Lake Forest’s Lavish Pensions

By on October 9, 2020   /   IL, Latest  

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Lake Forest, IL – Government pensions are too rich even for taxpayers in Lake Forest, according to Jim Tobin, economist and president of Taxpayers United of America (TUA).


“Greedy tax-raisers believe that there is no limit to the taxes that residents of Lake Forest can pay,” said Tobin. “They have been hit with a 100% sales tax increase, a 2.5% increase in the water tax, and a 4.64% increase in property taxes. And if Democrat Gov. Jay Robert “J. B.” Pritzker gets his way, they will also take a huge hit in their state income-tax.”


“The Teachers’ Retirement System (TRS) is one of the most bloated pension systems in the state. Even if one is accused of sexual misconduct with students, Illinois will make sure the accused will get a multi-million-dollar pension payout: David Miller who’s been so accused, has already collected $2,080,863 in pension payments and is on track to collect $3,826.299 over a normal lifetime.”


“All of the top 200 TRS pensions in Lake Forest have nearly one million-dollar payouts as well as all being higher than $50,000 a year. On average, teachers only work about 27 years before they are eligible to retire and collect full pensions. The average age of an Illinois teacher at retirement is only 59.


“The TRS is only about 50% funded, and this is what the proposed Pritzker income-theft amendment is all about. Pritzker has placed an amendment on the November 3 ballot to change the state flat-rate income tax to a graduated income tax. If passed, this graduated tax will decimate the state’s middle-class.”


“Between the mass exodus of Illinois residents to more tax-friendly states and the huge loss of jobs and income from Pritzker’s lockdown, Illinois’ middle-class will virtually disappear. Lake County has lost more than 7,600 residents.”


“Here a just a few of the bloated government pensions in Lake County: Harry D. Griffith, Lake Forest SD 67 retiree, has a current annual pension of $288,432. He will collect about $7,795,797 in estimated lifetime pension payments.


Girard Weber retired from the College of Lake County and currently collects $313,394 a year from the State University Retirement System (SURS). His estimated lifetime payout is $6,866,183. He had to invest only $314,282 of his own money for that payout.


Click here to view Top 200 Lake Forest TRS pensions


Click here to view Top 200 Lake Forest IMRF pensions


Click here to view Top 200 Lake Forest SURS pensions


“Illinois government employees work only 20.1 years on average in order to collect these lavish, gold-plated pensions. And for every dollar they deposit in their own pension fund, taxpayers are forced to fork over $4.74. Add to that a 3% COLA, compounded for all but IMRF, and it doesn’t take a genius to understand why Illinois’ government pensions are insolvent.”


“Rather than put an income theft amendment on the ballot, Pritzker should have pushed for a pension reform amendment,” said Tobin.

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DESPERATE AND DUPLICITOUS PRITZKER HAS LT. GOV. STRATTON THREATEN ILL. TAXPAYERS IN COWARDLY MOVE

By on September 28, 2020   /   Latest  

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Ill. Gov. Jay Robert “J. B.” Pritzker is so worried that his income theft amendment to the Ill. Constitution will go down to defeat on November 3 that he is threatening to raise the state flat-rate income tax if his amendment doesn’t pass, said Jim Tobin, economist and president of Taxpayers United of America (TUA).

“Not only is Pritzker trying to intimidate his constituents,” said Tobin, “but he doesn’t have the guts to do it himself. He had his minion, Lt. Gov. Juliana Stratton, do his threatening for him.”

Stratton announced that Illinois lawmakers would have no other choice but to increase the state’s income tax by 20% if voters didn’t approve Pritzker’s amendment.

“Stratton’s threatened increase on behalf of Pritzker would raise the state income tax rate by $4 billion to 5.94%. This would be the highest personal income tax rate in Illinois history. This threat by Pritzker, through his mouthpiece Stratton, is unconscionable,” said Tobin.

“Cutting state spending is one obvious solution, but that put out of work government bureaucrats who vote as a bloc for Democrats like Pritzker.”

“The ultimate solution to the state’s fiscal problems would be for Pritzker’s thugs in the general assembly to sponsor a state constitutional amendment that would enable cutting back the lavish, gold-plated pensions that are making pension millionaires out of retired government employees. But, to state Democrats, this solution is unthinkable.”

‘Rather than trying to prevent the state from going down the drain, Pritzker is relentless in his support of converting the state income tax into a graduated income tax, which would destroy the state’s middle class. If the amendment is approved by voters, the corrupt general assembly could – and would – raise the rates for the various income levels as frequently and as high as they want.”

“Additionally, the state corporate income tax rate would jump from 9.5% to 10.49%, making it the third-highest corporate income tax rate in the country, driving even more small businesses out of the state.”

“Illinois has had some rotten apples for governors, but now, Pritzker is turning out to be the worst governor in the history of Illinois.”

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PRITZKER’S INCOME THEFT AMENDMENT WOULD MAKE STATE CORPORATE INCOME TAX THIRD HIGHEST IN THE COUNTRY

By on September 22, 2020   /   Latest  
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The proposed state constitutional amendment on the November 3 ballot, endorsed by Ill. Gov. Jay Robert “J. B.” Pritzker, would make the Illinois corporate income tax the third-highest in the country, said Jim Tobin, economist and president of Taxpayers United of America (TUA).

“Pritzker’s income theft amendment would change the Illinois state income tax from a flat rate tax to a graduated income tax,” said Tobin. “The state corporate income tax rate would jump from 9.5% to 10.49%, making it the third-highest corporate income tax rate in the country.”

“Another name for Pritzker’s proposed tax hike would be the Job Killer Tax. Taxpayers and companies are fleeing the state for states with lower taxes. The state’s population is dropping. The state economy is sick, and the state government is essentially bankrupt. Yet ‘J. B.’ wants to raise taxes even higher, which would crush small businesses already struggling from the impact of Pritzker’s soviet style lockdown.”

“What’s worse, Springfield politicians could raise the tax rates for each income level whenever they want, and as much as they want. You can be sure they will raise tax rates as sure as the sun will come up tomorrow.”

“The vote on the Pritzker theft amendment on November 3 will determine whether or not Illinois has a future. I urge all taxpayers to vote on this issue. There won’t be a second chance for Illinois.”

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