Posted on 09/22/2019 7:53:21 AM PDT by DUMBGRUNT
On Tuesday, the East St. Louis’ firefighter pension fund demanded that Illinois Comptroller Susana Mendoza intercept more than $2.2 million of East St. Louis city revenues so they could be diverted to the pension fund.
The fund trustees said the city shorted firefighter pensions by $880,000 in 2017 and another $1.3 million in 2018. Under a 2011 pension law, the state comptroller gained the powers to intercept city revenues on behalf of police and fire pension funds shorted by their municipalities.
(Excerpt) Read more at moneymaven.io ...
Same here in Crook County. Actually moved to the other side of the county line from Will because the taxes there were so bad!! At least in downsizing I cut my tax bill by 50%. I'd sure hate to be the people who bought my old home in Homer Glen right about now. Taxes went up over $11k/yr after the sale. Ouch.
I never have. Maybe that's why I'm a multimillionaire who retired at age 53.
I worked my way through 13 years of college--stretched an inheritance of $2,000 to cover it all and pay for 4 years of college for my wife. We slept on a box spring resting on concrete blocks--ate on a card table--cooked on a hotplate--couldn't afford a magazine to say nothing of a movie. I had my first job at age 14 selling shoes--worked construction--did whatever I had to do within the bounds of honesty, honor, and the law.
(BTW--I also established a college scholarship to educate those who could not afford college. I have no idea how many people I educated, though I do have a few thank-you notes from some.)
Democrats and other fools who live beyond their means and encourage others to do so, do a serious disservice to America and the American People. Their lack of concern about this speaks volumes about their basic immorality.
Hell, even the so-called "reformer" lesbian that now runs Shitcago is even saying she won't touch the pensions because she knows better: the unions will turn against her.
There are really only two ways this scenario ends as I see it:
1. Enough people leave this state that there's no one left to tax the living sh*t out of;
2. By some miracle the voters in this state finally wise up and vote all these tax-and-spend Democrats out of office.
There is a third way which involves Madigan stops breathing and Pritzker has a heart attack which given how fat that POS it it's possible I suppose..... as long as he lands on Madigan and crushes him first.
> “My house burned down and the fire department didn’t even bother showing up!”
Well, the firefighters went home safe to their families. That’s most important.
Even more interesting is how many of these pensioners have abandoned Illinois to move where there ARE governmental services.
the taxpayers are well and truly stuck.
YES!
Blued, screwed and tattooed!!!
I think one big reason why the Dems are so hysterical about Trump is because they know the pension Ponzi scheme is going to collapse soon, and they will need a federal bailout.
Makes sense, till they have to cut pensions to fund services.
Our great and glorious state of Ilinois constitution says government employee pensions cannot be cut.
“The Illinois Constitution states that “membership in any pension or retirement system of the State, any unit of local government or school district, or any agency or instrumentality thereof, shall be an enforceable contractual relationship, the benefits of which shall not be diminished or impaired.”
Too bad. The workers did the time. City needs to keep the promises. This will change once the baby boomers are dead. Nobody has pensions like the baby boomers anymore. This generation had it made in the shade.
I’d sure hate to be the people who bought my old home in Homer Glen right about now.
PLS say it ain’t so!!!
Our son purchased a home in Hommer glen five years ago!!
East St. Louis city the mid west branch of Los Angeles.
Their lack of concern about this speaks volumes about their basic immorality.
Yes but the retaim ‘power’!
If you are like the early retire I know, there is no moss growing under your feet.
Footnote to Constitution:
This cannot be changed unless the state of Illinois is ended.
Then you are all out of luck!
the so-called “reformer”...
A strong rumor and ok(?) case is being made that Chicago may attempt bankruptcy???
May also be flack to drive the taxes higher still?
“Swirling around and down here in DuPage county.”
Yep. Almost $7,000.00 a year on a 1,200 square foot cracker box.
Insanity.
L
You betcha! I have never been so busy! Every evening I wonder at all that I didn't have time to do that day. My wife's the same! So are my children!
The first thing I did upon retiring was enroll in college again as a full time student. I worked as hard as ever and made straight A's.
The momentum I had established kept me ploughing through everything.
I learned that I love to study (the first time around it was a chore)--and all the momentum makes it easy and fun.
I can't begin to list all the things I've done.
There is nothing more fun than working hard at something you love to do. I love to study and learn.
I've taught my children this. They are all busy.
People who deprive children of learning this abuse them terribly.
Everyone should learn the power and joy of working hard and learning.
President Trump's children all work hard, despite being the children of a multibillionaire! That speaks volumes! That's one thing--of many--that the wants to give to America--and will if the degenerate morons who have allowed themselves to succumb to the decadence of Western Civilization don't get in his way.
But first, the State will cannibalize the taxpayers. Then they will pickup the pace with asset seizures for unpaid taxes. They soon will reach levels where even this does not provide enough revenue to continue operations. Tens of thousands of people will have been bankrupted or be facing imminent bankruptcy. Urgent demands for Federal bailouts will be denied.
Voters will not fix this. Too many of them are public employees, and public employees count the votes. The politicians can and will run it all down to zero.
Then things will grind to a halt.
Your suggestion that a few Illinois politicians may stop breathing is a pretty good bet for how the crisis will be resolved.
The workers did the time.
Many did the time, more than a few did not.
Chi Trib ran a series about public pension abuse for a year showing how the connected cash in on the system.
A union lobbyist who qualified for a teacher pension windfall by subbing at a school for one day is now suing a state retirement board because his benefits were scaled back once his sweet deal was exposed.
One day of teaching in Springfield qualified them for pensions based on all the years they spent as employees of the union.
The last annual salary Piccioli received as a state employee was $46,000 in December 1997, according to Blair. But because of the way Illinois law is written, his state pension is based on the same salaries used when he entered the teacher pension system — the higher pay he drew as a union lobbyist.
, the Tribune estimated based on the system’s formula. That would push his total public pension benefits above $97,000 a year.
https://www.chicagotribune.com/news/ct-pension-lawsuit-lobbyist-met-20150318-story.html
The Illinois law forbidding municipalities from bankruptcy filings is going to be tested in the Federal courts and tossed out. No State can forbid access to the Courts.
Then it’s Katy bar the door.
L
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.