$1 of every $3 in Illinois individual income tax is paid to retired teachers

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

 More, more, more. I've got my billions. Give me billions in taxes to play with. (Brian Cassella / Chicago Tribune)

More, more, more. I’ve got my billions. Give me billions more in taxes to play with. (Brian Cassella / Chicago Tribune)

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.

According to Adam Andrzejewski CEO of OpenTheBooks.com that compiled the numbers, 

…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.

Related: J.B. Pritzker has answers for all the easy questions, but when it comes to fixing Illinois, he’s ‘gotta go'”



My historical novel: Madness: The War of 1812

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    The locked in, unchangeable 3% annual compounding is also a killer. A teacher retiring at age 55 in 2000 with 30 years of service in a good suburban district would have received an initial pension of about $60,000 annually. Compounding, however, brings it to about $102,000 this year.

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    Oh, and because it’s a qualified pension plan, that income is tax free in Illinois.

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