Illinois 4 billion in the hole

[Slew Foot]

Rahm will just ask his good buddy Barack for a bailout, problem solved.

 

[waggy]

I live in So. IL.. and my professor was telling me how high the property taxes are.. I just opened my mouth wide open when I heard that.. really insane.

oh yeah. I pay $3900 (i should mention that 3900 is after homestead act rebate, disability rebate think without it it would be 4500) a year for a 3 acre, 2k sq/ft house with a very small barn.

IF my house catches on fire its a waste since the nearest fire department is 20 miles away. I have to pay for my well, my septic system. The roads? pfft they suck but at least they are blacktopped!

only positive is the school system. its #2 in the county. my daughter is in 3rd grade but at a 5th grade level in reading, writing, math. her math is not as high but pretty damn good.

a buddy of mine lives in the closest town (dekalb) and pays $4200 for the same size house on a postage sizes lot. but gets everything that you would think for living in teh city.


hell my dad lives in southern IL and pays $2200 for a house 1200 sq/ft


I want to move out of IL so fucking bad.

Illinois's taxes are definitely higher than average, but they aren't dramatically so. (IL ranks #13 according to the tax foundation) The average US state and local tax burden is 9.8% according to them, and IL clocks in at 10%. 0.2% higher than average wouldn't exactly amaze me.

yeap.

but i think we rank in #1 in fees. really IL slaps fees on EVERYTHING its rather amusing actually.

hmm i read the avarage tax most pay in IL is far above 10% once you add in everything.

 

[fskimospy]

yeap.

but i think we rank in #1 in fees. really IL slaps fees on EVERYTHING its rather amusing actually.

hmm i read the avarage tax most pay in IL is far above 10% once you add in everything.

Where are you getting this information? What specifically does IL charge a fee for that other states do not?

 

[waggy]

Where are you getting this information? What specifically does IL charge a fee for that other states do not?

not sure. i didn't have to pay for stuff in other states. only have lived in Il as adult. well NY too but i was in college that don't count.

shrug read it on one of chicago's newspapers. not sure wich it was a few years ago or so.

 

[Zargon]

Where are you getting this information? What specifically does IL charge a fee for that other states do not?

100 a year for a plate for a car, which is atleast double MO and WI last time I checked

mcycle plates are 38 for a year, MO and WI are ~20 for 2 years

too add insult to injury its a 2.50 'convenince fee' for paying online for renewal. per plate

its now 25 bucks for a new drivers license recently up from 10

basic traffic tickets just went from 75 to ~110 dollars, most of the jump goes right to the state

 

[Lithium381]

Uhmm, you realize Texas had a $20 billion dollar deficit too and it's as red as they come, right? That's what happens in recessions.

Federal debt and state debt are literally nothing alike. We are so worried about not raising the debt limit because it is basically universally agreed that it would cause a global economic catastrophe. I am unaware of any credible economist that believes issuing more debt would be even more destructive than a US default. Can you provide links? Or were you just making shit up?

universally agreed? i think not. i think hitting the wall will be a wake up call(yay it rhymes!) for many. issue more debt pushes us further into the hole whereas taking a good long look at the state of the union and making tough choices is what needs to happen.

 

[piasabird]

Just tax all the rich people that make too much money in Chicago. I might actually be for going back to the Regan era tax cuts. On principal I dont really like taxing the rich. However, maybe we should just tax people a lot that live in Chicago. That is where about 1/2 the population of Illinois is. Just raise taxes in Chicago, but leave the rest of Illinois alone.

It was just a couple days ago they announced the Federal Level 1 Aid and East Saint Louis, MO got most of the federal money. That is another hell hole. They think you can throw money into a giant hell-pit, and the children will pop out with a Master's Degree, and pull down 100K jobs. More money does not make smarter children.

http://www.bnd.com/2011/07/05/1774642/metro-east-school-districts-receive.html

East St. Louis School District 189 received the highest amount with $9,076,964.

I dont like this report because you can not relate it to real funds per child because they did not bother to break it down with the number of kids in each school district.

 

[waggy]

Just tax all the rich people that make too much money in Chicago. I might actually be for going back to the Regan era tax cuts. On principal I dont really like taxing the rich. However, maybe we should just tax people a lot that live in Chicago. That is where about 1/2 the population of Illinois is. Just raise taxes in Chicago.

wish i could find the link. But it said that something like 80% of tax money is spent in chicago even though only 30% of the population lives in chicago.

but it also said that chicago pays %60 of the tax's. (all that is off a very bad very old memory!)

IL is a fucked up state. most of the population lives in "chicago area" and there are parts of the state that are very poor and messed up.

 

[piasabird]

Well I live near St Louis, MO and my house is about worth $85k according to Zilla, but in some areas around Chicago, IL a house may run about $400k. So that may be a good point to look at. Some houses in my area are probably averaging about $150k, depending on age and size. This gives you a kind of ratio about how the cost of living is so high around Chicago. So naturally people in Chicago have a warped sense of reality with most of the rest of Illinois. These are the people that fly to springfield every week to work at the state capital on the taxpayers dole.

So if the Regan era tax cuts were invoked a lot of Liberal folks that live in large metropolitan areas would be hurt the worst. Yet these are typically the people that want to raise your taxes.

 

[fskimospy]

universally agreed? i think not. i think hitting the wall will be a wake up call(yay it rhymes!) for many. issue more debt pushes us further into the hole whereas taking a good long look at the state of the union and making tough choices is what needs to happen.

I meant universally agreed by people with even a cursory understanding of economics. Can you point me to any credible economists who think default wouldn't be worse than issuing more debt? The only people I've seen making that argument are political operatives on the extreme right.

We absolutely need to make the tough choices, the primary tough choice being to resist the calls of austerity minded people for extreme spending cuts that are both foolish and counterproductive. All these plans will do is make things worse.

 

[Lithium381]

@ eskimospy

I think exteme spending cuts need to happen, but not all right away. But there needs to be a plan. Much like a person going on a diet, you can't expect to wake up the day after you start the diet and expect to be at your goal.... Cutting caloric intake and a balnanced diet and increased cardio (for the most basic plan) ...... then it's all about will-power and continuing to be vigilant in your day to day.

In regards to the federal debt
Spending needs to be cut and a system needs to be put into place to manage the money that does come in. There is no accountability on the money that's spent. As you've said many times, the democrats and rebpublicans both voted for the budget allocation, now the rebublicans need to buck up and allow the debt to be raised to accomodate that. Argument accepted. I am not a republican so i see no need to defend them.

but we need to spend within our means. don't spend first and tax later to cover it like the dems have a reputation of doing. and get rid of these silly requirements to spend every allocated dollar or you may not be eligible for it next year BS.... if you have a surplus and didn't spend it..... SAVE IT. If you are making projections for revenue and they fall short, TAKE THAT AMOUNT STRAIGHT OFF THE TOP FROM NEXT YEAR and pay it back. DON'T carry a balance. everyone keeps saying it keeps getting pushed from generation to generation. it needs to STOP.

 

[D-Man]

Hey Waggy I am in Dundee IL near Elgin you just had to mention property tax. I looked at mine $4,800 started @1,400 I have a postage stamp yard 100 yr old house 5 bedroom. I am checking now what the taxes would be for a cardboard box under a bridge. I am afraid to look at all the taxes I pay in IL. I am not far from Cook County thank God I am in Kane County.

 

[fskimospy]

@ eskimospy

I think exteme spending cuts need to happen, but not all right away. But there needs to be a plan. Much like a person going on a diet, you can't expect to wake up the day after you start the diet and expect to be at your goal.... Cutting caloric intake and a balnanced diet and increased cardio (for the most basic plan) ...... then it's all about will-power and continuing to be vigilant in your day to day.

In regards to the federal debt
Spending needs to be cut and a system needs to be put into place to manage the money that does come in. There is no accountability on the money that's spent. As you've said many times, the democrats and rebpublicans both voted for the budget allocation, now the rebublicans need to buck up and allow the debt to be raised to accomodate that. Argument accepted. I am not a republican so i see no need to defend them.

but we need to spend within our means. don't spend first and tax later to cover it like the dems have a reputation of doing. and get rid of these silly requirements to spend every allocated dollar or you may not be eligible for it next year BS.... if you have a surplus and didn't spend it..... SAVE IT. If you are making projections for revenue and they fall short, TAKE THAT AMOUNT STRAIGHT OFF THE TOP FROM NEXT YEAR and pay it back. DON'T carry a balance. everyone keeps saying it keeps getting pushed from generation to generation. it needs to STOP.

I don't really think that's feasible... and generally the US debt doesn't need to be paid back. While long term structural deficits are certainly a problem that need to be addressed, as our economy grows and inflation occurs the debt will naturally decrease in importance as time goes on.

I don't think the idea of saving surplus tax revenues is one that will ever happen. If we carry a surplus, I guarantee that conservatives will push for tax cuts to eliminate it, or other people will push for more programs. (or most likely, both).

 

[BarneyFife]

100 a year for a plate for a car, which is atleast double MO and WI last time I checked

mcycle plates are 38 for a year, MO and WI are ~20 for 2 years

too add insult to injury its a 2.50 'convenince fee' for paying online for renewal. per plate

its now 25 bucks for a new drivers license recently up from 10

basic traffic tickets just went from 75 to ~110 dollars, most of the jump goes right to the state

Well I live in Michigan and for my car, I pay $212 per year. But then I'd rather pay my share and not live in a shithole like Alabama.

 

[waggy]

Hey Waggy I am in Dundee IL near Elgin you just had to mention property tax. I looked at mine $4,800 started @1,400 I have a postage stamp yard 100 yr old house 5 bedroom. I am checking now what the taxes would be for a cardboard box under a bridge. I am afraid to look at all the taxes I pay in IL. I am not far from Cook County thank God I am in Kane County.

I'm in dekalb county. if i lived 1/4th a mile west i would be in ogle county. my taxes on my house would be roughly 1k cheaper.

the sad part is i know a few families who have moved out of IL because property tax's are so damn high.

its nuts. my monthly property tax is more then my mortgage lol

 

[Zargon]

I'm in dekalb county. if i lived 1/4th a mile west i would be in ogle county. my taxes on my house would be roughly 1k cheaper.

the sad part is i know a few families who have moved out of IL because property tax's are so damn high.

its nuts. my monthly property tax is more then my mortgage lol

WIs are OK(probably great compared to yours up there), but their income taxes are insane

 

[Darwin333]

Uhmm, you realize Texas had a $20 billion dollar deficit too and it's as red as they come, right? That's what happens in recessions.

Federal debt and state debt are literally nothing alike. We are so worried about not raising the debt limit because it is basically universally agreed that it would cause a global economic catastrophe. I am unaware of any credible economist that believes issuing more debt would be even more destructive than a US default. Can you provide links? Or were you just making shit up?

I am also not aware of any credible economist that believes that a 200ish billion dollar payment can not be paid out of 2ish trillion in revenue. Can you provide some sort of proof that 2,000,000,000,000 - 2,000,000,000 is a negative number? Or would you like to take me up on my previous offer of sending you a calculator.

As I have repeatedly said, we will continue to service our debt. It is all the other stuff that we spend money on that is at risk. It would still cause all holy hell to break loose but we will not default. Period.

P.S. Turbo Tax Timmy is already "selectively" paying (more specifically not paying) what he wishes, exactly what you said that he said he wouldn't do.

 

[Darwin333]

I don't really think that's feasible... and generally the US debt doesn't need to be paid back. While long term structural deficits are certainly a problem that need to be addressed, as our economy grows and inflation occurs the debt will naturally decrease in importance as time goes on.

5th grade math time

Please explain the law of exponents to the rest of us and why it does not apply here.

 

[Lithium381]

I don't really think that's feasible... and generally the US debt doesn't need to be paid back. While long term structural deficits are certainly a problem that need to be addressed, as our economy grows and inflation occurs the debt will naturally decrease in importance as time goes on.

I don't think the idea of saving surplus tax revenues is one that will ever happen. If we carry a surplus, I guarantee that conservatives will push for tax cuts to eliminate it, or other people will push for more programs. (or most likely, both).

and by other people you are referring to the dems?

but there is the problem...... the idea that it MUST BE SPENT

 

[nonlnear]

[/b]
and by other people you are referring to the dems?

but there is the problem...... the idea that it MUST BE SPENT

This is hardly specific to the Dems. Republicans love spending ungodly sums of money just like the Dems do. They just tell the voters not to expect it any government goodies so they can save the goodies for their friends.

 

[PeshakJang]

I did my part to help... paid 21% in city and county taxes, with additional fees, just to get Cubs tickets.

I guess sporting events are just for the bourgeois.

It's pretty funny, businesses are coming here to IN it seems as fast as they are scrambling to leave IL.

Spend spend spend!

 

[IndyColtsFan]

I did my part to help... paid 21% in city and county taxes, with additional fees, just to get Cubs tickets.

I guess sporting events are just for the bourgeois.

It's pretty funny, businesses are coming here to IN it seems as fast as they are scrambling to leave IL.

Spend spend spend!

Two new Amazon warehouses are coming to the Indy area, including one to my town outside of Indy (which will be the second Amazon facility in my town). Thanks, Ill....errr, wait a minute, I mean California!

 

[BarneyFife]

Congrats on the high quality $8 hour jobs.

 

[borosp1]

This all has to do with unfunded pensions which these politicians will never get rid off so they raise taxes and nickle and dime people to death.

What needs to happen which will never happen is pensions should be only for Fireman and police.. as those life risk jobs and should be allotted a pension for risking ones life. All the paper pushers, salesman, and bullSh!ters (politicians, school teachers, government workers) should be paying into a 401k plan and that will resolve all state debt in a couple years and more than likely will lower cost of living in Illinois.

Another 2 options which might be more viable:
1. Pensions should be capped @ 100k. It ridicules when these superintendents or liefer politicians retire @ around 50 or so and get 150K+cost of living adjustments in pension money for the rest of there lives.

2. Not allow for Govt workers to double dip (have 2 government jobs at the same time so they collect 2 pensions).

 

[Zorkorist]

This all has to do with unfunded pensions which these politicians will never get rid off so they raise taxes and nickle and dime people to death.

What needs to happen which will never happen is pensions should be only for Fireman and police.. as those life risk jobs and should be allotted a pension for risking ones life. All the paper pushers, salesman, and bullSh!ters (politicians, school teachers, government workers) should be paying into a 401k plan and that will resolve all state debt in a couple years and more than likely will lower cost of living in Illinois.

Another 2 options which might be more viable:
1. Pensions should be capped @ 100k. It ridicules when these superintendents or liefer politicians retire @ around 50 or so and get 150K+cost of living adjustments in pension money for the rest of there lives.

2. Not allow for Govt workers to double dip (have 2 government jobs at the same time so they collect 2 pensions).

In other words, stop letting Government Tax you. because it is only going to shit like this.

-John