Author’s Update: The Illinois Lottery disagrees with the characterization that a promise to pay in the future is an IOU, reaching out to say, “At no time has the Illinois Lottery issued an ‘IOU’ to winners, nor does it plan to do so.” The Lottery has released the following statement: “Due to the ongoing budget situation…
One couple, two pleas. In a day that had many on the Hill glued to their seats, former U.S. Rep. Jesse Jackson Jr. and his wife, former Chicago Alderman Sandra Stevens Jackson, both pleaded guilty to federal charges related to campaign fund abuse. At the start of the day, Jackson Jr. told U.S. District Robert…
We go through shoes in my house like paper towels. My kids love the outdoors and all of three of them play sports of some description (rugby, soccer, and field hockey are our current favorites). They beat up shoes. And, of course, I run, so I plow through running shoes on a fairly regular basis….
Light up, California! You have no worries. It turns out that, with just a few days left to count and certify ballots, proponents of Proposition 29 are officially conceding that the measure will not pass. The measure, which landed on ballots this month, would have increased the state tax on tobacco in the Golden State…
Living in the Prairie State just got a whole lot more expensive. Facing a gaping hole in the budget, Illinois lawmakers have scrambled to find a way to pay the bills. Their solution? A significant tax hike. The Senate and the House have approved tax increases across the board for the states. Personal income tax…
In one of the more bizarre statements this post-election season, Gov. Pat Quinn (D) of Illinois has advised the legislature that an alternative plan to raise revenue won’t work and instead, he wants to focus on raising the state’s income tax. Days after squeaking by in the gubernatorial race, Quinn told the Chicago Sun-Times that…
Our next installment of Tax Talk 2010 features Randy Hultgren, the Republican candidate for Congress in the 14th Congressional District of Illinois. I emailed Mr. Hultgren a set of six questions related to tax. Follows are his unedited answers: 1. What’s the single most important tax issue facing Americans today? The high rate of taxation…
With budget deadlines looming, many states felt that there were no alternatives to balancing the budget other than raising taxes or adding new ones. More than half of all states were considering significant tax changes to fill gaping holes… What a difference a few weeks and some angry taxpayers make. New Jersey recently “found” more…
With revenues plummeting and federal aid in short supply, many states are scrambling to fill holes in their budgets. The easiest way to do it? Raise taxes. At least ten states are considering major increases in the near future. They are: Arizona Connecticut Delaware Illinois Massachusetts Minnesota New Jersey Oregon Washington Wisconsin Two states have…
Illinois residents have been willing to deal with some pretty steep tax increases. But Gov. Pat Quinn may have gone too far this time: Quinn wants to tax coffee and sweetened tea products in grocery stores in the same manner as soft drinks. Gov Quinn has also suggested raising taxes and fees on driver’s licenses…