Category Archives: Economy

Illinois Policy

I got this email today.  I get so sick of this place sometimes, for all the corruption and having to pay for the privilege of living in such a corrupted place.  And no, you can’t “just move!”

I’ve known people who think property tax issues don’t apply to renters, and I wanted to address that. 

Whoever owns the property has to pay the property tax, so if you are renting, your landlord has to pay those taxes, and he will just raise your rent to defray those costs and still keep his profit margin.  So property tax issues most certainly do apply to renters, as well. 

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You’ve heard the old saying “Home is where the heart is.”
For many middle-class families in Illinois, however, home is where the hurt is. That’s because Illinois now has the highest property taxes in the nation.
Our median property-tax rate is more than twice the national median rate. We’ve reached a point where some Illinois homeowners pay more in property taxes than they do on their mortgages.
All of this begs the question: Why are property taxes so high?
Because Illinois has more taxing bodies than any other state in the country.
In fact, Illinois has nearly 7,000 of them – that’s 1,800 more than the next-highest state, Texas. Many of these units of local government are overlapping and duplicative. They contribute to Illinois’ growing debt, waste and corruption.
It’s time for this to change.
That’s why we’re leading the charge to consolidate these duplicative layers of government and give homeowners the property-tax relief they deserve.
Will you join us today?

Your gift of $15, $35 or $50 to the Illinois Policy Institute will help Illinois homeowners take back control of our property taxes.
We can’t do it without you.


Kristina Rasmussen
President and Chief Operating Officer

Illinois Policy · 190 S. LaSalle St. · Suite 1500 · Chicago, IL 60603 · USA

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The Rate of Things

My husband and I were talking the other day about the unemployment rate.  Many people at his company got laid off, and I was telling him what I was seeing in the news about the DJIA and unemployment rates, that sort of stuff.  I thought I’d put together a list of some links to the kind of stuff I see in the news.

While this first article is from 2014, the numbers haven’t changed all that much. 

Wall Street adviser: Actual unemployment is 37.2%, ‘misery index’ worst in 40 years

Don’t believe the happy talk coming out of the White House, Federal Reserve and Treasury Department when it comes to the real unemployment rate and the true “Misery Index.” Because, according to an influential Wall Street advisor, the figures are a fraud.

In a memo to clients provided to Secrets, David John Marotta calculates the actual unemployment rate of those not working at a sky-high 37.2 percent, not the 6.7 percent advertised by the Fed, and the Misery Index at over 14, not the 8 claimed by the government.

Marotta, who recently advised those worried about an imploding economy to get a gun, said that the government isn’t being honest in how it calculates those out of the workforce or inflation, the two numbers used to get the Misery Index figure.

“The unemployment rate only describes people who are currently working or looking for work,” he said. That leaves out a ton more. 

Wall Street adviser: Actual unemployment is 37.2%, ‘misery index’ worst in 40 years | Washington Examiner

Here you can see how the unemployment rate spiked after the 2008 election: Bureau of Labor Statistics Data

Here you can see how the Labor Force Participation Rate has steadily declined since the 2008 election: Bureau of Labor Statistics Data

Here is an article demonstrating how the disability rate goes up when unemployment rates go down: Unfit for Work The startling rise of disability in America

And another article about that: The Number Of US Citizens On Disability Is Now Larger Than The Population Of Greece | Zero Hedge

Here is an article about the increases in food stamps: Food Stamp Beneficiaries Exceed 46,000,000 for 38 Straight Months

The number of people on some kind of support keeps growing, while the number of people providing that support keeps lowering.  This is not sustainable.  The government cannot continue to provide, when the providers are out of work.  Nor should the government be providing these kinds of things for people.  That is the responsibility of families, churches, communities, and organizations designed for such things.  The government’s declared Constitutional role is to provide for the national defense, not food stamps.

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Non-negotiable

President Obama will neither sign government funding bills that slash domestic spending nor negotiate to reduce the federal debt limit.

The president was not going to accept a budget in which domestic spending is further cut to soften the blow to Defense spending.

White House doubles down on vow Obama won’t agree to more spending cuts | Fox News

 

We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America.

 
Before he enter on the Execution of his Office, he shall take the following Oath or Affirmation:–“I do solemnly swear (or affirm) that I will faithfully execute the Office of President of the United States, and will to the best of my Ability, preserve, protect and defend the Constitution of the United States.”
So, Obama isn’t willing to cut spending, (but somehow will blame Republicans for his refusal) he’s unwilling to soften Defense cuts, and I’m wondering if he’s even read the Constitution he’s sworn to uphold. 
 
I think not. 
 

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Insanity

 

In 2012, Washington collected $20,000 in taxes for every household in America. But Washington spent nearly $30,000 per household.  Tax Day: Where Did Your Tax Dollar Go?

Taxday_600

I look at this and wonder who in their right mind thinks this is okay?  Who can overspend their budget by 30% and think there won’t be consequences? 

Not only is the spending insane, but the things our money is being spent on are wrong, as well.  The federal government is not supposed to be paying for all these things, except for national defense.  Social spending is not the federal government’s responsibility. 

If we don’t do something about this soon, and I mean soon like yesterday, we’re going to make Greece look like child’s play.

~Ness 

Political Funnies

So, what do you do when you love to laugh, but you’re sort of into politics?  You collect political cartoons!  Here’s a link to some I’ve collected on the economy.  Hope you enjoy the chuckles!

Political Cartoons on the Economy

~Ness

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