Monday, January 11, 2021
Tuesday, January 5, 2021
Thursday, December 31, 2020
Tuesday, December 29, 2020
Wednesday, December 23, 2020
Nicole Cardos | April 19, 2017 4:00 pm
When it comes to U.S. cities with the highest populations, Houston might put Chicago in fourth place by 2030.
That’s according to author and journalist Ted McClelland, who said people should care about these rankings if they want Chicago to retain its status as an international city.
“When you’re a city losing people, it doesn’t look like you’re a healthy city,” said McClelland, author of “Nothin’ But Blue Skies: The Heyday, Hard Times and Hopes of America’s Industrial Heartland” and, more recently, “How To Speak Midwestern.”
The solution? Regional consolidation by annexing the suburbs, he said.
The idea isn’t a new one: the city of Chicago’s borders stretched aggressively in the late 19th and early
Wednesday, December 9, 2020
Bankruptcy is inevitable. Putting it off only increases the pain for the city’s residents and retirees.
The Chicago skyline, May 12.PHOTO: SCOTT OLSON/GETTY IMAGES
Chicago’s pension problems are nothing new. Analysts and observers have known for years that the Windy City’s annual pension contributions were unsustainable. In 2016, the contribution for 2022 was projected to reach nearly $2 billion, 4.3 times what it was for 2014. Despite this gargantuan contribution, the pension plans’ funded ratio was projected to plummet—from a poor 31% in 2015 to an alarmingly low 26% in 2021. I urged Chicago at the time to increase its annual contributions by enough to prevent the funded ratio from dropping below 31%. Doing so would still have left Chicago’s pensions in worse shape than
Monday, November 30, 2020
Monday, November 2, 2020
So there are 18 billionaires in Illinois and around 3500 who are considered Ultra wealthy by Forbes. The Pritzker family is the wealthiest Family in Illinois.
Sunday, November 1, 2020
I’m going to stick with the wisdom of my grandpa and the others who wrote our state’s Constitution and keep the onus on Springfield to solve its financial issues by getting its spending under control.
Fifty years ago, 116 delegates from 58 state senatorial districts were elected to represent the citizens of Illinois to draft a new state Constitution. My grandpa, Martin Ozinga Jr., was proud to be one of those delegates. One important part of that Constitution was the language limiting the power of the state government to tax its citizens. After much debate, the current state income tax structure was adopted as part of the Illinois Constitution, making it very difficult to change without the approval of a significant
Friday, October 30, 2020
Thursday, October 29, 2020
Just so everybody knows.a company called Serco is driving around the neighborhood giving tickets to vehicles with company lettering and or ladder racks.
The legality of this is questionable but Lightfoot needs the money. She will take it from anywhere. People should scream to the local politicians about this. It will have an effect.
just give me that money
Wednesday, October 21, 2020
There will be a $94 million property tax increase in 2021, with an annual adjustment tied to the consumer price increase kicking in after that.
By Fran Spielman Oct 21, 2020, 10:00am CDT
Chicago homeowners and business owners struggling to hold onto their property will have to endure not only a $94 million property tax increase, but also an annual property tax hike every year forward tied to the rate of inflation.
That was among the unpleasant surprises Wednesday as Mayor Lori Lightfoot’s $12.8 billion “pandemic budget” for 2021 landed like a thud in an otherwise empty City Council chambers.
Lightfoot called the property tax increase “modest” in her prepared remarks.
“While the Civic Federation is not opposed to the concept of a graduated income tax and understands the state’s need for more revenue, the rate structure enacted by the General Assembly is anything but ideal,” a statement from the group reads.
By Rachel Hinton Updated Oct 20, 2020, 7:57pm CDT
The Civic Federation on Tuesday joined the opposition to Gov. J.B. Pritzker’s push for a graduated income tax, arguing the rates passed by the lawmakers last year as part of the governor’s proposal are “anything but ideal.”
“While the Civic Federation is not opposed to the concept
Saturday, October 3, 2020
Wednesday, September 30, 2020
Pritzker himself is an honorary member of the Civic Committee of the Commercial Club of Chicago, which argued the proposed measure will result in job losses.
A group of executives from the state’s leading employers on Tuesday came out against Gov. J.B. Pritzker’s proposed graduated income tax referendum, saying approval of the measure on the November ballot “all but promises that Illinois will not address its long-term financial challenges.”
The Civic Committee of the Commercial Club of Chicago said in a statement that its opposition to the
Friday, September 25, 2020
Pritzker wants you to give him a blank check, don't worry, with the exception of the toilet tax refunds, he is a very trustworthy fella
The flurry of warnings and rhetoric came after Lt. Gov. Juliana Stratton’s public threat of the potential 20% tax increase on Thursday.
By David Roeder and Sam Charles Updated Sep 25, 2020, 12:34pm CDT
The debate over Gov. J.B. Pritzker’s top November election priority shifted into high gear Friday as the Democratic governor warned that rejecting his graduated income tax proposal would mean either steep budget cuts or a 20% income tax increase for all taxpayers.
The Pritzker administration’s introduction of the threat of an across-the-board tax increase into the discussion of his coveted “Fair Tax” amendment sparked dueling news conferences between the governor
Tuesday, September 22, 2020
Testifying before a City Council Finance Committee once chaired by his grandfather, Terry Duffy, chairman and CEO of the CME Group, called a transaction tax a “path to fiscal disaster” for Chicago.
By Fran Spielman Sep 21, 2020, 5:50pm CDT
Chicago City Hall, with the Board of Trade building in the background. Sun-Times file
The titans of LaSalle Street warned Monday they would pick up stakes and leave Chicago if the City Council imposes a financial transaction tax to chip away at a $1.25 billion budget shortfall in 2021.
Terry Duffy, chairman and CEO of the CME Group, and Ed Tilly, chairman, president and CEO of Cboe
Wednesday, September 2, 2020
Coronavirus spending, shrinking GDP and tax-revenue decline push government toward milestone
The Congressional Budget Office said the ratio of federal debt to GDP would reach or exceed 100% in the next fiscal year.PHOTO: STEFANI REYNOLDS/BLOOMBERG NEWS
WASHINGTON—U.S. government debt will exceed the size of the economy in the government’s 2021 fiscal year, a milestone not hit since World War II that has been brought into reach by a giant fiscal response to the coronavirus pandemic.
The Congressional Budget Office said Wednesday that federal debt held by the public is projected to