OUTRAGEOUS GOVERNMENT-EMPLOYEE PENSIONS HARMING LAKE COUNTY TAXPAYERS!

The Taxpayer Education Foundation (TEF) today released its study of the Lake County area government-employee pensions, highlighting the top pensions in the Teachers Retirement System (TRS), the State Universities Retirement System (SURS) and the Illinois Municipal Retirement Fund (IMRF). Taxpayers United of America (TUA) issued the following statement based on the TEF pension study.

“It is no mystery what’s driving the economy-killing property tax increases in Lake County,” said Jim Tobin, TUA president. “It’s the state’s lavish, gold-plated pension plans for retired government employees.”

“The perpetual tax increases that plague Illinois residents have nothing to do with children, roads, or services. They are about pensions for the privileged government class. This money may be ‘earmarked’ for buildings or whatever, but in reality it only frees up increased taxes for government pensions. It’s a shell game.”

“Those of us in the private sector must reduce our spending if our income decreases; we can’t just go to our employer and demand more money to fund irresponsible spending. That’s not true for the political class.”

“The IMRF pension fund, which gives lavish, gold-plated pension benefits to retired municipal employees, is subsidized by property taxes. If that isn’t bad enough, IMRF pensioners are also eligible to receive Social Security pensions.”

“When you look at what the individual government retirees are actually collecting in taxpayer-funded pensions, you can get a better idea of why this theft of taxpayer wealth is so outrageous. Keep in mind that the average taxpayer will collect only about $17,500 a year from Social Security.”

“Here are some egregious examples.”

“Dwight Magalis retired from the Lake County government at the age of 52! His current annual pension from IMRF is $172,303. He will receive $3,030,251 in total pension payments over a normal lifetime. He also is eligible for Social Security. ”

“Henry S. Bangser retired from New Trier TWP HSD 203 at the age of 57. His current annual pension is $331,489. For a total contribution he made to his pension of only $336,612, he will accumulate $9,557,306 in taxpayer funded pension payments over a normal lifetime. What a racket!”

“Girard Weber retired from the College of Lake County at the age of 66. His current annual pension is $304,266. For a total contribution he made to his pension of only $314,282, he will receive $7,015,970 in total pension payments over a normal lifetime. Wow!”

“Linda L. Yonke retired from New Trier TWP HSD 203 at the age of 63. Her current annual pension is $263,645. She will receive $7,484,592 in total pension payments over a normal lifetime.”

Click here to view all top Lake County Pensions.

“The entire local and statewide pension system in Illinois is unsustainable. The other five statewide pension funds are partly funded by the state income tax. Democrat Governor Jay Robert ‘J. B.’ Pritzker and his tax-raising cronies want to stick it to middle class taxpayers by increasing the state income tax again. They placed, on the November 2020 ballot, another statewide income tax increase.

What does a statewide income tax increase mean for you? It means stealing from you to subsidize government pension millionaires.”

“The federal graduated income tax was sold to taxpayers as ‘a tax cut for the middle class.’ How did that turn out?”

“The state government employee pension system is the single cause of Illinois’ critical financial situation and it is mathematically impossible to tax our way out of this situation.”

“The Illinois government in Springfield has failed us. It’s in everyone’s best interest to solve the pension problem before the system completely collapses. It is no longer a matter of ‘if’ it will collapse, but when.”

“All new hires should be placed into 401(k) style retirement savings accounts. Member contributions to their retirement funds should be increased. Retirement age for full benefits should be increased to at least 65, preferably to 67, and contributions for health care also should be increased. Anything short of these reforms will do nothing to permanently solve the problem.”

ILLINOIS ONE OF WORST STATES FOR BUSINESS TAX CLIMATE!

Picture Taken by Pete Jelliffe and used under creative commons license.

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Illinois is one of the worst states for business tax climate, according to the just-released report of The Washington, D.C.-based non-partisan Tax Foundation. According to its 2020 State Business Tax Climate analysis, Illinois ranks 35th out of fifty states. (https://statetaxindex.org/state/illinois/)


The State Business Tax Climate Index is a measure of how well states structure their tax systems. It enables policymakers, business leaders, and taxpayers to gauge how their states’ tax systems compare, and provides a roadmap for improvement. “This new report illustrates just how hard it is for our high-tax State of Illinois to compete with its surrounding states,” said Jim Tobin, president of Taxpayers United of America TUA).


“Four of Illinois’ five neighboring states are significantly better in structuring their tax systems: Indiana is #10, Missouri is #14, Kentucky is #24 and Wisconsin is #26.” “Of the individual components of the index, Illinois is 36th on corporate taxes, 40th on property taxes, and 40th on unemployment insurance taxes.”


The foundation also points out that the absence of a major tax is a common factor among many of the top 10 states. Several states do without one or more of the major taxes: the corporate income tax, the individual income tax, or the sales tax. Wyoming, Nevada, and South Dakota have no corporate or individual income tax (though Nevada imposes gross receipts taxes); Alaska has no individual income or state-level sales tax; Florida has no individual income tax; and New Hampshire, Montana, and Oregon have no sales tax.


This does not mean, however, that a state cannot rank in the top 10 while still levying all the major taxes. Indiana and Utah levy all of the major tax types, but do so with low rates on broad bases.


“Illinois is hemorrhaging jobs and population,” said Tobin. “In order to bring back businesses and taxpayers, at the very least the Springfield politicians should cut taxes across the board. This result would give them breathing space while they tackle the really tough problem of the state’s government pensions.”

Jim Tobin Warmly Welcomed At The Ronald Reagan Breakfast Club

Rock Island – The Ronald Reagan Breakfast Club yesterday hosted a meeting to oppose the graduated income tax increase amendment promoted by Illinois Governor J.B. Pritzker. Invited as a guest speaker to the meeting was none other than TUA President Jim Tobin.


“The graduated income tax is another scam being pushed by lying Springfield politicians,” said Tobin. “The first scam was the Illinois state sales tax, which was sold as a temporary tax to get the state past the great depression. Then there was the state income tax that was promised to provide permanent property tax relief for home owners. After that was the ‘temporary’ toll roads. Now, after passing a $5 billion state income tax increase, Springfield tax thieves want more.”


The Ronald Reagan Breakfast Club meeting was hosted at The City Limits Saloon and Grill. The meeting room quickly became filled, with people spilling over into a second room. In the end, the meeting became standing room only. 


“I keep hearing about people leaving Illinois, which is true. However, meetings like this give me hope for Illinois. It shows that taxpayers are ready to fight against these ridiculous tax increases. If Pritzker thinks passing more income tax increases on Illinoisans will be easy, he is sorely mistaken.”


Click Here To View Top Rock Island County Pensions
Click Here To View Vote No Graduated Income Tax Flyer
Click Here to View 2019 Pension Report Overview