Democrats trying to raise taxes again (Rockford, Elgin: 2014, construction, maintenance)

[Jacobo1]

Originally Posted by lepoisson

What do you guys/gals think will happen? I'm guessing that we will eventually get to the point where the funds run out. How far off are we thinking that is?

I'm not sure what the break point would be. I don't know that it matters. My prediction is a democrat wins in 18, dems pass a tax hike, the money doesn't get used the way its supposed to and we start the cycle of kicking the can down the road again. I don't really see an end in sight. Just more uncertainty. This state needs real reform but it isn't happening as long as Madigan is still kicking.

[RisingAurvandil]

Originally Posted by lepoisson

What do you guys/gals think will happen? I'm guessing that we will eventually get to the point where the funds run out. How far off are we thinking that is?

In a worst-case scenario, the pension systems would reach pay-go status, similar to Social Security. Illinois effectively solved the long-term pension issue with its Tier II system, but the Tier I retirees will still be drawing benefits for the next 40 years.

In a best-case scenario, voters overturn the constitution's pension clause. Thereafter, all future benefits would be shifted to the Tier II system, or a defined contribution system. Illinois would still be liable for Tier I benefits that have already been earned, but at least the bleeding would stop.

The real issue seems to be budget debt. Deficits cannot be sustained forever, as the interest will continue to accumulate.

[BRU67]

Originally Posted by Jacobo1

I'm not sure what the break point would be. I don't know that it matters. My prediction is a democrat wins in 18, dems pass a tax hike, the money doesn't get used the way its supposed to and we start the cycle of kicking the can down the road again. I don't really see an end in sight. Just more uncertainty. This state needs real reform but it isn't happening as long as Madigan is still kicking.

Unfortunately, I think this is the most likely result, and I really hope I'm wrong. The new Democratic administration will immediately pass some sort of budget. It won't be balanced or be tied to any reforms but it will be good enough to get our bond rating above loan shark interest levels when coupled with the massive tax hike they will hit us with at the same time. To fix the damage Rauner caused, they'll claim. Future reforms will be promised after "we get ourselves out of this."

Many will hail them for saving us from Rauner and will enthusiastically pony up. Then, they'll just keep on borrowing and spending and the deficit will keep growing.

What will happen in the long-term I'm really not sure. We will probably get to find out. I doubt that something will be bankruptcy, for the reasons I discussed yesterday. Too many special interests would stand to lose. Nor will entrenched interests like public employees take any real hit.

About all I can see are increased taxes on residents and businesses. We can only hope the economy stays otherwise strong enough to offset that!

[Sunbiz1]

"Madigan has often relied on support from working- and middle-class voters, including unionized public employees who are a potent political force in the state."

"Between January and November, the governor, his wife and his campaign fund gave at least $37.5 million to candidates and groups, many of which targeted Madigan in a torrent of television attack ads, state records show."

Special Report: The man behind the fiscal fiasco in Illinois

I've often wondered how someone this corrupt remains in office, now I know.

[BRU67]

Originally Posted by Sunbiz1

"Madigan has often relied on support from working- and middle-class voters, including unionized public employees who are a potent political force in the state."

"Between January and November, the governor, his wife and his campaign fund gave at least $37.5 million to candidates and groups, many of which targeted Madigan in a torrent of television attack ads, state records show."

Special Report: The man behind the fiscal fiasco in Illinois

I've often wondered how someone this corrupt remains in office, now I know.

That would be working and middle-class voters (defined in declining standards) in a very small area around Midway Airport in Chicago - voters who are often employed by the government. He also receives millions upon millions from public employee unions, which are not working and middle-class voters. Most working and middle-class voters do not have access to those jobs, which are often awarded on a patronage basis, and are tough to get in any case.

You can say what you will about Rauner but I wouldn't characterize this as the poor workin' man v. the rich evil billionaire. Especially given that your party is going to have a billionaire running for governor itself!

[Sunbiz1]

Originally Posted by BRU67

Especially given that your party is going to have a billionaire running for governor itself!

I have no party, unless the majority opposed to M.M. qualifies. Never have I seen a small minority of garbage collectors/street sweepers on the south side do statewide damage.
Speaking of damage, I drove 150 miles of state roads yesterday. All of them are in disrepair, including the tollways the authority is making a fortune on.

[CGab]

Property tax bills in Chicago increasing as much as 10%, about 6% in Cook County suburbs!


Cook County residents' property taxes going up, especially in Chicago | abc7chicago.com

[My Kind Of Town]

Originally Posted by Sunbiz1

I have no party, unless the majority opposed to M.M. qualifies. Never have I seen a small minority of garbage collectors/street sweepers on the south side do statewide damage.
Speaking of damage, I drove 150 miles of state roads yesterday. All of them are in disrepair, including the tollways the authority is making a fortune on.

Which Tollways are in disrepair? Most of the system has been reconstructed within the past 10-12 years.

[Taco1234]

Originally Posted by My Kind Of Town

Which Tollways are in disrepair? Most of the system has been reconstructed within the past 10-12 years.

https://www.google.com/amp/abc7chica...-says/2102138/

[My Kind Of Town]

Originally Posted by Taco1234

https://www.google.com/amp/abc7chica...-says/2102138/

That has nothing to do with the Tollways. IDOT stands for Illinois Department Of Transportation. The Illinois State Toll Highway Authority is a separate agency and funded exclusively through paid tolls.