SUBSCRIBE to Capitol Fax      Advertise Here      Mobile Version     Exclusive Subscriber Content     Updated Posts    Contact
CapitolFax.com
To subscribe to Capitol Fax, click here.
Fun with money

Monday, Apr 28, 2014

* So, the question becomes, where the heck does the governor expect to find hundreds of millions or even billions a year to fund this idea?

Gov. Pat Quinn is offering a possible new solution to Chicago’s pension crisis suggesting the state could do more to share revenue with local municipalities.

Following a City Club of Chicago luncheon today, Quinn told reporters that a discussion needs to happen over giving local municipalities a larger percentage share of the state’s revenue. That means that the percentage of state money Chicago or other muncipalities receive from the state would increase. Quinn said the plan would work through his budget proposal, which called for an extension of a income tax hike as well as a $500 property tax rebate.

“I believe in that. I think that’s a good way to help local units of government and the school districts to some extent reduce their reliance on property taxes,” Quinn said. “That has to be one of our foremost missions in Illinois. The property tax collects more money every year than the income tax and sales tax combined. I want to reduce our property taxes.”

Killing off the $700 million “property tax relief” plan would be a start, but even that may not be enough.

- Posted by Rich Miller        


35 Comments
  1. - wordslinger - Monday, Apr 28, 14 @ 2:11 pm:

    –…the state could do more to share revenue with local municipalities.–

    It could?

    Quinn can’t compete with Rauner on phony-baloney budget pipe dreams. He shouldn’t try.


  2. - Norseman - Monday, Apr 28, 14 @ 2:14 pm:

    If anyone reading this doesn’t understand why we have a fiscal problem in the State of Illinois, then get yourself a guardian. Candidates and elected officials love to offer up new ideas for programs and services to ingratiate themselves with the voters, but rarely support the funding to pay for them.


  3. - OneMan - Monday, Apr 28, 14 @ 2:18 pm:

    Looking forward to Quinn proposal to tax those running for public office who make more than 1,000,000 a year who are not named Madigan plan to pay for this…


  4. - Befuddled - Monday, Apr 28, 14 @ 2:20 pm:

    But we can’t afford to operate Murray Center.


  5. - A guy... - Monday, Apr 28, 14 @ 2:20 pm:

    Meet your Governor….plop!


  6. - Commonsense in Illinois - Monday, Apr 28, 14 @ 2:22 pm:

    I’m heading under my desk now…please let me know when the election is over…


  7. - Formerly Known As... - Monday, Apr 28, 14 @ 2:26 pm:

    The “old” math does not add up any longer. Both the media and the public are savvy to this.

    Looks like the pols are the last ones to figure this out.


  8. - OneMan - Monday, Apr 28, 14 @ 2:28 pm:

    If you cut the slices of pizza differently than before you end up with more pizza…

    Take it from a large guy, this totally works….


  9. - RNUG - Monday, Apr 28, 14 @ 2:33 pm:

    Quinn has obviously found the jar of magic beans left in the bottom desk drawer by his predecessor …


  10. - VanillaMan - Monday, Apr 28, 14 @ 2:35 pm:

    Does anyone working for Quinn have the job of just telling him to stop talking? Whoever had that job, just blew it.

    You could almost make out his train of thought - but then the train jumps track, rolls down a mountainside and then explodes into a fire ball the size of our debt.


  11. - OneMan - Monday, Apr 28, 14 @ 2:40 pm:

    Dear Governor

    It is very simple, government state and local wants to spend X, it takes in via taxes, fees and the like Y.

    Right now X is greater than Y and that is a problem, you can increase Y, you can decrease X or you can do both to try and solve the problem.

    However how much of Y goes where doesn’t solve anything…

    X > Y

    You have to fix this, and you can’t fix it without changing the value of either X or Y or both X and Y.


  12. - Formerly Known As... - Monday, Apr 28, 14 @ 2:42 pm:

    == He shouldn’t try. ==

    After so many decades of experience, Quinn can not help himself. Don’t hold it against him. It’s in his DNA by now.


  13. - Anon - Monday, Apr 28, 14 @ 2:43 pm:

    Cash strapped and I bet the Obama Library will be built


  14. - Norseman - Monday, Apr 28, 14 @ 2:45 pm:

    OneMan, don’t try to confuse the Governor with story problems. He’s struggling with his work as is.


  15. - stoney - Monday, Apr 28, 14 @ 2:57 pm:

    RUNG - Quinn may have found something in the bottom desk drawer of his predecessor but it wasn’t magic beans. Considering he must be living in a separate reality it must have been magic mushrooms.


  16. - Tom Joad - Monday, Apr 28, 14 @ 2:58 pm:

    Have schools take more money from local TIF districts. These have been pork barrel projects for 20 years. Just look at the DePaul new stadium, as a start.


  17. - Walter Mitty - Monday, Apr 28, 14 @ 3:05 pm:

    He also doubled down on the Obama library… How out of touch…


  18. - Pete - Monday, Apr 28, 14 @ 3:06 pm:

    - OneMan -

    Y becomes greater that X when the income tax remains at 5%. X will again exceed Y shortly after Nov. 4th.

    -Quinn said the plan would work through his budget proposal, which called for an *extension of a income tax hike* as well as a $500 property tax rebate.-


  19. - Anon - Monday, Apr 28, 14 @ 3:24 pm:

    Illinois Municipal League Lobby Day is Wednesday…enough said.


  20. - Formerpol - Monday, Apr 28, 14 @ 3:25 pm:

    I see a landslide building in November to sweep Quinn out of office. It will not even be close.
    That assumes that not every successful person moves out of Illinois by then.


  21. - wordslinger - Monday, Apr 28, 14 @ 3:28 pm:

    –That assumes that not every successful person moves out of Illinois by then.–

    If they’ve enjoyed success here, why would they move?


  22. - OneMan - Monday, Apr 28, 14 @ 3:33 pm:

    Pete –

    -Quinn said the plan would work through his budget proposal, which called for an *extension of a income tax hike* as well as a $500 property tax rebate.-

    So basically, he said, I am going to keep revenues about the same (keep the income tax increase) but then reduce your revenues by $700 million (the property tax break)

    So again back to the math, X isn’t going down (government spending) but government revenue Y is going to go down…

    Still the same problem….


  23. - Formerpol - Monday, Apr 28, 14 @ 3:39 pm:

    Word: They are already leaving the North Shore and Lincoln Park in droves for Florida and Texas.I have lost 20 good friends in the last year. Taxes and spending show no signs of moderating under the present ‘leadership’. They all made money despite Illinois recent incompetent government, certainly not because of it.


  24. - wordslinger - Monday, Apr 28, 14 @ 3:44 pm:

    Yeah, Lincoln Park and the North Shore are practically ghost towns. That’s why real estate is so cheap.


  25. - I B Strapped - Monday, Apr 28, 14 @ 3:49 pm:

    One Man @ 2:40- It’s a good explanation of the problem/solution but could you do it in crayon for Pat?


  26. - RonOglesby - Monday, Apr 28, 14 @ 3:50 pm:

    —-
    If you cut the slices of pizza differently than before you end up with more pizza…

    Take it from a large guy, this totally works….
    —–

    Thats why I like the square slices over the triangle slices :-)


  27. - From the 'Dale to HP - Monday, Apr 28, 14 @ 3:54 pm:

    @Formerpol, hope they realize there is practically no public transportation and the public schools aren’t nearly as good as Illinois down there. Also the summers are terrible. But good on them saving like a seven hundred bucks a year in taxes.


  28. - RonOglesby - Monday, Apr 28, 14 @ 3:57 pm:

    @From the ‘Dale to HP

    well depends… at 5% someone making 150 or so is probably saving 5-6k or more annually. The question really becomes “is that enough to move out of state?” for lots the answer is no. be acting like its $700 a year minimizes the impact. And of course most of those folks are also reading about the “Fair” tax proposals that could raise their top rate to what? 6 or 7% vs no income tax?


  29. - wordslinger - Monday, Apr 28, 14 @ 4:06 pm:

    –They are already leaving the North Shore and Lincoln Park in droves for Florida and Texas.–

    Yet median home prices in Lincoln Park are up 14% over last year and 21% on the North Shore/Barrington.

    With all those people leaving in droves, you’d think prices would be down.

    http://evanston.patch.com/groups/news-from-nsbar-on-evanston-real-estate/p/pricing-is-up-demand-increases-for-homes-on-north-shore

    http://www.zillow.com/lincoln-park-chicago-il/home-values/


  30. - From the 'Dale to HP - Monday, Apr 28, 14 @ 4:11 pm:

    @RonOglesby, without doing a perfect comparison I still highly doubt it’s $5k, it’s probably closer to $700 than $5k. You also have to factor in property taxes (guessing lower for North Shore, higher for Lincoln Park); sales tax (for sure higher); other fees (I believe higher in FLA, not sure about Texas).


  31. - wordslinger - Monday, Apr 28, 14 @ 4:14 pm:

    Formerpol, in case you don’t have time to click the link, here’s the lead from the story on North Shore real estate — one of the area’s you claim people are leaving in droves.

    –Supply and demand is no different in the housing market – and definitely not in Barrington and across the North Shore where home inventory is scarce and a buying public is actively seeking to make these two regions their home –and offering top dollar to do so, reports the North Shore-Barrington Association of REALTORS® (NSBAR) in its March housing report release–


  32. - Archimedes - Monday, Apr 28, 14 @ 4:15 pm:

    Actually, according to the 2015 budget, the Property Taxpayer Relief Fund is $1.2 billion. Maybe the $700 mil is the amount less the deduction for property tax (so the income tax receipts are higher)?


  33. - RonOglesby - Monday, Apr 28, 14 @ 5:59 pm:

    @From the ‘Dale to HP

    Already figured mine out. Texas my new home is abt the same size as my current (but on more land) and my property tax bill is about $1400 less a year than today. Sales tax 6.5 in new location vs my current of 8.5. Then my income tax rate (State) drops to 0 which is about 500+ a month for me.

    So lets not go with the closer to 700.


  34. - Sue - Monday, Apr 28, 14 @ 6:50 pm:

    Too Bad Enron is gone- Quinn have could become its CFO after January 1-Perhaps he will borrow the President’s magic wand which allowed Obama to double count the savings that ACA was to have created based on reduced spending on Medicare- If we need the income tax extended to pay for existing programs how do we suddenly find out Quinn has tons of cash to share with all of our hard pressed municipalities


  35. - dupage dan - Monday, Apr 28, 14 @ 7:21 pm:

    Governor Quinn leaves Chicago on the 9:25 am train headed for Springfield at 70mph. His brain leaves Springfield headed for Chicago in a 1978 Yugo at the same time. The question: “at what point do we realize that Quinn is asleep at the wheel?


TrackBack URI

Sorry, comments for this post are now closed.


* New Quinn ad sparks Dem criticism
* Beware October
* Question of the day
* Quinn signs millionaire's tax referendum
* Today's map
* Thanks, but I'll pass
* Roberts appointment questioned
* Poll: Rauner has 14-point lead
* Today's rant
* *** UPDATED x2 *** Quinn campaign goes up with first TV ad of the season
* SUBSCRIBERS ONLY - Today's edition of Capitol Fax (use all CAPS in password)
* Yesterday's blog posts

Support CapitolFax.com
Visit our advertisers...

...............

...............


Search This Blog...

Search the 98th General Assembly By Bill Number
(example: HB0001)

Search the 98th General Assembly By Keyword

          
        * Instagram launches new Bolt app in 3 markets outside US
        * New “Fake ID” exploit allows new types of malware on Android?
        * iPhone 6 phablet dates, more Google Nexus phablet details & more – Pocketnow Daily
        * Samsung Z postponed again, spells trouble for Tizen
        * Amazon prepping Kindle Fire HDX refresh with new SoC?
        * Microsoft to launch a selfie phone and another high-end Windows Phone soon?
        * NPR gets own Android app for easy access to shows,podcasts

        * Flickr Announces New Licensing Opportunities For Photographers
        * Researchers Want To Use iPhones To Help Fight Malaria In Indonesia
        * BlackBerry Guardian Protection Will Extend To Android Apps
        * BBM For iOS & Android Expected To Receive UI Makeover
        * Sony China Teases Lady-Friendly Cyber-shot Camera
        * Instagram’s Bolt App Is Official, Limited To Certain Markets For Now
        * Instagram’s Bolt is late to the photo-sharing app party and might ruin your selfie

        * White Sox 11, Tigers 4: Slugging Soria during seven-run seventh
        * White Sox cruise after thrashing Tigers in seventh
        * Stolen base overturned by Tigers' challenge
        * Rodon to be promoted to Class A on Wednesday
        * Avisail on track to return to action this season
        * Lindstrom wants to be White Sox closer
        * Danks subject of minor speculation ahead of Deadline


        Main Menu
        Home
        Illinois
        YouTube
        Pundit rankings
        Obama
        Subscriber Content
        Durbin
        Burris
        Blagojevich Trial
        Advertising
        Updated Posts
        Polls

        Archives
        July 2014
        June 2014
        May 2014
        April 2014
        March 2014
        February 2014
        January 2014
        December 2013
        November 2013
        October 2013
        September 2013
        August 2013
        July 2013
        June 2013
        May 2013
        April 2013
        March 2013
        February 2013
        January 2013
        December 2012
        November 2012
        October 2012
        September 2012
        August 2012
        July 2012
        June 2012
        May 2012
        April 2012
        March 2012
        February 2012
        January 2012
        December 2011
        November 2011
        October 2011
        September 2011
        August 2011
        July 2011
        June 2011
        May 2011
        April 2011
        March 2011
        February 2011
        January 2011
        December 2010
        November 2010
        October 2010
        September 2010
        August 2010
        July 2010
        June 2010
        May 2010
        April 2010
        March 2010
        February 2010
        January 2010
        December 2009
        November 2009
        October 2009
        September 2009
        August 2009
        July 2009
        June 2009
        May 2009
        April 2009
        March 2009
        February 2009
        January 2009
        December 2008
        November 2008
        October 2008
        September 2008
        August 2008
        July 2008
        June 2008
        May 2008
        April 2008
        March 2008
        February 2008
        January 2008
        December 2007
        November 2007
        October 2007
        September 2007
        August 2007
        July 2007
        June 2007
        May 2007
        April 2007
        March 2007
        February 2007
        January 2007
        December 2006
        November 2006
        October 2006
        September 2006
        August 2006
        July 2006
        June 2006
        May 2006
        April 2006
        March 2006
        February 2006
        January 2006
        December 2005
        April 2005
        March 2005
        February 2005
        January 2005
        December 2004
        November 2004
        October 2004

        Blog*Spot Archives
        November 2005
        October 2005
        September 2005
        August 2005
        July 2005
        June 2005
        May 2005

        Syndication

        RSS Feed 2.0
        Comments RSS 2.0
        WordPress

        Loading


        * Leaders want more protection for aquifer - Hera.....
        * Rauner to release tax info 3 weeks before elect.....
        * Illinois to ask voters about taxing millionaire.....
        * Plainfield park board bill still awaits Quinn’s.....
        * Illinois to ask voters about taxing millionaire.....
        * LETTERS Staying north; Quinn is in..


        * Illinois boy meets Coast Guard rescuers again
        * $1.2 million may go to family of teen shot by cop
        * Group files appeal in term limits decision
        * Chicago committee OKs naming plaza for ex-mayor
        * NCAA proposed settlement raises medical questions
        * Illinois to ask voters about taxing millionaires
        * Judge: Need more time to consider NCAA deal
        * Chicago Transit Authority reports drop in crime
        * NCAA proposed settlement raises medical questions
        * NIU, San Diego State set games in 2016, '17

        * Emails raise questions of politics in Quinn's anti-violence program
        * Quinn OKs ballot question on tax hike for incomes over $1M
        * Lawsuit against Quinn back in court in October
        * Illinois to ask voters about taxing millionaires
        * Illinois patients to docs: 'What about marijuana?'
        * Illinois State Fair manager fined by ethics commission for accepting free beer tickets
        * Sangamon County on its own for road salt
        * Sangamon County on its own for winter road salt
        * Lawyers will push to speed up pension reform ruling
        * Quinn says state EPA will block PCBs from Clinton landfill

        * Chicago committee OKs naming plaza for former Mayor Jane Byrne
        * McDonald's: Regulator says it's a 'joint employer'
        * NLRB hands McD's an unhappy meal: You employ franchise workers
        * JPMorgan cuts hundreds of tech workers
        * JPMorgan cuts tech worker jobs, including in Chicago


        * 2 charged with attempted murder in shooting of 3-year-old
        * 3 men rescued after sailboat capsizes near Monroe Harbor
        * Sanctions reject Putin’s meddling
        * Cheap shots don’t help
        * Celebs, Nobel laureates make pro-Palestinian video
        * Sanctions reject Putin’s meddling ways
        * City to pay $1.2M to family of prep sports star fatally shot by cop
        * Watchdog needs independence
        * West Side alderman rips Emanuel for missing Shamiya Adams’ funeral
        * Architectural team for Lucas museum includes woman behind Aqua Tower


        * 3 rescued from Lake Michigan after storm overturns sailboat
        * Lawsuit: Plastic surgeon illegally used woman's photos, labeled them 'cocaine nose'
        * 4 wounded in separate shootings
        * Aldermen setting cannabis dispensary regulations
        * Man charged with murder after victim dies 10 days after Palatine beating
        * Masked intruders break into Aurora home and injure three residents, police say
        * Chicago man found guilty of 3 killings in 2011 outside Chatham bakery
        * 86-year-old won't be charged in concealed carry shooting, prosecutors say
        * Water Tower park to be renamed for Jane Byrne
        * Water Tower park to be renamed for Jane Byrne


        * Authorities Investigating Downtown Bomb Threat
        * Authorities Investigating Downtown Bomb
        * Governor Approves 'Millionaire's Tax' As Advisory Referendum
        * Jane Byrne closer to getting memorial
        * Christian Co. Shooting Leaves Man Dead, Officer Wounded
        * Excavation Finds Courthouse Where Lincoln Worked
        * State Fair Officials Fined For Violating Gift Ban...For Beer Tickets
        * Inspector General Finds Old Metra Practice Could Lead To Fatigued Conductors
        * Exoneree Diaries: "You've got anger issues, Dad."
        * Clout On The Business Side of Medical Marijuana


        * Our Opinion: MacArthur Boulevard Association’s success worth replicating
        * Lawsuit against Quinn back in court in October
        * Quinn OKs ballot question on tax hike for incomes over $1M
        * Sangamon County on its own for road salt
        * Illinois State Fair manager fined by ethics commission for accepting free beer tickets
        * Me Inc. offers plenty of dividends
        * Quinn says state EPA will block PCBs from Clinton landfill
        * Regulators say Illinois doctor faked pot paperwork
        * Illinois communities scramble to find road salt
        * New law expands state Holocaust Commission


        * Millionaire tax to be on November ballot in Illinois
        * Illinois woman dies retrieving phone from fire
        * Monticello considers shrinking size of two city panels
        * Paxton committee recommends late charges for contractor's work
        * Villa Grove seeks staffing help during clerk's recovery from accident
        * Danielson, Hardy among leaders
        * Homeless drop-in center up and running in Champaign
        * Muscatine earns Blue Zones certification
        * Special needs children denied some rides at fair
        * Special needs children denied some rides


        * Man arrested in Round Lake Beach shooting
        * Western Amateur one tough test
        * Kenny Loggins gets ‘Footloose' in Elk Grove
        * Abreu hits 31st homer, White Sox pound Tigers 11-4
        * Boy, 9, reunites with Coast Guard rescuers

        * Rep. on immigration: "I think the presiden...
        * Luis Gutierrez Gives Up the Ghost - News 6...
        * Rep. Gutierrez: Obama Could Grant Amnesty ...
        * Rep. Luis Gutierrez: Executive Action Coul...
        * Dem Rep Brags He's Working With Obama To G...
        * Gutiérrez: 'I Think We Can Get 3 or 4, May...
        * Gutiérrez heads to White House to talk bor...
        * Obama flat wrong on trafficking law, says ...
        * Democrat: 'Punish' Americans who oppose am...
        * Luis Gutierrez to La Raza: Get Amnesty to ...

        * Senator Durbin & Leading Congressional Dem......
        * Senator Durbin & Leading Congressional Dem......
        * Senator Durbin & Leading Congressional Dem......
        * Senator Durbin & Leading Congressional Dem......
        * Senator Durbin & Leading Congressional Dem......

        * How Partisanship Could Save Iran Diplomacy......

        * Whats Happening With the Whitney Young Library
        * Meeting On Future Of Chicago's Dyett High School
        * Group Files Appeal In Term Limits Decision
        * Audience At Chicago Community Meeting On Future Of Dyett High School
        * NLRB Finds McDonald's Liable For Actions Of Franchisees; Fast Food Movement Applauds
        * The Battle of the Crater
        * Sunday reads.
        * Arthur Goldstein. Blaming tenure is a fool’s game.
        * Tuesday: The Return of Helen Shiller To City Government?
        * Tuesday: The Return of Helen Shiller To City Government? (Updated)


        * Pat Quinn’s Reality Check
        * Governor Quinn Signs Legislation to Give Public a Voice Regarding Millionaire Tax for Classroom Education - Law Establishes a Statewide Advisory Referendum on Nov. 4 Ballot
        * DOI Calls for Health Insurers to Bar Discrimination Based on Transgender Status or Gender Identity - Insurers Are Instructed to Remove Exclusions of Coverage Based on Gender Identity in Plans Offered Under ACA
        * Hoy Op-Ed on Immigration
        * Governor Quinn Reminds Drivers to Take Caution in Work Zones, Directs State Agencies to Redouble Efforts to Protect Public and Workers - Encourages Public to Increase Vigilance Following I-55 Tragedy




            Hosted by MCS SUBSCRIBE to Capitol Fax Advertise Here Mobile Version Contact Rich Miller