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* Center Square…
A new report from the Illinois Policy Institute shows lawmakers and Gov. J.B. Pritzker have adopted tax hikes and fee increases that total $5.24 billion since 2019.
The 24 tax hikes and fee increases include the doubling of the motor fuel tax, raising vehicle registration fees and a cigarette tax hike, among others. […]
Adam Schuster of the Illinois Policy Institute said that instead of raising taxes, the state should look at reallocating funds to programs that increase spending.
“A way to increase spending on these valuable programs is not by raising taxes,” Schuster said. “But by redistributing the money away from unproductive uses like throwing it after pension debt and using the money to fund programs that provide value to Illinois.”
Magic money.
* From the Illinois Policy Institute…
Dollar values represent long-run annual revenue raised unless noted as temporary. Certain revenue sources, such as legal sports betting, will raise less in the first year of implementation and because of COVID-19 pandemic’s effects on live events. * Trade-in car tax repealed in 2021.
Wow, they admit that the virus has an impact on business without mentioning mitigations.
posted by Rich Miller
Wednesday, Sep 1, 21 @ 4:15 pm
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Cool, thank you Governor Pritzker
Comment by SWIL_Voter Wednesday, Sep 1, 21 @ 4:17 pm
===unproductive uses like throwing it after pension debt===
I guess they took the courts at their word that you don’t have to fund the pensions, only pay them.
Comment by Jibba Wednesday, Sep 1, 21 @ 4:20 pm
= unproductive uses like throwing it after pension debt =
Why is it that the people who are always demanding pension “reform” are the same ones who won’t acknowledge that the problem is largely due to the State not paying what it owed?
Comment by JoanP Wednesday, Sep 1, 21 @ 4:24 pm
“But by redistributing the money away from unproductive uses like throwing it after pension debt”
The debt scolds are against fiscal responsibility when it doesn’t suit their partisan aims (surprise, surprise). Haven’t they been railing about pension debt for so long?
Comment by Grandson of Man Wednesday, Sep 1, 21 @ 4:24 pm
Maybe Adam has had a few too many edibles or lost his shirt betting on the Cubs, but it doesn’t quite seem right to count expansion of the tax base to newly legal products and activities.
Comment by The Opinions Bureau Wednesday, Sep 1, 21 @ 4:27 pm
Granted, several tax & fee increases are listed here. Several others are new revenue streams like cannabis, gambling expansion, etc. So, according to this logic government shouldn’t expand into new sectors of the economy as the economy itself does? That’s twisted.
Now, there’s arguments to be had not to do these things, but they lost.
Comment by Lt Guv Wednesday, Sep 1, 21 @ 4:28 pm
“State with legal requirement to spend money raises revenue. Story at 11.”
Comment by DuPage Dad Wednesday, Sep 1, 21 @ 4:32 pm
I always thought that paying down debt was productive, because it saves money in the long term. I also believe paying debts owed is a fiscally responsible and moral act.
To IPI’s point, if we’re going to ignore one part of the constitution, why don’t we stop paying the debt on bonds too, just forget about the constitution altogether when it comes to financial obligations. /s
Comment by Steve Polite Wednesday, Sep 1, 21 @ 4:34 pm
Did IPI mention where they’d cut a budget in spending?
Comment by Oswego Willy Wednesday, Sep 1, 21 @ 4:40 pm
Starve the beast gonna starve the beast
Comment by Socially DIstant watcher Wednesday, Sep 1, 21 @ 4:42 pm
==redistributing the money away from unproductive uses like throwing it after pension debt==
As per usual the Illinois Policy Institute’s answers to every problem is to cheat people out of their pensions.
And, also as per usual, the Illinois Policy Institute is against paying a bill owed by the state.
Comment by Demoralized Wednesday, Sep 1, 21 @ 4:48 pm
I don’t get it they have railed about pension debt. We finally pay squeezy and they get upset about that?
Comment by cermak_rd Wednesday, Sep 1, 21 @ 4:48 pm
“A way to increase spending on these valuable programs is not by raising taxes,” Schuster said. “But by redistributing the money away from unproductive uses like throwing it after pension debt…”
As my dad used to say - You can’t fix stupid.
Comment by Teacher Lady Wednesday, Sep 1, 21 @ 4:49 pm
OW,
I seem to remember some IPI folks joining state government for a very brief period of time. Easier to yell from the bleachers than play the game.
Comment by Steve Polite Wednesday, Sep 1, 21 @ 4:50 pm
As some have already mentioned, it’s completely inline with their propaganda mission and completely ridiculous to include “new” revenues created through the legalization of sports betting, cannabis and others.
Comment by Chicago Blue Wednesday, Sep 1, 21 @ 4:50 pm
===throwing it after pension debt===
This can only make sense if IPI would like an end to pensions and end the debt (obligation)
IPI folks had their chance to run Illinois.
Most of the higher up lasted… weeks.
Comment by Oswego Willy Wednesday, Sep 1, 21 @ 4:50 pm
- Steve Polite -
Great minds, lol
I felt a need to look at my question in a historical context, it appears so did you.
Be well.
Comment by Oswego Willy Wednesday, Sep 1, 21 @ 4:53 pm
How much revenue is the State of Illinois forgoing every year in tax breaks / credits? Sears-style and Amazonian-syle tax breaks add tens / hundreds of millions here and there, but add up to billions. Why not treat tax credits as an expense?
Comment by Ares Wednesday, Sep 1, 21 @ 5:13 pm
Also note that the higher MFT / vehicle registration fees are going to fund infrastructure, which puts people to work.
Comment by Ares Wednesday, Sep 1, 21 @ 5:16 pm
The usual drivel from the IPI.
The cap on business loss deductions for three years is not a tax increase. It just shifts the losses and hence tax revenues between tax years.
Same with decoupling from federal 100% depreciation deduction. It is increasing taxes in the year of acquisition of the depreciable item, and decreasing taxes in later years when the owner gets to depreciate the property.
A tax amnesty, by definition is not a tax increase. It is collecting taxes that are already owed.
Around a billion and a half of the total are new taxes on gaming and cannabis.
I would also note that the substantial majority of the taxes listed are to fund the capital plans.
So, when you subtract out the items I noted that are not new taxes, and subtract out the taxes on gambling and cannabis, that $5.2 billion number is reduced by about half. And when that is reduced by the taxes that go to fund capital spending, there isn’t much left, and certainly not much that is imposed on the “average taxpayer” that the IPI likes pretend to represent.
Comment by Facts Matter Wednesday, Sep 1, 21 @ 5:27 pm
Illinois Policy Institute. - LOL. Thank Democrats that IPI isn’t anywhere near making Illinois Policy. But I do appreciate the humor associated with their fiscally irresponsible broken record of Koch brothers propaganda.
Comment by PublicServant Wednesday, Sep 1, 21 @ 5:29 pm
=== But by redistributing the money away from unproductive uses like throwing it after pension debt and using the money to fund programs that provide value to Illinois.”===
That’s what we did in the 1980s and 1990s that got us into the deepest pension hole in the country. These geniuses would have us continue digging the hole deeper. How can anyone take this garbage seriously?
Comment by 47th Ward Wednesday, Sep 1, 21 @ 5:49 pm
So the IPI does not want to pay the pension bills? Color me surprised. Not.
I wonder if they realize some of the debt is owed in the form of pension obligation bonds? So I am good if those don’t get paid too.
Otherwise, same old drivel.
Comment by JS Mill Wednesday, Sep 1, 21 @ 6:19 pm
The good news is that with the newly approved Legislative Maps the Democrat Super Majority will be in a solid position to raise taxes on Retirement Income, Fresh Air, legalize prostitution to go with the weed and expanded gambling opportunities.
Full speed ahead.
Comment by What Goes Around Wednesday, Sep 1, 21 @ 6:42 pm
=Full speed ahead.=
Aww, poor little guy.
I guess no one ever taught you anything about paying your debts or that things cost money?
And stop paying pensions. Think that would have an impact on the economy when hundreds of thousands of people can’t participate in the economy? Think taxes might go up then?
Comment by JS Mill Wednesday, Sep 1, 21 @ 8:15 pm
It’s bananas that they’re complaining about new revenues for things like sports betting and cannabis.
Comment by Candy Dogood Wednesday, Sep 1, 21 @ 11:44 pm
…a bunch of stuff about how this report is nonsense. But everyone else got here before me. LOL!
Comment by I came here to say Thursday, Sep 2, 21 @ 4:13 pm