Posts tagged "tax"

Why not tax Illinois retirement income?

( Chris Walker, Chicago Tribune / March 7, 2011 ) Tom Donovan, left, former CBOT CEO, greets Illinois Senate President John J. Cullerton before Cullerton spoke at a City Club of Chicago luncheon at a Chicago restaurant. Illinois Senate President John Cullerton denies that he ever called for a tax on retirement income. Even though... Read more »

How can Illinois (aka Greece) climb out of its deep budget hole?

Tribune columnist Eric Zorn and I debate how Illinois could–if ever–resolve its financial crisis.  To Eric from Dennis: We have seen Greece, and it is us. When Greek mobs were rioting over government austerity measures needed to secure sufficient international loans to keep the country afloat, the discussion on CNBC immediately turned to whether the... Read more »

Bill Brady's tax sin

(This post contains a correction.) Uh, oh. Republican gubernatorial candidate Bill Brady reluctantly released his income tax returns and we now we know: He didn’t pay federal income tax in 2008 and 2009! Nor did he pay state income tax in 2008! Bill Brady: Tax hypocrite? This, we’re instructed, is bad news for Brady and... Read more »

Huge majority favors tax cut over government spending

By a roughly six-to-one margin, Americans favor cutting taxes, as opposed to increasing government spending, as a way to create jobs. The latest Rasumssen poll shows that “59% of voters nationwide believe cutting taxes is better than increasing government spending as a job-creation tool.” Remarkably, only 15 percent think that increased government spending is the... Read more »

Another stupid Illinois tax

In an effort to mine every source of revenue, the desperate and financially collapsing state of is comes up with some real doozies. This one, to take effect on Jan. 1, imposes a big jump in the fee imposed on non-profit organizations for registering with the state.  For the American Civil Liberties Union, the cost jumps... Read more »

Daley's budget non-solutions

This should be rich. Mayor Richard Daley on Wednesday will reveal how he will magically make a half-billion-dollar city budget deficit disappear. Be sure to watch the magic show, beginning at 10 a.m. in the City Council chambers as the city’s chief prestidigitator employs his best-ever sleight of hand to evaporate a $519.7 million (or... Read more »

Tax Breaks for Pets?

Can anyone be so daft as  to suggest that giving tax breaks to pet owners is a good idea? Essentially, this would amount to a subsidy provided by all other taxpayers for someone to a cat or dog. Or some other kind of domestic pet, let your mind run wild. But sure enough. A new... Read more »

A new hidden Tax for O'Hare Airport travelers

Desperate for new money for the O’Hare Airport expansion boondoggle, the Daley administration is placing its hopes on a 63 percent increase on a tax imposed on airline passengers. Under legislation already passed by the House, airport operators, such as Chicago, would be authorized to increase the airline passenger facility charge (PFC) by $2.50, to... Read more »
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