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So I'd say Illinois is very friendly to the rich. A nice flat tax and a willingness to spew municipal bonds onto the market the rich can buy, backed by regressive flat taxes.
My advice is if you are not a millionaire living off munis or a school superintendent, get the hell out of Illinois.
I guess when everybody leaves the state to avoid those higher taxes things like this happen.
"Illinois State Comptroller Judy Baar Topinka says when one factors in other bills, the figure is closer to around $8.5 billion. Those other outstanding bills include tax refunds, employee health insurance, and bills that have not yet reached her desk.
Topinka says this is extremely disappointing, since a year ago, the state sharply increased income taxes (by 67 percent) and corporate taxes."
Of course maybe this has something to do with it too.............
Apparently there is no tax money for the barren shelves at food pantries or the lack of beds at homeless shelters or to support the handicapped. But there IS enough tax money to pay for:
A Phys. Ed teacher $203,154 for a 9 month work year.
14,866 teachers made more than $100,000 in 2011.
21 who made more over $1,000/day ($170,000/yr.)
A Drivers Ed teacher who salary is $18,222/month to teach teenagers how to parallel park.
13 teachers make more than the Governor’s $177,500.
Top 100 Teachers average $18,169 per month salary ($163,579/yr).
And all of that is for a 36-week work-year (182 day contracts).
Who the heck approved salaries of more than $100,000 per year, let alone $200,000 per year for a "part time" (182 day) TEACHING position? Absolutely assinine that government employees make so much more than the people that pay their salaries... You have people that are supposed to be negotiating for the TAXPAYERS that sold out and are not doing their jobs. There's no corruption like Chicago corruption.
Still less than $130B - $60B = 70B in 2010. See, math is fun and easy.
If you understood math, I'd be shocked.
What gives you the impression the unfunded liabilities have dropped and not increased? You are assuming things to be true in order to make a point, and we all know what happens when you assume..
Furthermore, the unfunded liabilities arent counted as "debt" for public entities like government, note social security for a prime example!
Who the heck approved salaries of more than $100,000 per year, let alone $200,000 per year for a "part time" (182 day) TEACHING position? Absolutely assinine that government employees make so much more than the people that pay their salaries... You have people that are supposed to be negotiating for the TAXPAYERS that sold out and are not doing their jobs. There's no corruption like Chicago corruption.
Teachers are underpaid, remember? I count over 3000 teachers in IL making six-figure incomes. Staring salary is $50k for a bachelor's degree. Last year, nearly 20 teachers retired in their 50's with $100k pensions.
Who thinks this is reasonable and sustainable? They complain about being underpaid and complain about their pitiful annual raises to the millions in the private sector who are struggling; people who've been laid off, or had hours cut, or who haven't gotten a raise in years.
Skinny, skinny, skinny, unfunded pensions are in ADDITION to the debt total from the OP
Pensions are FUTURE liabilities, unpaid bills are PAST..
Amazing those that defend and excuse disastrous LIBERAL/DEMOCRAT governance don't know this...or they probably DO, but don't want to admit the truth.
As PREDICTED, the huge tax increase implemented by the LAME DUCK democrat congress resulted in MORE people and business leaving the state, less revenue for the state and higher deficits/debt.
WHEN will people learn that to have democrats running things is a recipe for disaster?
Here's the result of the "reforms" from democrats;
Run up spending and debt, raise taxes in the naming of balancing the budget, but then watch as deficits rise and your credit-rating falls anyway. That's been the sad pattern in Europe, and now it's hitting that mecca of tax-and-spend government known as Illinois.
Though too few noticed, this month Moody's downgraded Illinois state debt to A2 from A1, the lowest among the 50 states. That's worse even than California.
If you took a look at the balaance sheets of all 50 states ranked from best to worst, blue Democrat-controlled states such as CA, IL, NY, MI & NJ would all be jockeying for last place.
I guess when everybody leaves the state to avoid those higher taxes things like this happen.
"Illinois State Comptroller Judy Baar Topinka says when one factors in other bills, the figure is closer to around $8.5 billion. Those other outstanding bills include tax refunds, employee health insurance, and bills that have not yet reached her desk.
Topinka says this is extremely disappointing, since a year ago, the state sharply increased income taxes (by 67 percent) and corporate taxes."
Of course maybe this has something to do with it too.............
Apparently there is no tax money for the barren shelves at food pantries or the lack of beds at homeless shelters or to support the handicapped. But there IS enough tax money to pay for:
A Phys. Ed teacher $203,154 for a 9 month work year.
14,866 teachers made more than $100,000 in 2011.
21 who made more over $1,000/day ($170,000/yr.)
A Drivers Ed teacher who salary is $18,222/month to teach teenagers how to parallel park.
13 teachers make more than the Governor’s $177,500.
Top 100 Teachers average $18,169 per month salary ($163,579/yr).
And all of that is for a 36-week work-year (182 day contracts).
A Conservative screaming about what others make...priceless! Who would have thunk it!
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