Springfield—Illinois Senate Republican leader Bill Brady so far has refused to oppose a massive 30 cent per gallon increase in the Illinois gasoline tax.
“This is ridiculous,” stated
lifelong taxpayer advocate and President of Taxpayers United of America, Jim
Tobin. “Less then two years ago Democrats held Illinois hostage for a five
billion dollar income tax increase. Now the senate Republican leader doesn’t want
to oppose Democrats who want to pass a two billion dollar increase to the gas
tax? Refusing to stand in the way of this massive tax hike on poor and middle
class taxpayers is a massive betrayal.”
“It’s not too late for him to
change his mind,” continued Jim Tobin. “All it might take are some everyday
taxpayers to remind Senator Brady that it is taxpayers, not empty CTA buses
that matter. That is why I urge taxpayers to contact this senator, and remind
him that he has a duty to the people to resist Springfield Tax Raisers.”
If you want to tell Senator Bill Brady to oppose this TWO
BILLION DOLLAR gasoline tax increase, you can find his contact
information at the Illinois General Assembly website here: http://www.ilga.gov/senate/Senator.asp?MemberID=2542
or call his office at (309) 664-4440.
Chicago – Taxpayers United of America (TUA) has released the updated study of the Chicago Teachers’ Pension Fund (CTPF) conducted by its education arm, Taxpayer Education Foundation (TEF).
“Chicago teachers are guaranteed a rich future that they consistently fail to provide for their students,” stated Jim Tobin, president and found of TUA.
“No place is it more apparent that teachers are not paid for performance in educating our students than in Chicago Public Schools (CPS). Although the CPS graduation rate has increased to about 78%, it still trails the national average of about 84% and yet salaries are among the highest in the nation.”
“Chicago taxpayers are clearly not getting what they pay for. CPS pays its teachers more than any other major metropolitan government school district. Those generous paychecks equate to even more generous pensions. With a 3% compounded cost of living adjustment it takes only about 10 years to make more than their final average salary and the pension itself doubles in about 25 years.”
“There are more than 1,275 CTPF pensioners collecting more than $100,000 a year while the average Chicago taxpayer receives only about $17,000 in Social Security pension payments. That doesn’t even include most administrators who participate in a different pension fund.”
“Chicago area property taxes continue to climb in order to cover the ballooning pension payments. Chicago homeowners suffered a 10% property tax increase last year and another 5% increase this year and there is no end in sight.”
“Now that J. B. Pritzker has been elected as Illinois’ governor, you can count on a massive state income tax increase via the income tax increase amendment, a graduated income tax increase for Illinois. Their proposed structure would decimate the middle class.”
“Manford Byrd still tops the list of CTPF pensioners. His current annual pension is $202,244 and he has been paid $2,493,466 so far.”
“Mary A. McGuire makes more now in retirement than she did when she was employed. Her current annual pension is $185,201 while her final average salary was $183,800. With her compounded 3% cost of living adjustment, she should take in about $4,435,398 over a normal lifetime.”
“Imagine getting $5,871,750 in lifetime pension payments! That’s what Barbara June Eason-Watkins is on track to collect. Her current annual pension is $184,057 and she only paid 4.3% into her own pension fund.”
“Chicago is on a downward spiral as more and more taxpayers are moving out of the city and out of Illinois. That leaves a higher tax burden for those of us who stay as spending continues to increase – a formula for disaster.”
“Illinois needs to pass pension reform that ends the overly generous pensions and salaries being paid to government employees. New hires need to be placed in retirement savings accounts and retirement ages need to be raised. Without these changes, Chicago and Illinois will be completely bankrupt.”
Click here to view the Taxpayer Education Foundation’s 12th annual pension study
Springfield – Taxpayers United of America (TUA) today released its updated study on Springfield, Illinois government employee pensions, publishing the top 200 pensions for Springfield and Sangamon County Illinois Municipal Retirement Fund (IMRF), the top 200 pensions of the Teachers’ Retirement Fund (TRS), and the top 200 pensions of State University Retirement System (SURS).
“Springfield and Sangamon County are in dire financial condition due to the funding of the government pensions throughout the county,” stated Jim Tobin, president of TUA.
“Springfield and Sangamon County have been increasing taxes at an unsustainable rate in order fund the unsustainable government pensions. Springfield increased its city sales tax by $0.25 and increased taxes on telecom services from 11% to 13% and Sangamon County has a property tax increase referendum on the 2018 ballot to increase Sales Taxes County wide.
“Not only is the county seeking a sales tax increase but Mt. Pulaski also has a $10 million property tax increase referendum for Mt. Pulaski High School. The Village of Jerome is seeking an additional property tax increase specifically for IMRF payments. On top of this, Rochester Public Library District is also supporting a property tax increase referendum on November 6.
“While IMRF pensions are funded by property taxes, other taxes free up money so Springfield and every other municipality can use these revenues for services in order to free up money for the state mandated property tax deposits to the IMRF fund. Every year, the IMRF portion of the property tax bill increases leaving fewer resources available for the services required for taxpayers. In 2017, about 18% of Springfield property tax revenue collected went to government employee pensions. If not reigned in, Springfield will find itself like Galesburg which pays a colossal 67% of its property taxes towards unnecessary lavish government pensions.”
Click here to see the top 200 Sangamon County TRS pensions
Click here to see the top 200 Springfield and Sangamon County IMRF pensions
Click here to see the top 200 Sangamon SURS pensions
“But J. B. Pritzker and House Speaker, Democrat Michael Madigan have plans to raise state income taxes if Pritzker wins the gubernatorial election on November 6,” added Tobin.
“Priztker advocates for an immediate income tax increase and also supports the Income Tax Increase Amendment, which would change the current flat-rate state income tax to a graduated state income tax. He and his buddy Madigan plan on placing the amendment on the November 2020 statewide ballot.”
“If the amendment passes, you can expect the state’s middle class to be decimated. Here’s why: House Bill 3522, filed by state Rep. Robert Martwick, D-Chicago, would tax incomes between $7,500 and $15,000 at 5.84 percent. For incomes between $15,000 and $225,000, the rate would be 6.27 percent. And for incomes over $225,000, the rate would be 7.65 percent. Some politicians are whispering about a maximum income tax rate as high as 9.85 percent,” added Tobin.
“The pension data speaks for itself. The average Sangamon County taxpayer’s Social Security pension is about $17,000 and is funded completely with private money from taxpayers and their employers.”
“IMRF pensioners collect Social Security on top of their very generous local government pensions so taxpayers are forced to shell out an additional 15% of the local government employee salaries.”
“TRS pensioner Michael D. Johnson enjoys a stunning $253,450 annual pension. He likely gets about $30,000 taxpayer funded Social Security on top of that. His TRS pension will accumulate to more than $9 million over a normal lifetime. This ‘poor civil servant’ retired at the ripe old age of 55 and he only paid little more than $310,000 into his own retirement.”
“Robert A. Alvey retired from Sangamon County Water Reclamation District with an annual pension of $152,415. He was 60 at retirement and only paid $103,555 into his own pension which will accumulate to about $3,656,771 over a normal lifetime.”
“Harry Berman retired from University of Illinois at Springfield with an annual pension of $176,906. Those annual pension payments will accumulate to about $4,036,350.”
“If Pritzker gets elected, he and Illinois tyrant Madigan will see to it that these pensions are subsidized by taxpayers. The pension promises bring in the thousands of union and government employee votes. Taxes will increase at a devastating rate and more and more Illinoisans will leave the state, driving up the tax burden for those of us who stay.”
“It is just unreasonable to allow people to retire in their 50’s and early 60’s and expect taxpayers to foot the bill, but if Madigan gets his way and Pritzker wins the governor’s race, government pension reform won’t occur anytime soon,” concluded Tobin.
Taxpayers United Of America: (TUA). is a nonpartisan, 501(c)(4) taxpayer advocacy group. Founded June 27, 1976 in Chicago, Illinois by activist and economist Jim Tobin, TUA works on behalf of taxpayers to reduce local, state, and federal taxes. In the past forty years, TUA has saved taxpayers more than $200 billion n taxes and has become one of the largest taxpayer organizations in America. Check All posts.
Chicago, IL 60606
205 W. Randolph Street, Suite 1305
Phone: (312) 427-5128
Fax: (312) 427-5139