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Government Pensions Drive Peoria Property Taxes Through the Roof

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PEORIA—Taxpayers United of America (TUA) today released the results of a new pension study of the pensioners of Peoria municipal and county government, Peoria County government schools, and Illinois Central College.

“Illinois leaders, Gov. Patrick Quinn (D), Michael Madigan (D), and John Cullerton (D), continue to fail in their duty to taxpayers in Peoria,” stated Jim Tobin, president of TUA. “Despite the so called pension reforms passed last year, Illinois’ government pension liabilities have grown to $187 billion.”

“St. Sen. David Koehler (D-46 Peoria), along with Quinn, Madigan, and Cullerton, have been named among Illinois’ Most Notorious Tax Villains for their support of increasing the state income tax on as many as 85% of Peoria taxpayers through a graduated income tax.”

“It has never been clearer that the job-killing policies of raising taxes to prop up the gold-plated government pensions, and the union votes that follow, are more important to these Tax Villains than the future of Illinois itself.”

“The proposed graduated state income tax is nothing more than a money grab for the government bureaucrats who would rather take every last penny of taxpayer income for their own enrichment.”

“Peoria has one of the highest unemployment rates at 10.1% and the second highest property taxes of comparable cities in the midwest. More than half of the backbreaking property tax bills go to schools, but what is Peoria getting for its money? Eight low-performing schools.”

“What does $187 billion in unfunded pension liability look like to Peoria residents? Retired Peoria County employee, Kevin W. Lyons, is enjoying a cool $147,129 annual pension that will accumulate to an amazing $6,302,797 in estimated lifetime payouts because he was able to retire at the ripe old age of 55. His personal contribution to that payout was only a little more than $200,000, or 3.2%.”

Francis H. Hinton II, II retired from Peoria SD 150. His estimated lifetime payout is a stunning $4,928,048 based on a cushy annual payment of $182,085.”

Click on the links below to view the complete lists of top Peoria government pensions:

“These are shocking amounts for taxpayers to be on the hook. And while these represent the highest pensions, it does not diminish the fact that every Peoria household owes about $4,000 to fund the pensions alone. Peoria Taxpayers pay 4 times more toward the city government pensions than the government employees who will be paid not to work for more years than they are actually employed!”

“Illinois’ government employee pensions are in dire trouble with no end in sight. Government employees, like the vast majority of taxpayers should save for their own retirement. Taxpayers simply can’t afford to pay so many, so much, to do absolutely nothing and retirees can’t afford the inaction of Illinois lawmakers who are afraid to alienate the special-interest money that keeps them in office.”

“Without sweeping and immediate reform, Illinois’ pension system will collapse. We need to fire Quinn, Madigan, Cullerton, Koehler, and every one of the Tax Villains who support a graduated income tax or any other tax increase intended to prop up the failed government pension system rather than muster the political courage to end unfunded pension liabilities forever.”

“Pension reform must include raising retirement age to 67, increasing employee contributions by 10%, increasing healthcare contributions to 50% for employees and retirees, eliminating all COLA’s, and replacing the defined benefit system with a defined contribution system for all new hires. It’s mathematically impossible to tax your way out of this problem. Illinois has more than 10,000 retirees collecting more than $100,000 in annual pensions; in 2020, that will be over 25,000 six figure pensioners.”

*Lifetime estimated pension payout includes 3% compounded COLA and assumes life expectancy of 85 (IRS Form 590).

Liar, Liar Dick on Fire!

Dick DurbinView Release as PDF

Illinois Senator Richard “Dick” Durbin is not only a habitual liar, but most of the time he gets away with it, according to wizbangblog.com, the media network focusing on news, politics, and entertainment.

In its February 11, 2014 article, “Senator Dick Durbin Lies With Impunity,” Warner Todd Huston wrote, “Senator Dick Durbin is at it again, lying through his teeth….”

First Durbin told Bob Schieffer on Meet the Press, “Ten million Americans have health insurance today who would not have had it without the Affordable Care Act – 10 million”

The Fact Checker of the Washington Post noted that Durbin appeared to be combining two figures released by the administration, and neither number was true.

Turning to the subject of the deficit, Durbin stated that Obamacare was “going to reduce the deficit more than we thought it would.”

Of course, the recent CBO report did not say Obamacare would lower the deficit. Huston noted that “On the contrary, the report said that the deficit will rise uncontrollably after 2015,” said Huston.

The Post commented that “…the number pushed by the White House, that 6.3 million have gotten new insurance under Obamacare, is impossible to substantiate because there is no way to know if those that tried to sign up actually got an insurance policy and began paying premiums. The White House is making claims that it simply cannot prove and Durbin parroted these empty claims.”

Huston added that back in October, Durbin claimed that one Republican told Obama that he “can’t even stand to look at” him in a meeting. This claim of the racist attack delivered to Obama in a face-to-face meeting turned out to be a lie.

This is, Huston concluded, the same scumbag senator who compared our soldiers to Nazis. (See Democrat senator: U.S. troops ‘Nazis’.)

Tax Freedom Day Comes Late For Illinois – The 7th Highest Tax State

Tax Freedom Day 2014 Map_0View Release as PDF

The non-partisan Tax Foundation in Washington, DC, just released its annual calculations for its Tax Freedom Day (TFD), and the news is not good.

Tax Freedom Day is the day when US taxpayers have earned enough money to pay their total tax bill for the year. After that day, the money is the taxpayers’ to keep. Taxes at all levels of government are included, whether levied by the federal government or state and local governments.

Tax Freedom Day for US taxpayers this year is April 21, three days later than last year. Taxpayers have three fewer days of their money to keep. According to the foundation, “In 2014, Americans will pay $3.0 trillion in federal taxes and $1.5 trillion in state and local taxes, for a total tax bill of $4.5 trillion, or 30.2 percent of income.” In 1900, Americans paid only 5.9 percent of their income in taxes.

Total tax burdens vary from state to state due to different state and local taxes. Illinois’ total tax burden clearly shows it is a high-tax state. The Illinois Tax Freedom Day is April 28, making it the 7th highest total tax burden in the nation. Connecticut is tied with New Jersey for number 1, the highest total tax burden, and California is number 4.

Illinois’ high tax rates place it at a distinct disadvantage with respect to adjacent states. Of the states surrounding Illinois, every state has a lower tax burden.

Wisconsin is 13th highest, with a Tax Freedom Day of April 22. Iowa is 32nd highest, with a TFD of April 13. Indiana is 24th highest, with a TFD of April 16. Missouri is 36th highest, with a TFD of April 11. Kentucky is 44th, with a TFD of April 8.

“This November, the election for Illinois Governor and members of the Illinois General Assembly will determine whether the state economy thrives or withers away,” said Jim Tobin, President of Taxpayers United of America (TUA). “Taxpayers and small businesses are fleeing to states with lower taxes, such as Texas (32nd highest) and Florida (25th highest). Unless the state personal income tax of 5 percent and the state corporate income tax of 9.5 percent in Illinois are reduced, Illinois will become an economic wasteland.”


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