Internal Revenue Service

Madigan’s millionaire tax returns

By Naomi Lopez Bauman
05/22/2014
House Speaker Mike Madigan couldn’t get a progressive tax hike on the November ballot. His next effort, to get an extension of the tax hike, has failed so far. Now, he is back with yet another money-grab scheme. Madigan has proposed an advisory referendum on the fall ballot proposing a millionaire surcharge. (An advisory referendum...

TAGS: millionaire tax

Illinois: $27 billion in tax increases since 2011

05/21/2014
A new report by Americans for Tax Reform shows that Democratic governors have enacted more than $58 billion in tax increases since 2011. Republican governors, on the other hand, have collectively signed more than $36 billion in tax cuts. Maryland Gov. Martin O’Malley, one of the nation’s top five most tax-happy governors, has signed 29 tax increases...

Madigan and Illinois’ million-man migration

By Michael Lucci
05/21/2014
Gubernatorial candidate Bruce Rauner publicly opposes the tax-hike plan championed by Gov. Pat Quinn and House Speaker Mike Madigan. Rauner claimed that raising income taxes again in 2015 will cause more businesses and people to flee the state. Madigan fired back at Rauner with one of the most poorly-conceived statements of this campaign season. Madigan...

U-Haul moving rates shine a light on out-migration

By Michael Lucci
05/05/2014
Illinois has a domestic migration problem. The state is losing too many people. Illinois has lost more people to other states than it gained in every single year since 1985 . And in every year, the people who left earned more money than the people who entered. The Internal Revenue Service released new migration data...

Gallup: Half of Illinoisans would leave the state if they could

By Michael Lucci
04/30/2014
Gallup released a stunning poll that shows 50 percent of Illinoisans want to leave the state, the highest percentage of any state nationally. This comes a week after Illinois’ worst-in-the nation performance in a Gallup poll that showed one in four Illinoisans consider Illinois to be the worst possible place to live. If Illinois government...

Chicago’s collar counties should get their welcome mats ready

04/16/2014
Expect Mayor Rahm Emanuel’s call for property tax hikes to be a boon for Chicago’s collar counties and Lake County, Ind. Cook County residents have been fleeing to neighboring counties for decades, and Emanuel’s proposed hikes – to prop up city pensions – will only increase the outflow. According to IRS data, Cook County lost...

TAGS: Chicago, property taxes

Union dues are a $15 billion tax deduction

By Justin Hegy
04/15/2014
Union members are allowed to deduct their union dues on their taxes, equating to an estimated $15 billion nationwide. According to the Internal Revenue Service, workers are allowed to deduct union dues as part of their itemized deductions: “You can deduct dues and initiation fees you pay for union membership… You can also deduct assessments for...

Metropolitan area jobs crisis continues

By Michael Lucci
04/10/2014
Illinois’ 10 largest metropolitan areas continue to be plagued with joblessness, according to a release by the Bureau of Labor Statistics. This news comes on the heels of no monthly improvement in the state jobless rate, which at 8.7 percent is 2 points higher than the national average. Illinois has the second highest jobless rate...