More for the Illinois maw as solution for budget problems? Sure, it’s the Democrat way . . .

Illinois’ budget impasse is over, but financial challenges remain — even with new tax hike​​

​No. ESPECIALLY with the new tax hike.​

​High marginal tax rates can discourage work, saving, investment, and innovation, while specific tax preferences can affect the allocation of economic resources. But tax cuts can also slow long-run economic growth by increasing deficits. The long-run effects of tax policies thus depend not only on their incentive effects but also their deficit effects.

​And you did not read this in a daily newspaper or on network TV . . . ​

Gay priest and friends run wild down the street from Pope Francis

Pope Francis said to be fuming after priest arrested. [Not surprising.]

Vatican rocked: Police raid drug-fuelled gay orgy at cardinal’s apartment

Vatican police have raided a cardinal’s apartment where a drug-fuelled homosexual orgy was taking place.

Police entered an apartment at the former palace of the Congregation for the Doctrine of the Faith (or Holy Office) last month, not far from the Vatican City.

The occupant of the apartment is alleged to be a priest who serves as a secretary to cardinal Francesco Coccopalmerio, the head of the Pontifical Council for Legislative Texts and a personal adviser to the Pope.

The occupant of the apartment is alleged to be a priest who serves as a secretary to cardinal Francesco Coccopalmerio. Photo / Getty Images
The occupant of the apartment is alleged to be a priest who serves as a secretary to cardinal Francesco Coccopalmerio. Photo / Getty Images The allegations of the orgy were first published by newspaper Il Fatto Quotidiano.

According to the paper, neighbours became suspicious before complaining about irregular behaviour of those coming and going at the apartment. [!!]

When police showed up at the apartment, they reportedly found drugs and a group of men engaged in sexual activity.

The priest was then arrested and taken for questioning.

Il Fatto Quotidiano suggested that Pope Francis was infuriated by the news and may force Coccopalmerio into retirement.

The alleged orgy is symptomatic of a difficult period for the Pope. Four years into his papacy the Catholic Church appears racked by conflict and scandal.

Critics blame the Pope’s choice of personnel: cardinal George Pell, appointed to clean up the Vatican’s murky finances, has taken a leave of absence to defend himself against sex abuse charges in Australia.

Source: http://www.nzherald.co.nz/world/news/article.cfm?c_id=2&objectid=11886097

All for nought. Junk status looms for Illinois.

Moody’s clears the air: Illinois under review for possible downgrade to ‘junk’ status because of debt crisis

Though the Illinois House of Representatives appears close to overriding Gov. Bruce Rauner’s veto of a tax hike budget plan, and thereby ending Illinois’ more than two years without a full-year budget, Moody’s Investors Service has said it might still downgrade the state’s credit, largely due to Illinois’ unsustainable debt.

Moody’s Investors Service issued a statement July 5 explaining that Illinois is in a deep debt crisis, which the tax hike passed by the General Assembly won’t resolve. Moody’s is reviewing Illinois’ debt and might downgrade the state’s credit to “junk” status even if lawmakers override Gov. Bruce Rauner’s veto of the tax hike and budget proposal and they become law. That’s because the tax increase and budget proposal passed by the legislature don’t tackle the state’s core problems; they merely address the symptoms.

. . . . more more more . . .

 

Catching up with Herman Melville

Consider this from a teacher at Fairfield U., a Jesuit institution:

Taking the thesis seriously, Sealey said, means “to acknowledge that any critical investigation of race should devote some time to the problem that is whiteness.”

She should look up Moby Dick and the pursuit of the white whale seen as dangerous.

It is little wonder that Ahab’s demonic pursuit of the White Whale has become an arch metaphor for our distrust of the other, from racial purity to global terrorism.

“Pondering all this, the palsied universe lies before us like a leper,” as Melville concludes, “and like wilful travellers in Lapland, who refuse to wear coloured glasses upon their eyes, so the wretched infidel gazes himself blind at the monumental white shroud that wraps all the prospect around him. And of all these things the Albino whale was the symbol. Wonder ye then at the fiery hunt?”

I’d take a class that took a Melvillian approach. Otherwise, no.

Squeezing Illinois until the pips squeak

Our great state — as state rep Camille Lilly (D.-Oak Park and a string of other towns and neighborhoods as designated by Democrat district-makers) repeatedly referred to it in voter meetings recounted in my Illinois Blues: How the Ruling Party Talks to Voters — faces a huge income tax increase.

The plan [just passed in both houses] is defined by a massive, 32 percent income tax hike on Illinois residents, who are now witnessing the nation’s worst income growth. If signed into law, the House plan will hike the state income tax rate to 4.95 percent from 3.75 percent, and the corporate income tax rate will rise to 7 percent from 5.25 percent.

My debt here (for the “squeezing” adaptation) is to the post-WW2 Great Britain diplomat as regards reparations to be demanded of Germany, which got its revenge 20 years later.

No revenge is likely from Illinois citizens, however, tax-paying or otherwise — especially the otherwise, who will suffer most as the economy craters.

Could Trump Really Be Draining the Swamp? – WSJ

​Some good news on the smaller-government scene.​

The Senate still hasn’t voted on ObamaCare reform, U.S. workers are still waiting for tax cuts to drive economic growth and President of the United States Donald Trump is trading insults with the co-hosts of an MSNBC talk show. Yet Mr. Trump appears to be making progress in what might have seemed the most difficult task given to him by voters in 2016: reducing the power of Washington’s permanent bureaucracy.

​
State Dept. especially, but also Employment Prevention Agency (heh) and Energy.