. As for... Read more »

Top Illinois Democrat goes blind; says state's huge pension debt not a 'crisis'

UPDATED: Illinois Senate President John Cullerton said Sunday that the state’s massive public employee pension debt is not a “crisis,” but instead an issue being pushed by business-backed groups seeking lower income taxes at the expense of retiree benefits. — Chicago Tribune That’s the $100 billion owed by us taxpayers to the government employee pension funds. In... Read more »
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The infamous Lois Lerner of IRS scandal fame tried to bully Illinois GOP candidate in 1996

Lois Lerner, the Internal Revenue Service official who is a central figure in the agency’s scandalous and possibly illegal attempts to intimidate conservative, pro-life and other center-right groups, seems to have gone an early start in her alleged bullying tactics. The conservative blog, Illinois Review, has revealed allegations that Lerner, as head of the Enforcement Division... Read more »

IRS inspector general's report small comfort for Tea Party groups

Following the day’s myriad news stories on Benghazi, Associated Press allegations and the IRS targeting right-of-center organizations, the highly anticipated Treasury Department‘s report on the blossoming IRS scandal released late Tuesday is relatively small comfort for Tea Party groups, according to political strategist and attorney Michael Bakker. The report does strongly suggest that management style of President Barack Obama... Read more »

Mr. President Obama, would you give up your tax loophole?

President Barack Obama is right; we need to get rid of tax loopholes. But which loopholes? And what’s a loophole? It’s today’s great political paradox: Everyone is against loopholes, except that person’s own. We could go a long way toward ending the government’s Ponzi scheme if everyone could stop talking in generalities and get down... Read more »
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If we amend Illinois constitution for graduated income tax, why not also for pension reform?

It takes special gall to raise taxes for some Illinoisans so soon after they were hit with a massive increase in state income tax rates. So, give an audacity award to any “progressive” trying to renew the ill-timed and perennial campaign to replace the decades-old flat tax with a graduated income tax. Rep. Naomi Jakobsso,... Read more »

Thoughts for while Obama and Dems bring down the country

Reflect on these.   1. In my many years I have come to a conclusion that one useless man is a shame, two is a law firm, and three or more is a Congress. — John Adams   2. If you don’t read the newspaper, you are uninformed; if you do read the newspaper, you... Read more »

Obama threatens seniors and veterans; leaves out kids

As negotiations over raising the federal debt ceiling, cutting the budget and increasing taxes comes down to the wire, President Barack Obama thinks he might have to stiff social security recipients and veterans. He said in an interview: “I cannot guarantee that those checks go out on August 3rd if we haven’t resolved this issue,”... Read more »
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Republicans, call and double down Obama's deficit reduction bluff

Even while deficit reduction talks continue between the White House and congressional leaders, Democrats and Republics, pundits already are awarding victory points for President Barack Obama’s challenge to do a really big deficit reduction deal. “If not now, when?” he asked at his press conference today, when he made it appear that Republicans were backing... Read more »
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