It may seem obvious that a business owner should have the right to sell their business to someone else. But in Chicago, basic property rights take a back seat to arbitrary regulation and a system of aldermanic privilege that can put those rights in the hands of a single politician. Parlour on Clark, a once-popular...
More mobile than any generation before them, millennials need retirement plans, such as 401(k)s, that are just as flexible. But if you’re a millennial looking to become a state-government worker in Illinois, you may want to look elsewhere. Mobility isn’t a priority for state officials. Illinois almost exclusively offers its government workers traditional pension plans....
The controversy surrounding Chicago’s red-light camera program just got even more interesting. A judge revealed he is dismissing tickets by the fistful while former key players in the program have been indicted on federal bribery charges. Less than two weeks after Chicago Mayor Rahm Emanuel announced that the city will be reviewing more than 16,000...
Illinois taxpayers and government workers got proof in 2013 that politicians can’t be trusted to manage public-worker retirements. That’s when the Securities Exchange Commission charged Illinois with securities fraud. Now, Kansas joins Illinois and New Jersey as one of three states to face SEC civil charges for misleading investors about the health of their pension...
Illinois has the lowest credit rating in the nation. And just like people with poor credit scores, the state must pay higher interest rates. Higher rates mean higher interest payments that drain the budget and leave less money for education, health care and public safety. For every $1 billion of new borrowing, Illinois taxpayers are...
Illinoisans enjoyed a larger paycheck than their Iowa counterparts for 30 years – until 2012. For the first time ever, the median household in Iowa surpassed its Illinois counterpart, according to the U.S. Census Bureau. If you lined up all households in order of income, the median household would be the one in the very...
Aug. 11 marks the start of National Employee Freedom Week, when nonprofit organizations in 44 states reach out to workers across the country to let them know they have choices when it comes to union membership. Even in states that do not have a Right-to-Work law, such as Illinois, workers don’t have to join a...
Gov. Pat Quinn is claiming that Illinois is making a comeback. But the evidence, supported by public opinion, belies that fact. Illinois remains an economic basket case: The state has the fastest-shrinking workforce in the nation Illinois has the second-highest property taxes in the country, as well as a high tax burden on individual and business incomes Illinois is the third-most corrupt state in the country Illinois loses one resident...
The bad news keeps piling up for Illinoisans. Illinois Policy’s “corruption watch” blog series hit a new high in the month of July with nearly 100 corruption-related stories. Chicago and Springfield are the two cities most synonymous with the state’s corruption woes. Unsurprisingly, both cities dominated headlines with the top two corruption stories of the...
Can Cook County make its residents pay taxes on things they buy elsewhere? This week an Illinois appellate court said no, upholding a lower-court decision striking down the county’s “Non-Titled Personal Property Use Tax,” which charged an extra tax on Cook County residents who bought goods worth more than $3,500 outside of the county. In...
Over the last three decades, private-sector companies have transitioned away from traditional pension plans and toward 401(k)-style plans for their employees. While the traditional pension plans were unpredictable and unmanageable, these 401(k)-style plans offered companies a greater level of certainty in their budget and gave employees greater control over their retirement accounts. Today, 85 percent...
Illinois is now gearing up for the second round of ObamaCare open enrollment period that begins on Nov. 15. ObamaCare was passed with the promise that it would drastically reduce the number of uninsured Americans. Illinois’ state officials originally aimed to reduce the eligible uninsured adult population by half by the end of the first...
The Affordable Care Act, or ACA, commonly referred to as ObamaCare, was supposed to cut Illinois’ eligible, uninsured adult population by half by the end of March 2014. The state achieved only half of its goal. About one-quarter of Illinois’ eligible uninsured adults have obtained health insurance coverage under the ACA. The state’s original goal was to move half of...
Illinois has the lowest credit rating in the nation. The sad truth is Illinois hasn’t been a AAA-rated state since February 1979 – when a gallon of gas cost less than a dollar and the Dow Jones Industrial Average hovered in the low 800s. The state’s credit rating has been in a downward spiral ever...