Monday, December 18, 2017

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Recent Wirepoints Originals

Squeezed out, fed up: More property tax hikes from Wilmette to Danville means Illinois risks losing its tax base – Wirepoints Original

State and local officials keep raising taxes despite the sobering fact that Illinois and Chicago have both lost population three years in a row. Illinois will never recover if its tax base continues to flee. Even those in more affluent areas of the state will become fed up and leave when tax burdens get too high.

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US markets up 200 percent, Illinois pensions down 65 percent – Wirepoints Original

Illinois’ pension funds have collapsed during one of the longest bull markets in historySince the end of the Great Recession, the S&P 500 index has recovered and grown by more than 200 percent. At the same time, Illinois’ pension shortfall worsened by 65 percent, to reach $129.1 billion.

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Springfield fiddles while Illinois cities burn – Wirepoints Special Report

Special report: Decades of state mandates have pushed up costs, taxes and debts to unsustainable levels for many cities. They’re either at the brink of bankruptcy because of unfunded pensions or have lost people and businesses due to high taxes and fewer services. The most unfortunate cities, like Danville Illinois, are suffering from both.

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Recent Quicktakes

UPDATED: Update on impact of new tax law on Illinois home values and property tax burden – Quicktake

We now have the key provisions of the new tax bill likely to become law that relate to Illinois home values and our property...

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Major attention to Illinois emigration data from Wall Street Journal but nothing in Illinois press. What gives? – Quicktake

Read, if you have access to it, that Wall Street Journal editorial headlined "Illinois Drives People Away." The primary data it cites is this: The Prairie...

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Teachers’ union to Rauner: Thanks for the money, now we’re endorsing your opponent – Updated – Quicktake

Still largely unnoticed is that the new school funding formula provides an additional $350 million for schools every year for ten years. Governor Rauner...

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