Monthly Archives: October 2015

Taxing Retirement Income: Adding a Second Story to a House with a Crumbling Foundation

The Chicago Tribune recently reported (behind its paywall): “[Republican Senate Leader Christine]Radogno said lawmakers likely will consider hiking the state income tax or taxing retirement income, rather than increasing the state sales tax or instituting a tax on services.” If … Continue reading

Posted in Income Taxes | Tagged | 2 Comments

I’m Shocked! Shocked to Find That Illinois Can’t Make Its Pension Payments!

From Bloomberg Business: Illinois will delay payments to its pension fund as a prolonged budget impasse causes a cash shortage, Comptroller Leslie Geissler Munger said. The spending standoff between Republican Governor Bruce Rauner and Democratic legislative leaders has extended into … Continue reading

Posted in Public Pensions | Tagged | 1 Comment

Education Part V: Property Taxes, the Well Has Gone Dry

“The State has the primary responsibility for financing the system of public education.” Constitution of Illinois, Article X, Section 1 Question: Why do property taxes keep going up? Answer: Because they can. Over the past several posts, I’ve discussed the … Continue reading

Posted in Education, Property Taxes | Tagged , , , | 1 Comment