Explore our content

All types | All dates | All authors
Google
Quick Hit
by Ellyn Fortino
5:53pm
Wed Apr 29

The High Cost Of Offshore Tax Havens On Small Illinois Businesses

If Illinois small business owners were to collectively offset state and federal revenues lost annually due to corporations using offshore tax havens, they would each have to pay $4,570 in additional taxes a year.

That what-if scenario is laid out in a recent report from the Illinois Public Interest Research Group (PIRG) examining the issue of "corporate tax haven abuse" and what it means for small businesses.

Through the use of accounting "gimmicks" to shift profits offshore, corporations avoid paying $110 billion annually in federal and state income taxes combined, according to Illinois PIRG's "Picking up the Tab" report. Specifically, about $90 billion in federal and $20 billion in state corporate income tax revenue is lost each year to tax havens, the research reveals.

Quick Hit
by Robert William Kingett
10:24pm
Thu Oct 30, 2014

Op-Ed: Google Car Could Give The Blind More Independence While Saving Illinois Millions

If I want to go anywhere in Chicago, my methods of transportation are very limited. For someone who's blind and has cerebral palsy, taking public transit is beyond difficult.

In order for me to go to the movies, on a date with a gorgeous guy, to interview someone for a journalistic endeavor, or to go to school, I have to pay $6 a day, $180 a month, or $2,190 a year to ride Chicago's Paratransit system. That isn't even a fraction of the costs for PACE to operate the Paratransit system. But why do I care? I'm just a consumer, right?

I'm not just a consumer, I'm a blind journalist in Chicago who's advocating for getting a law passed that would allow autonomous cars to drive on the streets of Illinois, breaking my dependence down to zero, and also saving the state billions of dollars on Paratransit cars. There's a solution to all of my independent transportation problems bundled with a nifty solution for state costs. That solution is what's commonly referred to as the Google car.

Quick Hit
by Ellyn Fortino
4:29pm
Tue Feb 18, 2014

Obama's Former Energy Chief Talks Cap & Trade, Disappointing Energy Efficiency Standards

Steven Chu, former secretary of the U.S. Department of Energy, said the 2009 landmark climate and energy bill that would have set up a cap-and-trade system got too complicated, which contributed to its downfall in Congress.

The mammoth bill was designed to address climate change and limit carbon emissions by placing a cap on greenhouse emissions, among other provisions. Essentially, companies that emit greenhouse gases would have had to comply with emission limits or be required to buy or trade credits to continue polluting. The measure, the American Clean Energy and Security Act of 2009, narrowly passed the House in June 2009 but it died in the Senate.

"The House bill got way too complicated," Chu said at a discussion Thursday night at the University of Chicago. "They let all the special interest(s) …make an 800 page bill to make little advantages here and there, and that just was wrong."