You did see that Nebraska was second on the list right? And how is the Kansas "starve the beast plan" working out?

there is a guy on fb who is always going on and on and on about illinois and how their taxation is bullshit and how they waste money blah blah blah. this guy makes like 45 grand a year, his wife like 20, and they have 80k in auto loan debt, have a big ass carver boat, and live in a pretty nice house in a nice neighborhood. (i teach the dave ramsey bullshit at our church and they went through it for 2 weeks before they realized it was about to get pretty bad for them)

indeed, crony capitalism is a scourge- farm subsidies, ExIm bank, SBA financing, Fannie/Freddie mortgage subsidies, Student Loan guarantees just to name a few. And each of them have very good missions, but the distorting effects and the corporate boondoggles built around them are toxic.

I still love that we pay twice as much for sugar as any other country in the world. The whole fricking reason that soda makers use HFC instead of cane sugar. What a racket....

For instance they were never taught that Columbus was a slave owner.

The high Nebraska taxes are really only paid by farmers. Most residents don't see those high taxes.

For instance they were never taught that Columbus was a slave owner.

there is a guy on fb who is always going on and on and on about illinois and how their taxation is bullshit and how they waste money blah blah blah. this guy makes like 45 grand a year, his wife like 20, and they have 80k in auto loan debt, have a big ass carver boat, and live in a pretty nice house in a nice neighborhood. (i teach the dave ramsey bullshit at our church and they went through it for 2 weeks before they realized it was about to get pretty bad for them)

That's common. Rampant consumer amid a lack of financial education. And retailers are waving easy financing at every turn for major purchases like cars and furniture.

i get the retailer stuff, but how would they have gotten a nice house in a nice neighborhood?

Dman, what do you have against the Ex-Im Bank?

It's a federal program that actually turns a profit while at the same time opens many foreign markets to American business. These businesses are required to use American materials and labor. MANY of these businesses are in direct competition with state run/supported Chinese companies. Traditional financing is not an option because it's too risky. Ex-Im is often the only option for American companies to compete in emerging markets in 3rd world nations.

I'm pretty close to one situation involving rural electrification in Africa.

Couple of things-

States cannot file bankruptcy. This was an issue back in the 1930's, and because states are considered sovereign entities, federal bankruptcy law does not apply to them. I suspect it would take something similar to what is being done in Puerto Rico to provide relief, meaning an Act of Congress.

The state constitution expressly prohibits meaningful pension reform. Every attempt has been shot down by the State Supreme Court. And let's be honest, pension reform is simply code for cutting benefits guaranteed to workers.

The answer, as it always is, is to live within one's means. But no one will accept meaningful cuts. So it is on the backs of taxpayers. And yes, with a shrinking population base, it makes the job that much tougher.

Here is a list of what Illinois lawmakers can do immediately to address the state’s growing pension shortfall:

1. Ditch politician pensions. With no unions to oppose reforms, Illinois politicians should lead by example and transition their own pensions into self-managed plans such as 401(k)s.

2. Offer 401(k)s for new workers. The Illinois Supreme Court’s ruling on SB1 doesn’t affect the retirement plans offered to new government workers. Illinois lawmakers should follow the lead of states across the country – from Michigan to Oklahoma to Alaska – and adopt self-managed plans for all new state and municipal workers.

3. Offer optional 401(k)s to current employees. Government workers shouldn’t be trapped in insolvent, politician-run retirement plans over which they have no ownership.

4. Require all teachers to make contributions toward their own pensions. In Illinois, most public-school teachers don’t pay the required 9.4 percent employee contributions toward their own pensions. Instead, many school districts pay, as a benefit, some or all of the teachers’ required payments.

5. Get the state out of the business of managing local school-district pensions. School districts should be responsible for the true costs of their employees and should pay for their annual pension costs. Going forward, the annual benefits accrued each year by teachers should be paid for by local school districts and not the state.

6. Limit the growth of pensionable salaries. Government-worker pension benefits are growing at a pace that far exceeds the growth of taxpayers’ ability to fund them. With no way to structurally reform pension benefits for current government workers, the General Assembly’s only lever is to limit salary growth and other items that drive up pensionable salaries.

7. Allow municipal bankruptcy. Without the ability to reform pensions for existing workers, local governments should have more control over how they operate. That means having the option to file for bankruptcy. Bankruptcy should be the option of last resort, but it can help struggling municipalities restructure their debt, renegotiate contracts and reform pensions.

i get the retailer stuff, but how would they have gotten a nice house in a nice neighborhood?

Trae Young will be a bust. Book It!

hmm, if only there was some sort of non utilized taxable product that would add over $350 million a year to the State's pockets.

It's baffling to me why facts about both the drug as well as the potential financial boon are blithely ignored ... and I'm not actively pro-marijuana either. It's got to be based on a combo of ignorant people (purposeful or otherwise) and politicians on the take ... then again, that answers MANY other problematic issues too.

It's baffling to me why facts about both the drug as well as the potential financial boon are blithely ignored ... and I'm not actively pro-marijuana either. It's got to be based on a combo of ignorant people (purposeful or otherwise) and politicians on the take ... then again, that answers MANY other problematic issues too.

For instance they were never taught that Columbus was a slave owner.

I'm certainly not the best financial poster child, but I'm a lot better having learned the hard way.

Illinois can only change if 2 things happen....1) the state completely shuts down 2) Chicago / Madigan get removed.

Yes, stopping political pensions would work but that will never happen. the only way IL gets fixed is if it completely shuts down and someone has to step in and bail it out. That someone would then have to completely force new sensible fiscal policy. I cannot see that ever happening. Too much greed and lifers working the system.

Yes, legalization would bring in huge revenue, but the machine would piss it away.

I'm certainly not the best financial poster child, but I'm a lot better having learned the hard way.

Illinois can only change if 2 things happen....1) the state completely shuts down 2) Chicago / Madigan get removed.

Yes, stopping political pensions would work but that will never happen. the only way IL gets fixed is if it completely shuts down and someone has to step in and bail it out. That someone would then have to completely force new sensible fiscal policy. I cannot see that ever happening. Too much greed and lifers working the system.

Yes, legalization would bring in huge revenue, but the machine would piss it away.

That was my earlier point. Giving or creating more money to the monster without fixing it first is giving 10 grand to a coke addict with a gambling problem.

Can't wait to move out of Illinois. 3 more years and I'm out of this joint.