state government

State Of Illinois’ Unpaid Bills Could Spike To $15 Billion By July

Bad news about the State of Illinois’ finances keeps rolling in. Monique Garcia reported on the website of the Chicago Tribune this morning:

The state has a record stack of unpaid bills that’s expected to hit $15 billion by July if nothing is done, and it must fork over interest when it’s late paying them. Putting a hard dollar figure on those interest costs is difficult, however…

The potential price tag is high enough that Senate leaders from both parties are pushing a plan to borrow billions of dollars to help whittle down the bill backlog and limit interest payments…

Under the plan being pushed by Democratic and Republican leaders in the Senate, Illinois would borrow $7 billion over seven years to pay down the bill backlog and bring the payment cycle closer to 30 days…

(Editor’s note: Bold added for emphasis)

The Tribune article comes after Governor Bruce Rauner pointed out in his State of the State address last Wednesday:

We haven’t had a full year budget of some kind in a year-and-a-half- and we haven’t had a state budget that is truly balanced in decades. We have more than $11 billion in unpaid bills, a $130 billion unfunded pension liability, and the worst credit rating in the nation. We have the 5th highest overall tax burden and one of the lowest rates of job creation of any state

(Editor’s note: Bold added for emphasis)

Garcia’s piece took a close look at the interest payments associated with the bill backlog debacle, which you can read about here on the Tribune site.

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

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Monday, January 30th, 2017 Borrowing, Business, Credit, Debt Crisis, Fiscal Policy, Government, Political Parties, Spending, Taxes Comments Off on State Of Illinois’ Unpaid Bills Could Spike To $15 Billion By July

Amended Illinois Tax Hike Plan To Hit Taxpayers, Businesses, And Employment?

Back on January 16 I published a post on Survival And Prosperity entitled “Illinois ‘Grand Bargain’ Legislation Includes 32 Percent Personal Income Tax Hike.” I started the piece with:

Illinois taxpayers may get hit with a significant income tax hike pretty soon…

Yesterday morning, I learned the potential “hit” could be a “combination of punches” directred at taxpayers, businesses, and employment.

From the Greg Hinz On Politics blog on the website of Crain’s Chicago Business:

There’s still no word on when lawmakers are going to vote on it, but an amended tax-hike plan has been introduced in the state capital.

It’s a doozy, with an even higher income tax, a limited service tax and a sort of minimum tax on business. But the soda pop levy is gone, as are a couple of those corporate loophole closings that business groups didn’t like…

The highlights:

The Individual income tax would go to 4.99 percent from the current 3.75 percent, and the corporate income tax to 7 percent from 5.25 percent. Combined, that would pull in about an additional $5 billion a year.

A new “business opportunity tax” ranging from a fee of $225 to $15,000 a year would be imposed, based on payroll. The intent is to make sure that all companies pay something, whether they are profitable or not. The state’s net on this is an estimated $750 million a year.

However, the research and development tax credit would be made permanent and the manufacturers purchase and graphics arts credits would be combined, as some businesses wanted.

A service tax—extension of the sales tax—would be imposed on certain items including repair and maintenance of personal property, use of amusement services including gyms, landscaping, laundry and dry-cleaning, and storage of personal goods such as cars and property. This would pull in a projected $400 million a year.

The telecom excise tax would be extended to cable and satellite services.

Both Radogno and Cullerton are said to have negotiated and support the above, pending action on the rest of the package…

Hinz does a good job summarizing the proposed expanded revenue grab. At this point, I want to go back to that bit about a new “business opportunity tax.” From the actual legislation for the so-called “Business Opportunity Tax Act”:

Section 1-10. Tax imposed.
(a) Beginning on July 1, 2017, a tax is hereby imposed upon each qualified business for the privilege of doing business in the State.
(b) The tax under subsection (a) shall be imposed in the following amounts:
(1) if the taxpayer’s total Illinois payroll for the taxable year is less than $100,000, then then annual tax is $225;
(2) if the taxpayer’s total Illinois payroll for the taxable year is $100,000 or more but less than $250,000, then the annual tax is $750;
(3) if the taxpayer’s total Illinois payroll for the taxable year is $250,000 or more but less than $500,000, then the annual tax is $3,750;
(4) if the taxpayer’s total Illinois payroll for the taxable year is $500,000 or more but less than $1,500,000, then the annual tax is $7,500; and
(5) if the taxpayer’s total Illinois payroll for the taxable year is $1,500,000 or more, then the annual tax is $15,000…

I can see a number of existing and prospective Illinois business owners having concerns with the proposed “Business Opportunity Tax Act.”

First, Illinois already has poor business reputation. For example, early last year Chief Executive magazine asked 513 CEOs to rank states they are familiar with on the friendliness of their tax and regulatory regime, workforce quality, and living environment. The “Land of Lincoln” came in as the 48th worst state in this annual survey, beaten only by New York and California in that order. The “Business Opportunity Tax Act” has the real potential of increasing the perception that Illinois is business-unfriendly.

Second, if my understanding of the legislation is correct, the larger the payroll an Illinois business has, the more taxes they will pay. Consider the following. If I’m an Illinois business owner with a payroll just shy of $250K who would like to bring on more staff, I may be dissuaded from doing so to avoid forking over an additional $3,000 to the state (unless I’m convinced the hiring would offset the $3K hit). And how might employee raises be impacted once payrolls start approaching a higher tax bracket? The proposed “Business Opportunity Tax Act” may not be too terrific for Illinois employment.

Third, readers of this blog may know that I am in the process of rolling out a research business focusing on specialized asset protection. It’s been my intention to launch in the Chicago area. Lately, however, I’ve been thninking of opening up shop in southeast Wisconsin (where my family has a residence) due to the direction Illinois looks to be heading with taxes and its treatment of the business community. The passage of the “Business Opportunity Tax Act” could be the straw that breaks the camel’s back. I wonder how many other prospective Illinois business owners might be in the same boat?

Stay tuned…

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

Source:

Hinz, Greg. “New, wider tax plan rolls out in Springfield.” Greg Hinz On Politics. 24 Jan. 2017. (http://www.chicagobusiness.com/article/20170124/BLOGS02/170129931/springfield-lawmakers-roll-out-new-wider-tax-hike-plan). 26 Jan. 2017.

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Thursday, January 26th, 2017 Business, Employment, Fiscal Policy, Government, Political Parties, Taxes Comments Off on Amended Illinois Tax Hike Plan To Hit Taxpayers, Businesses, And Employment?

More Wisconsin Welfare Reform Coming?

Wisconsin Governor Scott Walker is pushing for additional welfare reform in the state. Reid Wilson reported Monday afternoon on The Hill website:

Twenty years after a Republican governor of Wisconsin spearheaded an ambitious welfare reform package, the current governor is trying to build momentum for a new round of reforms.

Wisconsin Gov. Scott Walker (R) on Monday said he would ask the state’s Republican-led legislature to undertake one of the most aggressive welfare reform packages since a wave of new measures passed in the mid-1990s.

Walker’s plan, “Wisconsin Works for Everyone,” would impose new work requirements on both able-bodied adults with school-age children who receive state food assistance and those who receive housing assistance. Both work plans, which would be tested on a pilot basis, would require recipients to be employed for at least 80 hours per month, or to be enrolled in job training programs. Those who do not meet work requirements would see part of their benefits cut…

(Editor’s note: Bold added for emphasis)

Food stamp work requirements for abled-bodied adults without dependents have existed in Wisconsin since April 2015.

As for it’s neighbor to the south, critics contend the food stamp program in Illinois is ripe for abuse. A work requirement does not exist for even abled-bodied adults without dependents. According to the Illinois Department of Human Services:

“We expect people who can work to try and do so.”

Hmm.

Head on over to The Hill website here to read the entire piece.

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

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Tuesday, January 24th, 2017 Employment, Government, Housing, Political Parties Comments Off on More Wisconsin Welfare Reform Coming?

16,700 Illinois Jobs Gone In December

Illinois lost 4,500 jobs in November, followed by a whopping 16,700 jobs last month. From an Illinois Department of Employment Security news release Friday:

The Illinois Department of Employment Security (IDES) announced today that the unemployment rate in December inched up +0.1 percentage points to 5.7 percent and nonfarm payrolls decreased by -16,700 jobs over the month, based on preliminary data released by the U.S. Bureau of Labor Statistics (BLS) and IDES. November job growth was revised down to show a decrease of -4,500 jobs rather than the preliminary figure of +1,700 jobs. The downward revision, coupled with the drop in December payrolls kept job growth well below the national average, with Illinois -52,500 jobs short of its peak employment level reached in September 2000.

“Nonfarm payrolls reflect the job market and this kind of drop is troubling, to say the least,” said IDES Director Jeff Mays. “It’s the largest monthly decline we’ve seen this year and the drop was across most sectors.”

“Another month of climbing unemployment numbers that are far from the national average,” said Illinois Department of Commerce & Economic Opportunity Acting Director Sean McCarthy. “Illinois needs structural reforms and a balanced budget to attract new jobs and investment in our state. We cannot repair the damage of losing 11,000 manufacturing jobs, 9,700 construction jobs and 5,800 information and financial activities jobs over the course of just one year without real changes that create growth and opportunity in our economy.”

(Editor’s note: Bold added for emphasis)

To be fair, IDES added:

Over the year, nonfarm payroll employment increased by +28,400 jobs with the largest gains in two industry sectors: Professional and Business Services (+31,600); and Leisure and Hospitality (+11,900)…

Hmm. “Professional and Business Services,” which includes temporary staffing (booming after the bust). And “Leisure and Hospitality,” one of the lowest-wage sectors of the economy. Get where I’m going with this?

January’s job report should be interesting.

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

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Monday, January 23rd, 2017 Business, Employment, Government, Manufacturing Comments Off on 16,700 Illinois Jobs Gone In December

Illinois ‘Grand Bargain’ Legislation Includes 32 Percent Personal Income Tax Hike

Illinois taxpayers may get hit with a significant income tax hike pretty soon. John O’Connor of the Associated Press reported Sunday on The State Journal-Register website:

If last week’s action is any indication, the Democratic and Republican leaders of the Illinois Senate are serious about attempting to bust the state’s 18-month budget deadlock – quickly…

Promising to act on a package by month’s end, they introduced 13 measures Wednesday that included non-budget-related sweeteners for both sides. By Thursday, they had been rapidly assigned public committee hearings…

Here’s a look at other major pieces of the legislation some in the Capitol have nicknamed the “grand bargain”:

* Income tax increase: The personal income tax would jump from 3.75 percent to 4.95 percent, a plan to generate $4.1 billion a year. With spending cuts, Democrats argue, that could eliminate what the governor’s office estimates will be a $5.3 billion deficit on the June 30 end of the fiscal year…

(Editor’s note: Bold added for emphasis)

The proposed 32 percent income tax hike is not a sure thing, as O’Connor noted:

The outstanding question is if a Senate-approved deal would ultimately pass muster with Democratic House Speaker Michael Madigan, who has refused to entertain Rauner’s pro-business agenda as part of budget talks…

Six years ago, the 3 percent personal income tax rate jumped to 5 percent until 2015, when the rate rolled back to the current 3.75 percent.

Like I just suggested to Chicago taxpayers in the previous post, Illinois taxpayers might want to take heed of what’s potentially coming down the pipeline.

Other pieces of legislation include $7 billion more borrowing to pay off overdue bills (now at $10.7 billion), which you can read about on the The State Journal-Register site here.

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

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Monday, January 16th, 2017 Borrowing, Debt Crisis, Fiscal Policy, Government, Income, Political Parties, Taxes Comments Off on Illinois ‘Grand Bargain’ Legislation Includes 32 Percent Personal Income Tax Hike

Moody’s On Chicago Public Schools Crisis: Consider Tax Levy, Pension Contribution Stoppage, Or Bankruptcy

“Chicago and New York rank at the bottom of a new analysis of fiscal strength based primarily on data from 2015 financial reports issued by the cities themselves. The analysis includes 116 U.S. cities with populations greater than 200,000.

Chicago’s position at the bottom of the ranking is no surprise to anyone who follows municipal finance. The Windy City has become a poster child for financial mismanagement, having suffered a series of ratings downgrades in recent years. Aside from having thin reserves and large volumes of outstanding debt, Chicago is notorious for its underfunded pension plans…”

The Fiscal Times, January 9, 2107

Moody’s Investors Service recently weighed in on Chicago’s well-publicized financial crisis. Last Thursday its Global Credit Research division published the following on the Moody’s website:

While unfunded pension liabilities will continue weighing on the City of Chicago’s (Ba1 negative) credit profile, plans to significantly increase contributions with higher taxes is a favorable departure from prior funding practices. However, the liquidity crisis at Chicago Public Schools (CPS — B3 negative) is worsening amid a continued budget impasse at the state level, Moody’s Investors Service says in two new research reports released today…

In “City of Chicago: Frequently Asked Questions,” Moody’s says despite the city’s expanding economy, revenue growth, and healthy liquidity, its pension burden is likely to remain among the highest of any rated, major local government for many years.

“While Chicago’s recent tax increases will provide revenue to significantly increase pension funding, the city’s unfunded pension liabilities exceed seven times its revenue and are projected to grow for at least 15 more years,” says Matt Butler, Vice President of Moody’s…

(Editor’s note: Bold added for emphasis)

The well-known credit rating agency added this about the city’s public school system:

In a separate report, “Chicago Public Schools: Frequently Asked Questions,” Moody’s states CPS’ fiscal pressures are intensifying due to depletion of reserves following years of imbalanced operations, unrealistic budget assumptions, and escalating pension costs…

Moody’s says CPS could consider more difficult options to address its finances should the State of Illinois (Baa2 negative) be unable or unwilling to provide additional relief: levy for debt service on GO alternate revenue bonds, stop making employer pension contributions, or seek state authorization to file for Chapter 9 bankruptcy…

(Editor’s note: Bold added for emphasis)

MarketWatch news editor Rachel Koning Beals expanded on Moody’s suggestions for dealing with the CPS situation. She wrote Saturday:

Moody’s has a revised shortlist of painful fixes for the public school system in Chicago.

One idea is to approve another increasingly politically unpopular property-tax levy to pay off debt, as the nation’s third-largest school district just issued another batch of high-interest bonds.

The second idea from the credit-ratings agency is to skip a pension payment to the Chicago Teachers’ Pension Fund, which would come just months after the district and its teacher‘s union hammered out an 11th-hour contract to avoid a second labor strike in a span of four years.

And last resort? Just declare bankruptcy already

(Editor’s note: Bold added for emphasis)

Who’s the say the City will act on any of these suggestions (at least, right away)? That being said, Chicago taxpayers and CPS employees/retirees might want to take heed of all this.

Head on over to the Moody’s Investors Service website here to read the entire release from the Global Credit Research division. It ain’t pretty.

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

Source:

Koning Beals, Rachel. “Maybe Chicago schools should declare bankruptcy and get it over with, says Moody’s.” MarketWatch. 14 Jan. 2017. (http://www.marketwatch.com/story/maybe-chicago-schools-should-declare-bankruptcy-and-get-it-over-with-says-moodys-2017-01-13). 16 Jan. 2017.

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Monday, January 16th, 2017 Bankruptcy, Bonds, Debt Crisis, Education, Entitlements, Fiscal Policy, Government, Taxes Comments Off on Moody’s On Chicago Public Schools Crisis: Consider Tax Levy, Pension Contribution Stoppage, Or Bankruptcy

‘Black Lawmakers From Chicago’ Key To Reducing City’s Gun Violence?

Before the weekend, I blogged about Chicago Police Superintendent Eddie Johnson’s recent appearance on WGN-TV (Chicago Channel 9) where he discussed the city’s gun violence. Johnson brought up much-publicized (and delayed) legislation targeting repeat gun offenders, telling viewers:

So with this particular piece of legislation, we’re not changing the sentencing years. What we’re doing is giving our judicial partners the wherewithal to be able to sentence them somewhere between the mid-range to high-end of the sentencing guideline, which will be I think the high-end is maybe 14 years. Mid-range will be about 6 years…

He added:

So we, I’m optimistic that we’ll have it done at the beginning of the year. But in terms of what’s taking so long? I guess they just want to get the language of it right. Because it’s more important to get it right than to rush through it. But we have to do something. Because most of our violence in Chicago is perpetrated by repeat gun offenders

(Editor’s note: Bold added for emphasis)

No doubt “getting the language right” is important. But, there could be another reason why it’s taking so long for this legislation to see the light of day. I was listening to WLS-AM 890 (Chicago) back on September 23 when I caught the following. John Dempsey reported on the radio station’s website that day:

In his speech at Malcolm X college, Emanuel also talked about implementing a three year mentoring program to provide support to over 7,000 at-risk youth in Chicago. The Mayor also called on Illinois lawmakers to toughen penalties for gun crimes, something black lawmakers from Chicago have thwarted in the past, out of concern that harsher gun laws would unfairly target African-Americans.

Eddie Johnson told WLS he is currently talking with those lawmakers about drafting a law that would address the real need the city has to make sure repeat offenders are kept behind bars for longer periods of time. “I think that the legislators are coming around now because before we didn’t have concealed carry and you know the sentencing that I’m looking for is not mandatory. It’s focused at repeat gun offenders so that’s not casting a net over the minority population. It’s more like using a spear to focus on the guys that are consistently telling us they don’t want to play by the rules of society. The way we want it to go is that repeat gun offenders would be sentenced on the mid to high end range of sentencing as opposed to giving them lighter sentences.”

(Editor’s note: Bold added for emphasis)

Meanwhile, almost 78 percent (567 victims) of shooting deaths in Chicago in 2016 have been African-Americans (source: HeyJackass!).

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

Source:

Dempsey, John. “Eddie Johnson with Big John and Ray: More cops just a ‘piece of the puzzle.'” WLS-AM 890. 23 Sep. 2016. (http://www.wlsam.com/2016/09/23/eddie-johnson-with-big-john-and-ray-more-cops-just-a-piece-of-the-puzzle/). 6 Dec. 2016.

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Tuesday, December 6th, 2016 Crime, Government, Legal, Public Safety Comments Off on ‘Black Lawmakers From Chicago’ Key To Reducing City’s Gun Violence?

Martin Armstrong: ‘The United States Will Most Likely Break Apart By 2036’

Back on January 27, 2016, I asked:

Do any readers follow Martin Armstrong, economist at Armstrong Economics (and former chairman of Princeton Economics International Ltd.) and the creator of the Economic Confidence Model? While the jury’s still out on him (for me), I do read his blog almost daily…

I still “read his blog almost daily.” And something Armstrong wrote last week really caught my attention. From “The Termination of Cash Approaching Rapidly”:

I am becoming deeply concerned that the United States is headed into its version of a communist revolution under the label “progressive” and the bankers, who Larry Summers has always supported, will be used as the scapegoat for Wall Street and the “rich” who have to be stripped of their liberty and their money for the “good of the people” as they always say. The United States does not look like it will be a country we can recognize by 2032 if we can even make it past 2024. The United States will most likely break apart by 2036. There are separatist movements rising in many areas from Vermont and Texas to California, who reasons they voted for Hillary not Trump justifying their departure.

The entire purpose of eliminating cash is to strip us of our assets, liberty, and to prevent bank runs. The youth, who have been brainwashed by Bernie Sanders and people like Elizabeth Warren, will turn against the older generation and enslave them if at all possible. This threatens our future with outright civil war. They will not be satisfied until they destroy the freedom of their opposition. It is starting to appear that 2036 is our date with destiny

(Editor’s note: Bold added for emphasis)

America kaput by 2036- if not earlier?

That’s a pretty disturbing thought. And reading that blog post reminded me of an article I pulled up almost eight years ago on The Wall Street Journal website (my how time flies) by Andrew Osborn, who discussed a similar prediction made by Russian academic Igor Panarin, a former KGB analyst and Dean of the Russian Foreign Ministry’s school for future diplomats (then and now). On December 29, 2008, Osborn wrote:

Mr. Panarin posits, in brief, that mass immigration, economic decline, and moral degradation will trigger a civil war next fall and the collapse of the dollar. Around the end of June 2010, or early July, he says, the U.S. will break into six pieces — with Alaska reverting to Russian control…

California will form the nucleus of what he calls “The Californian Republic,” and will be part of China or under Chinese influence. Texas will be the heart of “The Texas Republic,” a cluster of states that will go to Mexico or fall under Mexican influence. Washington, D.C., and New York will be part of an “Atlantic America” that may join the European Union. Canada will grab a group of Northern states Prof. Panarin calls “The Central North American Republic.” Hawaii, he suggests, will be a protectorate of Japan or China, and Alaska will be subsumed into Russia…

(Editor’s note: Bold added for emphasis)

Obviously 2010 came and went… and the good ol’ U.S. of A. remains intact.

But I can’t help but wonder if Panarin’s prediction might not be in the same category as an infamous forecast made by the American financial analyst Meredith Whitney about a wave of municipal defaults. I wrote back on December 22, 2010:

Last night Whitney, now CEO and founder of Meredith Whitney Advisory Group, appeared on CNBC and warned that a wave of defaults by state and local governments in the coming months will cause a sell-off in the municipal bond market, hurting U.S. economic growth and stocks- and causing social unrest

I blogged a year-and-a-half later:

Whitney will eventually be vindicated about the wave of defaults (her timing was just off)…

“Her timing was just off”

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s note: A qualified professional should be consulted prior to making a financial decision based on material found in this weblog. If this recommended course of action is not pursued, then it must be understood that the decision is the reader’s and the reader’s alone. The creator/Editor of this blog is not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information contained herein.)

Sources:

Armstrong, Martin. “The Termination of Cash Approaching Rapidly.” Armstrong Economics Blog. 24 Nov. 2016. (https://www.armstrongeconomics.com/world-news/taxes/the-termination-of-cash-approaching-rapidly-the/). 1 Dec. 2016.

Osborn, Andrew. “As if Things Weren’t Bad Enough, Russian Professor Predicts End of U.S.” The Wall Street Journal. 29 Dec. 2008. (http://www.wsj.com/articles/SB123051100709638419). 1 Dec. 2016.

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Thursday, December 1st, 2016 Asia, Bonds, Civil Strife, Class Warfare, Crash Prophets, Currencies, Defaults, Europe, Government, Immigration, North America, Political Parties, Revolution, Stocks, Wall Street, War, Wealth Comments Off on Martin Armstrong: ‘The United States Will Most Likely Break Apart By 2036’

Illinois Gun Dealers Under Legislative Attack

Here’s the latest anti-gun “end-around” being attempted in the state of Illinois. From the National Rifle Association’s Institute for Legislative Action website Monday:

Last week, state Representative Kathleen Willis filed House Amendment 8 to House Bill 1016, another anti-gun amendment that seeks to over-regulate gun dealers and impose restrictions that could potentially force gun stores to close. House Bill 1016 has been sent to the House floor and could be considered at any time. Your NRA-ILA continues to outright oppose House Bill 1016 and any anti-gun amendment proposed. Please continue to contact your state Representative and politely urge them to OPPOSE House Bill 1016.

The federal Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) licenses and closely monitors all FFLs and strictly enforces any violations of federal law. HB 1016 goes far beyond federal law in its mandatory regulations and red tape imposed at the state level that it would almost assuredly force the closure of most firearm dealers, and prevent prospective owners from opening new ones. This legislation seeks to create so many department divisions, anti-gun 5-member licensing boards, and licensing fees that dealers would be forced to close through oversight by anti-gun appointees or would be priced out of business…

The NRA-ILA offers opponents of HB 1016 a way to take action via their website here.

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

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Wednesday, November 30th, 2016 Firearms, Government, Gun Rights, Hunting, Legal, Self-Defense, Shooting Sports Comments Off on Illinois Gun Dealers Under Legislative Attack

Illinois Bullet Serial Number Legislation Going Before House Committee November 15?

Earlier today, an article with the headline “Gun-Controlled Chicago Approaches 4,000 Shooting Victims For 2016” caught my attention on Breitbart.com. In it, AWR Hawkins wrote:

The Democrats in Chicago and the state of Illinois are pushing to squash this mayhem with more gun laws and regulations. One Chicago leader is pressing for a “declaration of a state of emergency” for the city, and state Representative Sonya Harper (D-6th) wants to require serial numbers on every bullet and bullet casing.

Harper told Fox 32, “We just want to know how the guns and the bullets are getting into the hands of our youth and causing senseless harm and murder on our streets.” She did not address that attempts at ballistic fingerprinting have repeatedly failed to solve crime when implemented in other cities, nor did she mention that such regulations drive up the prices law-abiding citizens have to pay for ammunition

(Editor’s note: Bold added for emphasis)

Later, I learned about this proposed ammo serialization program in Illinois on the NRA’s Institute for Legislative Action website:

Tomorrow, the House Judiciary Committee is scheduled to hear House Bill 6615, legislation that seeks to create a serialization system of “handgun ammunition” in Illinois. While HB 6615 claims to only encompass handgun ammunition, the language would also go so far as to include most popular pistol, rifle and shotgun ammunition.

Sponsored by state Representative Sonya Harper, HB 6615 will cost millions of dollars to implement and maintain, and is easily circumvented by criminals who seek to commit their criminal acts without care of another law on the books. Even common household tools could be used to distort or deface the serial number and render it illegible.

Not only would it be ineffective at preventing crime, this anti-gun bill would create a de facto registry of gun owners in Illinois. Every serialized cartridge would need to be registered to the individual that purchased it. This legislation would also criminalize the millions of cartridges that are currently lawfully owned by Illinois gun owners for target shooting, hunting and personal protection. Those who reload their own ammunition would not be allowed to do so anymore because it would be impossible to match the serial numbers on used cartridge cases to new bullets…

(Editor’s note: Bold added for emphasis)

If readers haven’t figured it out by now, Illinois gun “control” supporters never rest.

The NRA-ILA offers opponents of HB 6615 a way to take action via their website here.

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

Source:

Hawkins, AWR. “Gun-Controlled Chicago Approaches 4,000 Shooting Victims For 2016.” Breitbart.com. 14 Nov. 2016. (http://www.breitbart.com/big-government/2016/11/14/gun-controlled-chicago-approaches-4000-shooting-victims-2016/). 14. Nov. 2016.

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Monday, November 14th, 2016 Ammunition, Crime, Firearms, Government, Gun Rights, Hunting, Legal, Political Parties, Public Safety, Self-Defense, Shooting Sports Comments Off on Illinois Bullet Serial Number Legislation Going Before House Committee November 15?
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RSS Chris Hill’s Other Blog: Offshore Safe Deposit Boxes

  • Next Degussa Numis Day To Take Place March 30, 31
    Rare numismatic coins often find their way into safe deposit boxes. And Degussa, a leading international player in the precious metals world which also offers safe deposit boxes (for customers) at branches in Germany, Singapore, Spain, and Switzerland, has posted information about the next Numis Day (first blogged about here) at their Geneva and Zurich […]
  • Related Reading: Switzerland, Canada, United Kingdom Top U.S. News & World Report’s 2017 ‘Best Countries’ Rankings
    Here’s an annual survey one might consider when selecting an offshore safe deposit box location. U.S. News & World Report just released its “Best Countries” rankings for 2017. Kevin Drew reported Tuesday morning on the American media company’s website: Switzerland is viewed as the No. 1 overall country, according to a survey of more than […]
  • Related Reading: London’s Sharps Pixley Spotlighted By The Spectator Magazine
    Monday evening I read an interesting article about London, England-based precious metals showroom/safe deposit box service Sharps Pixley (first blogged about here). Margareta Pagano wrote on the website of The Spectator (UK) this past weekend: When the going gets tough, the tough go shopping. And when the going is seriously tough- as it may be […]
  • Economist Martin Armstrong Warns Of Storing Assets In U.S. Bank Safe Deposit Boxes
    We’re back after a short break. And to jump start the continued discussion about asset protection outside the United States, I’d like to point out a February 25 blog post by economist Martin Armstrong on his company’s website. Regular readers of Offshore Safe Deposit Boxes know that Armstrong brings up bank safe deposit boxes from […]
  • Related Reading: Harrods Safe Deposit Article On The Huffington Post Website
    While putting together the list of offshore private vaults offering safe deposit boxes/lockers for this blog’s sister site, I learned that two of the best-known department stores in the world- Harrods and Selfridges in London, England- provided this service. Yesterday, The Huffington Post website published a piece about Harrods Safe Deposit, which opened in 1896 […]