patrick.net

Liberals always run out of other people's money. Yet they always want to repeat that mistake.

joeyjojojunior says

It's funny that you keep saying that. IL has been run by Republican Governors more often than not.

Both parties are to blame for this mess.

For a long time a solid dem majority in the house. if the constitution says no pension cuts, then amend the constitution. I think IL has the most amount of govt workers with so many jurisdictions having their own admin structure and more pensions. Before you even think of a bailout, cut all the fat.
Walker has done good in WI and in MI, they eliminated pensions for new state govt jobs. Neighboring Indiana has I think 1% cap on property taxes-they seem to be doing good.

Oh great, now you have high income taxes, highest property taxes in the nation and absolutely nothing to curtail pensions. If Trump passes his plan and the high state and property taxes are not deductible, me thinks me buy me some WI and IN border investment proeprties. There will be a flood that will leave this wretched state.

anonymous says

If the news reports are correct, I am sure I heard them say this evening the personal income tax would be 5% after this is resolved.

You should only have one. CA has high state taxes, but 1% proeprty tax on the price of purchase. personally I am fine with income taxes being higher-because if you los eyour job/business/income-you pay nothing.

Property taxes on the other hand-if you lose your job, you are stuck paying 10-12k on a 300k house and the year after it could jump to 15k. Where are you going to scrape for that-when you don't have a job?

In the case of iL-both are high-proeprty taxes are now highest in the nation and state taxes are getting high-did the pension folks give up a cent????

They'll get an emergency bailout and kick the can down the road for another year...Nothing to see here.

lostand confused says

Oh great, now you have high income taxes, highest property taxes in the nation and absolutely nothing to curtail pensions. If Trump passes his plan and the high state and property taxes are not deductible, me thinks me buy me some WI and IN border investment proeprties. There will be a flood that will leave this wretched state.

Yes, a flood of people leaving the miserable state who have to pay all the taxes. What about the swamp of losers who need more money? Hello more taxes.

Interesting to see how the legislature had to override the governor on this one.

The Illinois economy, if it wasn't bad already, is about to get a lot worse. This is how Democrats hollow out the economy of a state.

Democrats offer valuable and generous entitlements like lifetime pensions which are extremely expensive, then increase taxes to pay for it all, which increases the individual tax burden, which in turn causes people and companies to flee, which makes the overall economy (pie) smaller, which in turn makes the original problem even worse.

Democrats keep diving pie so thinly that no one gets any pie. Fine example of liberal economic policies.