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PEOTONE—Jim Tobin spoke to 200 members of STAND (Shut This Airport Nightmare Down) at STAND’s Apr. 21 rally to oppose the proposed government airport in Peotone.
The state of Illinois has spent $150 million on this boondoggle and is threatening to use “quick take” eminent domain to steal farms and homes from local citizens for an unnecessary government airport supported by Chicago Congressman Jessie Jackson, Jr.
Tobin said the state is using the four year 67 percent income tax increase surcharge to fund lavish government pensions and to take their properties. He asked taxpayers to throw all Springfield Democrats out of office Nov. 6, 2012 to repeal the income tax surcharge and end the Peotone airport nightmare.
The rally was held in front of a fenced off state compound, formerly a farm house and barn.
View pictures from the rally below:
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CHICAGO–The average Chicago police pension is worth three times that of Social Security and police can retire with six years less work, according to research by Taxpayers United of America (TUA).
“The maximum Social Security pension is $22,000 at age 62, with a minimum of 35 years of work,” said Jim Tobin, TUA President. “The average Chicago police pension (2009-10) is $62,000 at age 58 after 29 years.”
“For a person on Social Security age 62 getting $22,000 a year, the estimated total pension payout over a normal lifetime is $560,000. Compare this to an average Chicago police pension of $62,000 starting at age 58. In this case, the estimated total pension payout over a normal lifetime is $2,500,000.”
“The average Chicago police pension is worth three times that of Social Security with retirement four years earlier and with six years less work.”
“In other words, they retire four years earlier, work six years less, and get three times as much.”
“For the Top 100 Chicago Police Pensions, the average pension is over $110,000 a year.”
“Police contribute 9% to their pension fund. The total Social Security contribution by employee and employer is 12.4%. Employers in the private sector pay employees less to compensate for their mandated Social Security contribution. Self-employed individuals pay 13.3% into Social Security on incomes up to $106,800.”
