No surprise that Illinois’ Tier 2 pension law being challenged in court given how it was passed – Wirepoints Quickpoint
The law was bulldozed through in 2010 by House Speaker Michael Madigan and Senate President John Cullerton in less than 12 hours with no analysis, debate or actuarial assessment.
“Wealthy Illinois residents could see taxes spike” … or they could move out of state and see taxes lower. Let’s see, if I’m wealthy, which situation would be better?
With all of these crazy proposals to gouge the IL taxpayer, you’d think that the IL pols think moving out of state isn’t an option.
I don’t get it.
“Cembalest said the state would have to either increase tax revenues by 25 percent, increase public sector worker contributions by 689 percent or achieve an annual investment return equal to 11.5 percent” Why only focus on one? With all three, Illinois could be a liberal utopia! The state could pay for mobile abortion clinics to just roll up into neighborhoods with a bullhorn that shouts “abortions, abortions, abortion for free, abortions for everyone!” We could have marijuana dispensaries from vending machines in gas stations and public restrooms. My newest idea is the ‘homeless’ tax. Everyone has to take a homeless… Read more »