Health nuts and anti-tobacco fanatics, get out your streamers and champagne: Cook County’s new $1 per pack cigarette tax hike goes into effect today. Contrary to the so-called health conscious intentions of this tax’s creators, however, Cook County smokers will continue to buy cigarettes. Lots of them. Last year, Cook County brought in approximately $115 million...

If you owed more than $30,000 on your credit cards and were strapped for cash, would you spend $1,500 on a new home entertainment system?

During a lame duck session two years ago, the Illinois General Assembly passed a 67 percent income tax increase on all Illinois families. When the bill was filed in early 2011, almost no one knew of its existence. I was the House staffer on revenue at the time, and I only heard about it at 6...

During a lame duck session two years ago, the Illinois General Assembly passed a 67 percent income tax increase on all Illinois families. When the bill was filed in early 2011, almost no one knew of its existence.

This morning Illinois was forced to delay a $500 million bond sale – essentially, borrowing $500 million to finance state government operations. The delay was due to a drop in lender confidence in Illinois’ credit worthiness.

Learn more about the disadvantages of a progressive income tax.