Home Illinois News Want to see how America is changing? Property taxes hold the answer... Want to see how America is changing? Property taxes hold the answer - MarketWatch April 8, 2017 2 Share on Facebook Tweet on Twitter Comment: “The wrong side of the Laffer Curve.” If you don’t know what that means, you should. That’s how we’ve been putting it here for a long time. ShareTwitterEmailPrintGoogleFacebook Read Article Sort by: newest | oldest Andrew SzakmaryThe Laffer curve could conceivably apply to income taxes (albeit evidence that this has happened anywhere in the U.S. is not compelling). But I don’t think it could possibly apply to property taxes, even theoretically. The reason is that the property cannot readily be moved out of state. So if the homeowner leaves, he sells the house to someone else who must continue to pay the tax. The market value of the home may fall to reflect the high tax burden, so the incidence of the tax falls on the leaving homeowner who, for decades, voted for politicians that promised him artificially low taxes while underfunding pensions.… Read more »4 months 9 days agoWirepointsSlapping a homeowner with lost equity is the most just way to pay pensions because they voted for the politicians that underfunded them? Did you really write that and would you say that to a finance class? Sorry, but I have to be blunt: Illinois should pay you zero on your pension while teaching finance. 4 months 9 days ago wpDiscuz Recent Wirepoints Originals Chump Media: Why Sham Votes Happen In Springfield – WP Original August 18, 2017 The Wall Street Journal and FOX Business are among those who botched this one worst. Rahm’s Ramp And The Fate Of Chicago’s Pensions – WP Original August 17, 2017 The can has now been kicked on all four city pensions, as shown on the chart. Plain English Video On Why Phony ‘Balanced’ Budgets Are Key To Our State And Local Fiscal Crises August 16, 2017 If you don't know that state and local budgets are deceitful and nearly meaningless, or you don't know why that's so important to understanding our crisis, spend a few minutes watching the video. Illinois Stumbles Through Fog Towards New School Funding Formula – Wirepoints Original August 14, 2017 We know more now, but distortions abound and key points remain unreported or unknowable. Wirepoints Founder Mark Glennon on WTTW’s Chicago Tonight Discussing Tax Reform – Video – WTTW August 9, 2017 Cook County’s Outrageous Attempt To Charge Plaintiffs $17 Million In Beverage Tax Case – WP Original August 5, 2017 Sanctions against the county's lawyers? Maybe, but without a firm and unequivocal decision against Cook County a dangerous precedent will be set. One Chart Shows Awful Fiscal Trajectory of Chicago Area and Illinois – WP Original July 27, 2017 And here's a promise: The trend will continue. Education Funding Bill is a Monstrosity of Unknown Proportions – Wirepoints Original July 25, 2017 Shame on everybody who has let SB1 get as far along as it has with such little understanding, Republicans and Democrats alike. Rauner’s New Staff, Extremism and the Stockholm Syndrome – Wirepoints Original July 20, 2017 That which can't pass the establishment in the General Assembly and its enablers in the press is "too radical" for Illinois.