by Amanda Griffin-Johnson As the debate over whether or not to extend the Bush tax cuts continues, Veronique de Rugy of the Mercatus Center adds some much needed perspective by comparing the size of the tax cuts to the amount of spending over the next decade. In The American, the journal of the American Enterprise Institute, Dr. de...

Apparently Bill Gates, Sr. is not smarter than a 5th grader because he seems to think the correct answer is 74.  Mr. Gates is advocating for a progressive income tax increase in Washington state.  He has put $500,000 of his own money into the initiative campaign to impose this tax on the people of Washington. That data...

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...

by Wesley Fox Like many states, Illinois faces severe budget problems resulting from the economic recession.  Illinois’s budget problems are made worse by the massive cost of its Medicaid program.  According to the National Association of State Budget Officers, Medicaid represents approximately 30% of the Illinois budget. Only two other states (Maine and Missouri) commit more of their...

by Amanda Griffin-Johnson Over the weekend, unions in France protested pension reform plans, which include raising the retirement age from 60 to 62. The reforms are an effort to maintain France’s AAA credit rating and limit the growing public debt. But the reforms are rubbing some the wrong way. Reuters reports: The unions and the left-wing opposition say the...

On September 30th the Illinois Turnaround Tour made a stop in Rockford. Over 50 people packed the Wallingford Center at the Best Western Clock Tower Resort to hear about the Illinois Turnaround Plan of lower taxes; responsible spending; transparent, accountable government; and a business friendly environment that empowers entrepreneurs, investors and workers. John Tillman, CEO...

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”,...

by John Tillman Since the tax hike fight of 2009 (the picture on the left is from my debate on Fox 32 on the merits of a tax hike versus spending reforms – see it here) we have been saying some simple things at the Illinois Policy Institute.  First, our problems are rooted in structural overspending.  Second,...