My Blog

Tag: Cigarette Taxes

  • Cook County’s New Business Killers, a/k/a Taxes

    Cook County Board President Toni Preckwinkle’s proposed budget calls for a 1.25 percent tax on businesses that buy “non-titled” items like office supplies, equipment, building materials and even artwork from outside the county’s borders.  … County businesses would be allowed to purchase these goods up to $2,500 without any penalty, county officials said. The businesses…

  • Rahm: Higher Cigarette & Amusement Taxes

    Mayor Rahm Emanuel is considering an increase in city taxes on cigarettes and entertainment to help close an anticipated $369 million gap in next year’s budget, City Hall sources said Wednesday.  … It’s unclear how much the cigarette tax might be raised. A city tobacco tax increase would come on the heels of a $1-a-pack…

  • One Word for CPS Teachers: Save

    Save. Save as much money as you can. Live well below your means. The pension time-bomb is coming. One of the most vexing problems for Chicago and its teachers went virtually unmentioned during the strike: The pension fund is about to hit a wall. The Chicago Teachers’ Pension Fund has about $10 billion in assets,…

  • Gotta Love American Ingenuity (& Tax Avoidance)

    So I’m reading two stories (here and here) about a new law that will effectively outlaw Roll-Your-Own tobacco stores.  It’s something I kinda follow because I always thought it was a decent business model (until the government outlaws your business) and another fine example of what steps people will go through to avoid taxes. In…