The list of reasons for denying government workers the benefits of 401(k)-style plans in favor of politician-controlled pensions is short at best, and it’s growing shorter every day.
Leibundguth Moving & Storage has been in Downers Grove, Illinois, since 1928, and for over 70 years it has had a hand-painted sign on the back of its building facing the Metra commuter rail tracks.
Had Illinois managed the recession and recovery on par with the rest of the U.S., there would be an additional 300,000 Illinoisans working today, and an additional 220,000 payroll jobs.
Action, or lack thereof, on the 2011 income-tax hikes, a minimum-wage increase, SEIU training and more affect Illinoisans in the wake of a lame-duck death.
With a lame-duck session dead in the water, the 2011 income-tax hikes will sunset on schedule; a minimum-wage debate will wait until Rauner takes office; and taxpayers will not be on the hook for a state-funded health insurance exchange.
Illinois’ tax code stands in the way of the state’s economic competitiveness. The combination of high tax burdens and a poor tax structure contributes to the loss of jobs and investment to other states. From a place of former economic dominance, Illinois now ranks 45th in gross state product (GSP) growth over the past decade...