That's right, $1 of every $3 of your Illinois individual income tax goes to retired teachers, a calculation says.
That's $1,578 if you live in Chicago, are married and your household income is $100,000. That's $1,578 that won't go to needed healthcare, social services and schools.
Stunning, isn't it.
And J.B. Pritzker, the Democrat candidate for Illinois governor wants a
progressive income tax will grab more of your money. With the state (i.e. taxpayers) owing some $140 billion to Illinois' troubled public employees' pensions, will that extra money go to those pension funds? Or would Pritzker and the Democrats continue past practices, by raiding taxes meant for pensions, leaving the funds no better off. If it were up to the public employe unions, I'd pick the former.
...30,000 Illinois educators with either salaries or pension payouts greater than $100,000 [are] costing taxpayers $3.7 billion annually....
For 30,000 Illinois educators, the new “minimum wage” is $100,000+. Nearly 20,000 of these employees are currently working, while the other 11,766 are retired – pulling down six-figure pensions.
And by the way, the Illinois Legislature "passed a new mandate requiring base pay of $40,000 for Illinois educators." That doesn't just impose more costs on school districts that are scratching just to get by. Or impose more pain on property taxpayers who already are shelling among the highest in the nation. It also increases future pension costs under the present pension system by increasing the pay on which the pensions are figured.
Now, House Speaker Michael Madigan and your Democrat acolytes have your 35 percent income tax increase, what are your plans for solving Illinois' structural problems? Prominent among them being the overly generous public worker pensions. You said that you would not accept a state budget that had any of Gov. Bruce Rauner's reforms because you wanted a "clean" bill.
Well, guys, you got it. The "bipartisan" budget you passed does little if anything to solve those structural problems. And now that you got it, what are you going to propose? Nothing significant if we continue the way your "governance" has crippled Illinois.
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