Category Archives: Illinois

Squeezy and Illinois

Posted on November 19, 2012 by Russ

Sometimes you can’t make this stuff up. The video (below) is a real video from Governor Quinn of Illinois: Governor Quinn gives an excellent history of pensions but I notice there’s something missing from the video: solutions. Perhaps it’s because … Continue reading →

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Bad States for Gamblers

Posted on October 22, 2012 by Russ

It’s been a while since I’ve listed out the bad states for gamblers. Here’s an updated list. Make sure you read the notes because while all of these states have tax systems that are problematic for gamblers, some impact amateurs … Continue reading →

Posted in Connecticut, Gambling, Hawaii, Illinois, Indiana, Massachusetts, Michigan, Minnesota, Mississippi, New York, Ohio, Washington State, West Virginia, Wisconsin | 1 Comment

Illinois Debt Downgraded

Posted on August 30, 2012 by Russ

S&P cut the rating of Illinois debt by one level yesterday. From the news story: “The downgrade reflects the state’s weak pension funding levels and lack of action on reform measures intended to improve funding levels and diminish cost pressures … Continue reading →

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Illinois Casino Expansion Bill Vetoed

Posted on August 28, 2012 by Russ

Governor Pat Quinn (D) vetoed a casino expansion bill that would have added five casinos, including one in Chicago. His veto message stated that the biggest problem with the bill, “[I]s the absence of strict ethical standards and comprehensive regulatory … Continue reading →

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Illinois Adopts Strip Club Tax

Posted on August 19, 2012 by Russ

Back in May I posted about Illinois’ proposed strip club tax. We can now remove ‘proposed’ as the tax was signed into law; the tax goes into effect on January 1st. The tax of $3 per patron will go to … Continue reading →

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What Raising Taxes Accomplishes

Posted on August 12, 2012 by Russ

I grew up just outside of Chicago in Lincolnwood, Illinois. Last year the Land of Lincoln passed a huge tax increase. Personal income taxes increased by 66% (from a 3% rate to 5%); the corporate tax rate was also dramatically … Continue reading →

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I’m Shocked! A Strip Club Owner Is “Appalled” by Proposed Strip Club Tax

Posted on May 20, 2012 by Russ

Illinois is debating a tax on strip clubs. I’m shocked, just shocked to find that Al Zuccarini, owner of Big Al’s in Peoria (an adult entertainment facility–a strip club) opposes a proposed tax on strip clubs. First, we honor Mr. … Continue reading →

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A Poll Tax–No, That’s a Pole Tax in Illinois?

Posted on February 16, 2012 by Russ

Leave it to the Land of Lincoln for an inventive way to raise money. Illiniois State Senator Toi Hutchinson (D-Olympia Fields) is sponsoring a $5 per person pole tax. The tax would impact strip clubs. The strip clubs are not … Continue reading →

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Illinois: Proving Laffer Correct

Posted on January 22, 2012 by Russ

Arthur Laffer popularized the Laffer curve. The father of Supply Side Economics noted that in many cases, increasing the tax rate decreases the amount of tax revenues. It appears that Illinois is proving Dr. Laffer correct. Moody’s just downgraded Illinois’ … Continue reading →

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Illinois Mayor Sentenced for Not Filing Tax Returns

Posted on January 18, 2012 by Russ

Joseph Cook has been the mayor of Channahon, Illinois since 2003 (Channahon is southwest of Chicago). Given Illinois politics, he has likely helped his reelection campaign by admitting he committed a crime. He was sentenced yesterday to two years probation … Continue reading →

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