Posts in category "Taxes"

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 »

Religious and pro-life groups also harassed by IRS

The popular impression is that President Barack Obama’s Internal Revenue Service harassed only tea party and patriot-like groups seeking tax-exempt status. If it were only so. Allegations of IRS harassment of pro-life and religious groups reach as far back as Obama’s early administration and extend beyond the agency’s Cincinnati office, which is the focus of... Read more »

Estimates of revenue from legalized pot sales could go up in smoke

Reminds me of all the promises made about how the Illinois lottery would be a big help for state schools. Ha, ha.
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Obama genuflects before Big Business

His fiscal cliff deal contains big corporate tax breaks It was his chance to get rid of off-shore tax advantages and other corporate welfare. So, why did he insist they be part of the Jan. 1 financial rescue? Here’s the essence of the deal that the White House and Congress reached to pull America back... Read more »

Just how much taxes should the rich pay to be fair?

There are few good answers What’s fair? Upon that question revolved a presidential election and the economic future of America. What’s not fair, we’re told, is rich people not paying higher taxes. But no one seems able to say just how much more they should cough up. The fairness argument won President Barack Obama re-election... Read more »

New Obama taxes that will hit the 99 percent

Ever hear of the Flexible Spending Account (FSA) Cap? Or the Medical Itemized Deduction Hurdle? If not, you should know that they are among the seven new taxes you can rack up to President Barack Obama that’ll hit the middle class. Curious? The sorry tale is at Brietbart.
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Do you think that you could live on a $427,000 pension?

That’s what a retired University of Illinois professor rakes in. According to Jim Tobin, of Taxpayers United of America, a bunch of others also are pulling in the kind of pensions that the Illinois public employee pension system simply cannot sustain. His press release reads: The most outrageous pensions in all the Illinois state pension... Read more »

Illinois unemployment rate increased most in the nation in 2011

According to the Illinois Policy Institute: As Gov. Pat Quinn prepares for the State of the State address on Feb. 1, he will find it difficult to defend the state’s economic policies that have resulted in more unemployed Illinoisans in 2011. Almost a year after Illinois’ record income tax increase, the state’s unemployment woes contrast... Read more »

IL temporary tax increases may not be so temporary

An increase of $7 billion is not enough to cover spending. To no one’s surprise. Illinois Statehouse News takes a closer look at what the state’s huge income tax increase is doing to extricate Illinois from its pathetic economic condition. Apparently, not enough. The article considers the possibility of making the tax increase permanent when... Read more »
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It's bad enough that pensions are draining Illinois dry; now Sears and others also want to

If Ohio wants to shower Sears Holding Corp. with $400 million to lure the retailer away from Hoffman Estates, I say, “Fine, do it.” And let Ohio Gov. John Kasich (R) explain to his taxpayers why his state’s bribe is four times greater than the $100 million that Illinois reportedly had offered. But if I... Read more »
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