California

The Cost of Income Taxes

10/05/2010
by Ashley Muchow Arthur Laffer addressed a core issue regarding the economic impact of state income taxes in the WSJ today. Laffer addressed the often ignored negative impact income taxes have on state economies. Illinois’s personal income per capita decreased from 133 percent of the U.S. prior to its 1969 income tax levy,  to just 106 percent...

Renowned Banking Analyst Predicts Gloom and Doom for Illinois

10/01/2010
by Ashley Muchow Meredith Whitney, former banking analyst, and current CEO of Meredith Whitney Advisory Group, doesn’t see anything short of fiscal ruin for a handful of U.S. states. In a Bloomberg interview, Whitney holds up states as the new systemic risks to the U.S. economy.  Her company’s latest report, appropriately titled “Tragedy of the Commons”,...

Grading Governors

09/30/2010
by Kate Piercy Some Governors have adjusted to the economic realities of the last few years better than others. How has our Governor responded? According to the Cato Institute’s 10th biennial survey of the best and worst Governors on fiscal issues, not well. Who were the stars and who were the slackers? The Wall Street Journal reports: The Cato...

Sell the Executive Mansion?

09/17/2010
by Kristina Rasmussen We’ve written about the cost of the Governor’s entourage (you know, your standard retinue of butlers, housemen, and laundresses). Today’s State Journal-Register features a thoughtful letter to the editor on closing the Executive Mansion down as a residence for the governor: In times of economic distress, tough choices have to be made. A family might decide to forego a...

Teachers, Unions, and Transparency

08/19/2010
by Kate Piercy From S.T. Karnick at The American Culture: In case you missed it, LA Times reporters Jason Felch, Jason Song and Doug Smith used California’s public records law to obtain seven years of math and English test scores from the Los Angeles Unified School District. They asked Richard Buddin, a well-respected analyst at the RAND Corporation,...

Film Review: The Myth of the Middle Class School

08/11/2010
by Kristin Nisbet* The Pacific Research Institute and director Nick Tucker created a film adaption of a book titled “Not as Good as You Think” by Lance Izumi, Vicki Murray and Rachel Chaney.  This film of the same name questions the assumption that having a well manicured lawn and owning a house in the suburbs is key to gaining access to...

A History of Excellence…Wait…That’s Not It.

07/28/2010
by Kristin Nisbet A recent piece in The American Spectator by RiShawn Biddle, chronicles Illinois’ less than perfect past.  Biddle explains that as things have gotten hairy for former Illinois governor Blagojevich, the prospect of what’s to come for either Quinn or Brady does not promise “sunshine, lollipops and rainbows.” But even if he lands in prison,...

Spotlight on Spending #8: Illinois Legislators Among Highest Paid in Nation

By Kate Campaigne Piercy
07/22/2010
The Problem Although facing a serious budget deficit, Illinois legislators remain among the best compensated in the nation. Today, Illinois state representatives and senators earn a base salary of $67,836—the fifth-highest legislator salary in the country. Only California, Michigan, New York and Pennsylvania pay their legislators more. Illinois state representatives and senators earn around 47...

Illinois a Higher Default Risk than Iceland, Approaching Iraq

07/16/2010
by Brian Costin On Wednesday, the State of Illinois resorted to more borrowing and sold $900 Million in Build America Bonds to support public works projects. Unfortunately, due to Illinois rapidly deteriorating credit rating taxpayers are paying a premium. On face, the bonds will pay investors an average interest rate of 6.96 percent. Bad enough but...

Is Illinois in Good Hands? Allstate CEO Doesn’t Think So

07/08/2010
by Amanda Griffin-Johnson According to a Bloomberg News article, Thomas Wilson, CEO of Illinois-based Allstate Corporation, recently “called for political leaders to cut costs.” Wilson is quoted as saying “Government borrowing is way out of control. We need to get our house in order.” Bloomberg reports: The middle class is “going to bear the brunt of the...