Good and bad news for Illinois

[Kondor3]

Don't worry everyone.

The union is going to toss it's retirees under the bus, so current, dues paying members will be raking it in.

Yes. That seems entirely possible. I think I've even seen examples of this kind of behavior in the past several years, although I"m hard-pressed to list them at the moment.

 

[Wyatt earp]

Don't worry everyone.

The union is going to toss it's retirees under the bus, so current, dues paying members will be raking it in.

Yes. That seems entirely possible. I think I've even seen examples of this kind of behavior in the past several years, although I"m hard-pressed to list them at the moment.

never heard of that before, it would be interesting to read about.

 

[martybegan]

The prime issue is that an amendment to a state's consitution that guarnatees state worker pensions should have never happened in the first place.

So if the pension costs continue to rise the state is left with two options, cut services and/or raise taxes, both of which would lead to a massive exodus of the productive population. Basically look at detroit on a state level.

So the maintenance of state worker pensions, pensions which were set up by people courting the state unions for votes (shifty if you ask me) overrides the surivival of the states ability to govern and maintain a productive population?

< puts on fake State Worker's Hat again for a moment >

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No... the prime issue is you giving me my fucking money.

Don't tell me your little problems...

I'm only interested in results...

I fulfilled my end of the bargain and kept the faith for 30 years...

Now... give me my fucking money...

Or my brothers and sisters - active and retired - are gonna crucify you in Federal Court...

Not to mention work-stoppages and work-slowdowns to make anything like it that has gone before, to look pale by comparison...

Enough talk already... no excuses... no bullshit... no weasel-rationalizations... just give me my fucking money.

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< takes fake State Worker Hat off again... sorry >

So lets look at it another way. So the state has to massively raise taxes to cover said pensions. Businesses leave, people leave, non government worker unemployment skyrockets. Now your tax revenues actually DECREASE despite the rate increase.

So NOW how do you keep paying these people? The answer is, you don't.

 

[Kondor3]

"...So lets look at it another way. So the state has to massively raise taxes to cover said pensions. Businesses leave, people leave, non government worker unemployment skyrockets. Now your tax revenues actually DECREASE despite the rate increase. So NOW how do you keep paying these people? The answer is, you don't".

< puts fake State Worker's hat on >

Don't tell me your little problems... just give me the fucking money you promised me.

< takes fake State Worker's hat off >

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But, in all seriousness, and as a related aside...

Illinois has been driving-away business for years, as has its largest city - Chicago.

Businesses have been fleeing the City of Chicago for decades... taxes are far too high, the infrastructure is rusting and rotting and crumbling-away... too much ghetto and not enough stable neighborhoods... corrupt local politicians and council-folk... bloated bureaucracy... the City largely controls surrounding Cook County... the City half-controls the State Legislature... businesses leave for the suburbs or downstate or out-of-state all the time.

Businesses have been fleeing the State of Illinois as well... suffering, as it does, from many of the same symptoms as Chicago... to the point where the Governor of Texas (Perry) made a 'raid' here in Illinois, back in April... a campaign to begin luring businesses away from Illinois, to bring them to Texas... and that's because Illinois is 'easy prey' when it comes to its financial condition and prospects and businesses wanting to get out while there's still time.

We aren't anticipating a Financial Apocalypse here... it's here... or almost... just around the corner... and all the Pension Reform in the world isn't going to change that.

 

[Two Thumbs]

Don't worry everyone.

The union is going to toss it's retirees under the bus, so current, dues paying members will be raking it in.

Yes. That seems entirely possible. I think I've even seen examples of this kind of behavior in the past several years, although I"m hard-pressed to list them at the moment.

never heard of that before, it would be interesting to read about.

Got this info from a lady that worked 30 years for the state.

 

[Mr. H.]

Not only is the Illinois legislature considering reneging on the "temporary" tax increase, they are looking at increasing taxes yet again...

Illinois Considering Progressive Income Tax - TaxLawHome.com

There has been ZERO progress in solving the unfunded pension crisis...

We are headed for the shitter for sure.

 

[Two Thumbs]

Not only is the Illinois legislature considering reneging on the "temporary" tax increase, they are looking at increasing taxes yet again...

Illinois Considering Progressive Income Tax - TaxLawHome.com

There has been ZERO progress in solving the unfunded pension crisis...

We are headed for the shitter for sure.

Democrat legislatures have now proposed a third option, which is to change the Illinois state income tax to a progressive tax system. Democrats are calling this option the fairest option, as it would mean that those taxpayers who have seen the largest increases in wealth would be responsible for more off the tax bill.



If they were honest, they would have said that they didn't want to piss off the people that would vote them in again.


It's the old dog and pony show.

 

[Mr. H.]

The Constitution will have to be amended, which would show up on the ballot. This will be an easy sell... a "tax the rich" scheme which will appeal to Chicago and east St. Louis voters. They control the entire state of Illinois.

 

[Two Thumbs]

The Constitution will have to be amended, which would show up on the ballot. This will be an easy sell... a "tax the rich" scheme which will appeal to Chicago and east St. Louis voters. They control the entire state of Illinois.

Oh yeah.

What's 'down state'?

Everything not chicago including what is north of it.

and chicago doesn't really need EStL, it's had the numbers for decades, and there's just enough idiots outside the state to back them.