The looming bankruptcy red flags continue to mount for Illinois as individuals and companies exit the state in search of good jobs, lower taxes, and to escape the entrenched cronyism, corruption and dysfunctionality of its politicians and unions.
We’ve chosen to keep our mortgage in retirement. We refinanced to take advantage of the historically low rates and that has dropped our monthly payment amount which is good during retirement mode. And we get to keep the deduction for mortgage interest which helps at tax time. If something comes up where we will need some cash (emergency; health issues; remodeling), we can easily open a Home Equity Line of Credit (HELOC) and also get a deduction for the interest on that loan. With bank, CD, and mutual fund rates so low, for our house in our neighborhood in our town, it is the most reliable performing asset we have, having consistently appreciated over the long term (30 years).
Does lowering the federal corporate income tax rate result in employers creating more jobs?