Showing posts with label Financial mess. Show all posts
Showing posts with label Financial mess. Show all posts

Monday, January 11, 2021

Madigan is on the ropes, thanks to the tag team of Pritzker and Beetlejuice


done in by liberal extremist

If you think things are bad in Illinois, wait. Madigan was the guy, the only guy, holding it all together!

Thursday, December 31, 2020

$4,459 Silver!

This ratio factor is something a prudent investor should consider. 

Wednesday, December 23, 2020 now the time?

Regional Consolidation Might Save Chicago, Author Says
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

It's going to happen, just a matter of time

Chapter 9 Is the Best Bad Option for Chicago’s Pensions
Bankruptcy is inevitable. Putting it off only increases the pain for the city’s residents and retirees.
Who is to blame? Richie, Rahm, all the current and past aldermen that failed to ask the hard questions; and of course Lightfoot, whose malfeasance has absolutely pushed the city to the brink. Bankruptcy gives our current leaders a chance to make it right.  It's a chance to undo the wrong, to make our city livable again, to return to that place our forbearers envisioned. To not take this step is to turn a blind eye to the reality about to overtake us. 

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

So many Biden voters are about to get what they asked for


America’s Pride In The Economy Is About To Be Greatly Shaken As Tens Of Millions Face Eviction In 2021

Unless there is emergency intervention, tens of millions of Americans could be facing eviction once the holiday season is over.  We kicked the can down the road throughout 2020, but all of the rent that was originally owed to landlords all over the country is still due, and they are very eager to collect.  Countless landlords are on the verge of financial ruin because of the rent moratoriums which were put in place, and kicking the can down the road even more would be absolutely disastrous for them.  Of course it would also be absolutely disastrous if the moratoriums are not extended, because in some states more than half of all households are behind on their rent or mortgage payments, and most of

Monday, November 2, 2020

Made in the USA, banked in the Cayman Islands

           the family fortune was made fairly and honestly and thats why you should vote for the fair tax

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

Fair Tax and other BS

Springfield should not be trusted with more taxes

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.

Andreas H./Pixabay

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

Revenue Agents

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

Laying the groundwork for future tax increases too

Lightfoot’s pandemic budget includes annual increase in property taxes tied to inflation rate

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

Mayor Lori Lightfoot unveiled her 2021 budget on Wednesday. Ashlee Rezin Garcia/Sun-Times

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.

Pritzker's fair tax is not that fair!

Civic Federation opposes Pritzker’s income tax plan: ‘Nothing in the package protects any one group of taxpayers’, it's nothing more than a money grab

“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

Gov. J.B. Pritzker, left, last month; Laurence Msall, president of the Civic Federations, right, in 2019. Anthony Vazquez, Rich Hein/Sun-Times file.

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

Wednesday, September 30, 2020

"FAIR TAX" my ass

Group of Illinois’ top employers announce opposition to Pritzker’s graduated income tax amendment

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. 

By Mitchell Armentrout@mitchtrout Sep 29, 2020, 7:14pm CDT

Ken Griffin (left) and Gov. J.B. Pritzker. Sun-Times file

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

Pritzker administration ramps up graduated income tax debate, warning refusal could mean 20% hike for all

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

full of shit

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

City government wants it all

those white guys gots to pay

LaSalle Street titans slam proposed transaction tax on financial exchanges

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

After reading this article, I say buy gold and .556

U.S. Debt Is Set to Exceed Size of the Economy Next Year, a First Since World War II 

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

Thursday, August 20, 2020

Different this time

They’ve Done It Again

The stars are back in their courses. The angels are back in the heavens. And the Perfections are back within sight…
For merely 148 trading days after bottoming… the S&P returned to record heights today.
The index closed the day at 3,389 — eclipsing its February 19 height of 3,386.
Thus Jerome Powell’s maniacal persistence has yielded a reward truly fantastic. He

Eviction risk of 250K Cook County homes if state doesn’t extend moratorium, Sheriff Dart warns

Evictions during the pandemic would force residents to go to homeless shelters or the friends and families’ homes, increasing the risk of coronavirus exposure, Sheriff Tom Dart wrote in a letter to Gov. J.B. Pritzker.

By David Struett@dstru312 Aug 19, 2020, 6:57pm CDT

Cook County Sheriff Tom Dart Sun-Times file

Cook County Sheriff Tom Dart Wednesday urged Gov. J.B. Pritzker to extend the state’s evictions