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Thread: Illinois in decline

  1. #106
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    Chicago will raise property taxes by ten percent don't know if that gets CPS through the school year. In two years Chicago residents have seen their property taxes go up by some twenty five percent. But still way below what you guys in DuPage pay. But CPS may need to get another 600-800 Million for next year. Another big tax increase maybe.

    Seven of Illinois Universities have had their bonds lowered to either junk or near junk status.

    I saw this year interesting chart.

    https://twitter.com/kidkapital/statu...356929/photo/1

    From 2000-2017 Chicago had negative buying power slightly but still negative hey not as bad as Cleveland . Don't know if that is related to income either pre-tax or post-tax but obviously its not good. Charlotte is of course holding its own.

    Read that in Cook County there are some 90,000 youth who aren't in school or working. Has to be over ten percent of the youth in Cook County I would think.

    So after Illinois raises the income tax to five percent and it isn't enough. What do you think they will do next. Have a progressive tax?. Move more of the pension costs to rich districts like D41 and D87. Or implement some kind of 401K pension .

  2. #107
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    Does anyone know about or remember the Illinois property tax strike/revolt of 1977? Why don't we start another one? If they could pull it off back then, it has to be easier to organize in today's social media world. These parasites have destroyed our once great state and I have no more money left for them to steal from me against my will.


    http://www.taxpayersunitedofamerica....rty-tax-strike


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    Last edited by tomjefferson; 06-15-2017 at 08:21 PM.

  3. #108
    Administrator Clamato's Avatar
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    Illinois . . . You Put Me In A Happy State. #1985

  4. #109
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    I think the tag line now is smiles after magnificent smiles or something like that. I was certainly smiling when I crossed the Illinois border. Like so many others.

    According to the Tribune Illinois now spends 7B more than it takes in. Now I read that every one quarter percent increase in the state income tax brings in 1B. Not sure if that is right but it sounds reasonable . So to bring in another 7B dollar to balance the budget. Which I guess the Illinois constitution says you are supposed to do would require upping the income tax to 5.50 percent. But I guess they aren't going to do that just jack it up to five percent and jack up some other taxes and a few accounting gimmicks here and there . And hope that whatever court challenges to some of them hold up. And of course have to hope that more people don't continue to leave or quit work. At a certain point some people may figure retiring makes the most sense. So you wonder at what percentage above five percent the marginal gains from raising that tax start to decline. Especially since jobs in Illinois peaked in 2000.

    http://www.deptofnumbers.com/employment/illinois/

    And on July 1st in Cook County that McDonalds meals will go up a lot. Just think you will now have to budget to go to McDonalds . It could become a big thing for families. Or heading to Indiana .

    I don't remember or even hearing about the property tax revolt . But now the best way to deal with the increasing tax burden the politicians and public employee unions continue to force upon the taxpayers of Illinois are to move.

  5. #110
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    Quote Originally Posted by Michael View Post
    I think the tag line now is smiles after magnificent smiles or something like that. I was certainly smiling when I crossed the Illinois border. Like so many others.

    According to the Tribune Illinois now spends 7B more than it takes in. Now I read that every one quarter percent increase in the state income tax brings in 1B. Not sure if that is right but it sounds reasonable . So to bring in another 7B dollar to balance the budget. Which I guess the Illinois constitution says you are supposed to do would require upping the income tax to 5.50 percent. But I guess they aren't going to do that just jack it up to five percent and jack up some other taxes and a few accounting gimmicks here and there . And hope that whatever court challenges to some of them hold up. And of course have to hope that more people don't continue to leave or quit work. At a certain point some people may figure retiring makes the most sense. So you wonder at what percentage above five percent the marginal gains from raising that tax start to decline. Especially since jobs in Illinois peaked in 2000.

    http://www.deptofnumbers.com/employment/illinois/

    And on July 1st in Cook County that McDonalds meals will go up a lot. Just think you will now have to budget to go to McDonalds . It could become a big thing for families. Or heading to Indiana .

    I don't remember or even hearing about the property tax revolt . But now the best way to deal with the increasing tax burden the politicians and public employee unions continue to force upon the taxpayers of Illinois are to move.
    Hi Michael! I missed you positive posts...


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  6. #111
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    Quote Originally Posted by Perplexed View Post
    Hi Michael! I missed you positive posts...
    Positive posts? Please tell me you are being ironic. I have never seen a more miserable and negative poster to this site....and that is saying a lot with some of the posters to this site....

  7. #112
    Forum Regular - Vociferous Class Yossarian's Avatar
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    Quote Originally Posted by Keaton View Post
    Positive posts? Please tell me you are being ironic. I have never seen a more miserable and negative poster to this site....and that is saying a lot with some of the posters to this site....
    Positive posts? You might want to go back and read the majority of your posts.

  8. #113
    Forum Regular Sam Black's Avatar
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    Michael may be a little negative on his Illinois posts, but that doesn't mean he is wrong....

    Just curious - what is the solution to all the financial problems the State of Illinois finds itself in???

    Bankruptcy?

    More taxes?

    Amend the Constitution?

  9. #114
    Forum Regular - Vociferous Class Yossarian's Avatar
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    Michael may be a little negative on his Illinois posts, but that doesn't mean he is wrong....

    Illinois won't get better until Madigan and his ilk are gone.

  10. #115
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    Quote Originally Posted by Perplexed View Post
    Hi Michael! I missed you positive posts...


    Sent from my iPhone using Tapatalk
    Not sure what Michael accomplishes by coming back here to gloat that he's skipped town. Many of us remain here due to important stuff like, oh, jobs, family. And none of us have our heads in the sand about the state of the State. Guess you can move out of Illinois and still not be happy. SAD!

  11. #116
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    Quote Originally Posted by Mary Ozog View Post
    Not sure what Michael accomplishes by coming back here to gloat that he's skipped town. Many of us remain here due to important stuff like, oh, jobs, family. And none of us have our heads in the sand about the state of the State. Guess you can move out of Illinois and still not be happy. SAD!
    Interesting. Some of us left due to jobs and family.....

  12. #117
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    Quote Originally Posted by DTM View Post
    Interesting. Some of us left.....
    Really......you're going to softball pitch that one in to me???

  13. #118
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    Quote Originally Posted by Mary Ozog View Post
    Not sure what Michael accomplishes by coming back here to gloat that he's skipped town. Many of us remain here due to important stuff like, oh, jobs, family. And none of us have our heads in the sand about the state of the State. Guess you can move out of Illinois and still not be happy. SAD!


    Oh I'm quite happy. Majority of the people won't leave for the reasons you mentioned. I do actually think a lot of people have their heads buried in the sand. I certainly don't see much effort being done to address some of the problems. I see the school boards and other local government agencies continue to spend more money. I never see any effort by anyone in power to address any of these issues. Someone like Ackerman makes one impolitic remark and that gets pounced on while his other comments get ignored. But maybe that was the idea right. Attack him for one mistake while his other more reasonable suggestions can get lost. Good strategy but its why Illinois so deep in debt.

    As far as being negative. Well there is this .

    http://www.chicagotribune.com/news/o...618-story.html

    According to Moody's, who is probably more reliable and accurate than anything you will get out of Springfield you are 250B in debt. Or a quarter of a trillion dollars. That amount has gone up twenty five percent in one year. Those are real numbers. As for solutions .

    First your income tax will go up to five percent. No getting around that. Your state is not paying its normal bills on time. After that well maybe a progressive tax because a five percent will only generate 5B , maybe and your state is spending 7B. So you'll still need more revenue. Also this does nothing to cut your current backlog of 14B of unpaid bills. Maybe tax retirement pay . But higher taxes are definitely coming.

    I keep hearing bankruptcy as an option . First its not possible. And even it was life would have to get incredibly miserable for it to be an option. When Detroit filed for bankruptcy it couldn't pay to have its street lights replaced.

    So there higher taxes, lower growth more people leaving . Not Detroit not a total collapse but a just a long slow decline.

  14. #119
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  15. #120
    Love that in the last 24 hours, the majority of posters don't even live in Illinois, yet come here daily.

    Like the ex-girlfriend they are so glad they left, but then keep texting for months and years later.

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