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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...

Illinois loses 6,800 payroll jobs in April, while Texas gains 64,100 jobs

By Michael Lucci
05/16/2014
Illinois lost 7,800 private-sector jobs in April, and the state jobless rate fell to 7.9 percent, according to the Bureau of Labor Statistics. Illinois remains the worst in the Midwest and third-worst nationally for joblessness. Illinois’ private-sector jobs loss came against a gain of 1,000 government jobs, leaving the state with a net loss of...

CEOs sound off on Illinois’ business climate

By Michael Lucci
05/12/2014
CEOs of major U.S. corporations went on record in Chief Executive Magazine’s “2014 Best and Worst States for Business.” Business leaders pulled no punches in their description of Illinois, going so far as to compare doing business in Illinois to doing business in a third-world country. The publication ranked Illinois at the bottom of the...

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...

1 in 4 Illinoisans think state worst place to live in U.S.

By Naomi Lopez Bauman
04/28/2014
Illinoisans are frustrated. But the depths of that frustration may not have been evident until now. According to a recent Gallup survey: “Illinois has the unfortunate distinction of being the state with the highest percentage of residents who say it is the worst possible place to live. One in four Illinois residents (25%) say the state is...

Did higher taxes create the Minnesota miracle?

By Naomi Lopez Bauman
04/24/2014
A Better Illinois is claiming that the progressive tax and higher taxes on the wealthy are responsible for the “Minnesota miracle.” But the only marvels here are the impressive contortions they used in concluding that higher taxes is what holds Illinois back from impressive job growth and a budget surplus. The problem with their analysis...

Illinois’ recipe for exodus: 7 different tax structures proposed for 2015

By Michael Lucci
03/27/2014
You’re a small business owner planning out your budget for the next five years. You expect explosive growth and a lot of hiring. But your financial future is uncertain, so you factor business risks and uncertainties into your plan. At least you can count on your state government for stability and a clear tax structure...

TAGS: fair tax, graduated income tax, income tax, progressive income tax

Millions that migrate

By Michael Lucci
03/26/2014
House Speaker Mike Madigan has proposed an extra tax on million-dollar incomes. His proposed legislation, HJRCA51, would amend the Illinois Constitution to impose an additional tax of 3 percent on income over $1 million. This tax won’t touch any millionaires who don’t want to pay it. They’ll simply leave, and they are well-equipped to do so. The middle...

TAGS: millionaire tax, progressive income tax