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Financial News

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Business & Lifestyle

DABROWSKI: A near-perfect way to hike property taxes in Illinois

Local officials and union leaders have employed a near-perfect method to pressure residents into accepting higher taxes year after year: Sell the idea that communities around them are more generous than their own. To do that, they consistently point to neighboring communities’ higher salaries, benefits and programs to justify additional spending, then push their own residents into accepting higher taxes to pay for that spending. And if that’s not enough to make the sale, the threat of strikes and binding arbitration only builds additional […]

todayNovember 26, 2017 24

Business & Lifestyle

More than 300 Chicago government employees receive layoff notices before Thanksgiving

CHICAGO (UPI) -- More than 300 government employees in Chicago learned they would lose their jobs just two days before Thanksgiving, due to budget cuts. Cook County commissioners voted unanimously for a $5.2 billion budget that required 321 public employees be cut, the Chicago Tribune reported. The lay-offs are expected to begin next month. County officials blamed the slimmed-down budget on the repeal of a penny per ounce soft drink tax that was repealed this year. "Laying off more than 300 of […]

todayNovember 23, 2017 7

Business & Lifestyle

BERG: Small businesses are the lifeblood of Illinois, but they’re treated like dirt

(Illinois News Network) -- Nov. 25 marks the arrival of Small Business Saturday across the nation. And Illinoisans have a lot to appreciate. For all the talk of big-box dominance, mom and pop shops are the Land of Lincoln’s economic workhorses. Businesses with fewer than 50 employees created the vast majority (75 percent) of net new jobs in Illinois last year, according to the Bureau of Economic Analysis. And during the economic recovery from 2011 to 2016, businesses with fewer than […]

todayNovember 23, 2017 12

Business & Lifestyle

McCALEB: Reasons to be thankful in tax-and-spend Illinois

(Illinois News Network) -- Many Illinoisans will be hard-pressed this week to find something to be thankful for with regard to a state government that is taxing and spending its way to insolvency. The General Assembly passed a $5 billion income tax increase well beyond the end of the scheduled legislative schedule that went into effect retroactive to July 1. And yet the spending plan that was approved alongside that tax hike still is nearly $2 billion out of balance. So […]

todayNovember 23, 2017 7

Business & Lifestyle

MARTIRE: A historical lesson on tax cuts

To stimulate the U.S. economy to “levels you haven’t seen in many years”— President Trump is proposing to cut federal income taxes, for most folks in general, but predominately for really affluent families and mega-corporations. His proposal is so skewed to the wealthy that over the next 10 years, more than half of his multi-trillion dollar tax cut will go to the wealthiest one percent. Big business does well too, gaining an estimated $4.1 trillion tax cut during the next […]

todayNovember 22, 2017 3

Business & Lifestyle

Effingham Kmart to see its last holiday shopping season

EFFINGHAM (Heartland Newsfeed) -- The Effingham Kmart on North Keller Drive is one of 45 Kmart outlets that will close in January as parent company Sears Holdings continues its wave of store closures, a Business Insider report said. The Effingham Kmart is the only Illinois outlet affected by the recent announcement, which also heralded the closure of 18 Sears stores throughout the country. The stores will all remain open throughout December for the holiday shopping period and close in January. […]

todayNovember 16, 2017 6

Business & Lifestyle

Congressional Dems propose taxpayer-funded private pension bailout

  SPRINGFIELD/WASHINGTON (Illinois News Network) -- Congressional Democrats want a Federal bailout of private sector pensions. An expert thinks that states like Illinois, with hundreds of billions of dollars in public pension debt, would try to be next in line, making the effort unfeasible. U.S. Sen. Sherrod Brown of Ohio is introducing legislation that would allow underfunded private pension systems to borrow from the Federal treasury, with no interest, in order to shore up their members’ retirement fund. The legislation, which […]

todayNovember 16, 2017 18

Business & Lifestyle

Illinois’ teacher shortage starts at college

NORMAL (Illinois News Network) -- The shortage of teachers in Illinois' high schools and elementary schools has its roots in the state's colleges and universities. The evidence of Illinois' teacher shortage is all around. A recent report said schools needed 2,000 teachers at the start of this year, and 16 percent of schools had to cancel something last year because they didn't have enough teachers. Troy Hinkel, the associate director of the Cecilia J. Lauby Teacher Education Center at Illinois State […]

todayNovember 16, 2017 24

Business News

McCaleb: Legislators break into song and dance when real fix is needed

(Illinois News Network) -- I've been called many things, but handy isn't one of them. When something around the house breaks, I usually take a look at the problem, dig through my toolbox, look some more, and then call someone to fix it. Don't get me wrong. I can change a lightbulb and even have replaced the battery in our smoke detector. But if something more complicated stops working – say, the washing machine – I don't have a chance on […]

todayNovember 15, 2017 3

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