On August 14, 2020 James R. Thompson (R) passed away. Big Jim Thompson, as he was known, was the 37th and longest-serving governor of the state of Illinois, serving from 1977 to 1991. Thompson is survived by his wife Jayne and daughter Samantha. The Chicago Tribune describes Thompson as a moderate willing to work on a bipartisan basis to pass legislation.
“A better way to describe Thompson is as a tax thief,” said Jim Tobin, President of Taxpayers United of America (TUA). “Thompson was one of the worst tax-raisers in Illinois history. Thompson twice tried to increase the state’s income tax. He championed a ‘temporary’ tax hike in 1983 that took the income tax rate from 2.5% to 3% for two years. Then in 1989, Thompson raised taxes permanently to 3%.”
“When he retired, Thompson secured a gold-plated Illinois General Assembly Pension that his income tax increase would fund. This year, he was set to receive an annual pension of $165,987. His total pension payout from taxpayers stands at over $3,219,842.”
“However, since Governor Thompson has finally passed away, his wife will now receive survivor benefits. According to state law, Jayne Thompson will now receive 66 2/3% of her husband’s pension, increased at a rate of 3% compounded annually. Jayne will receive this pension, despite being reported to still work as President and CEO of her own company.”
“It’s pensions like these that are bankrupting Illinois. The Illinois General Assembly Retirement System in which Mrs. Thompson will receive payment is only funded at 15.65% thanks to overpromised pensions. That’s why the current Illinois governor wants to increase the Illinois income tax with a graduated rate: to take from you, to fund lavish government pensions.”
“Pritzker’s proposed state constitutional amendment is a wealth transfer from taxpayers to wealthy retired bureaucrats who produce nothing. It is urgent that taxpayers in Illinois vote no on Pritzker’s Income Theft Amendment this November 3 and force Illinois politicians to act within the bounds of reality.”