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 ...
The City isn't going to keep any promises.
The politicians who made those promises are all long dead and beyond retribution. The "promises" were a Ponzi scheme and the bill comes due in this generation. The voters who accepted those "promises" had their eyes wide shut.
"Tell me lies, tell me sweet little lies".
The ones who cashed out early got away clean with their swag. The ones who stayed too late at the party are going to be out of luck.
You betcha! I have never been so busy!
A friend started a business mid 80’s, I took a pass on being a partner, but did work for him.
He started every morning at O-dark thirty AM and attempted to leave at 5 PM. Many years no vacation. In fact a few years I took home more than he did.
They did 36M last year, so he’s doing ok now.
He retired last year to build a house! He’s the general contractor and does all the scutt work. Never stops!
State can forbid access to the Courts.
See#34
Heard anything?
If he's complaining about his property tax bill there, well .. it's Homer Glen so Will County treats it like a big wallet and keeps raising taxes.
State can forbid access to the Courts.
Id like to see case law on that. Im certain the Federal courts would take a very dim view of such a State law.
Heard anything?
An article in Crains sometime in the last two weeks or so advocating this very course of action. Found it at SecondCityCop of all places. Im sure its being discussed very, very quietly in more than one City Hall around the State.
Chapter 9s have already been filed by a few California entities and the pension plans tossed. I dont see how the Illinois legislature can stop it, law or no law.
If you know of some Federal case law on it Id love to see it.
L
The municipalities can disincorporate and dissolve. Then there is no one on the debtor side of the contract.
Downsized from my 3,400sf home in Homer Glen (Will County) last May. My last property tax bill there was just over $9k.
Out of idle curiosity I looked it up when I was paying my bill for my 2,400sf townhome back in Crook County.
I honestly feel bad for the new owners of my old home. Homer Township Assessor jerked the bill up to just over $11.5k.
Honest to God, I don't think I could've stopped myself from driving a tank over the Assessor's office with the Assessor in it if I'd have gotten that bill.
Here in Crook County, my property tax bill is just over $4,200 for my townhome. I tried like hell to find someplace cheaper that I liked and this was the best deal I could find for something reasonably sized and met my requirements.
Next step is out of Illinois at this point. Just finished the remodeling of this place (all the updates) and am going to list it soon. I'm interviewing in South Carolina and Tennessee (preference: Tennessee.)
I won't make the money I make here, I won't need it though with the lower taxes and lower cost of living elsewhere!
I won’t make the money I make here, I won’t need it though with the lower taxes and lower cost of living elsewhere!
We have some friends who moved from Wheaton to the DFW area at the end of last year. Same jobs, same company, same salaries. They told us it was like getting a $35k raise between them.
They bought a five bedroom house on about an acre. Set them back right around $200k. They had enough left over from the Wheaton sale to put a huge pool in the yard.
No income tax, property taxes half of Illinois, a huge financial bump just crossing the State line. We plan to follow them as soon as humanly possible.
L
I can’t believe Illinois is going to beat California to State Bankruptcy, I’m sure Wonder Boy Newsome is scheming right now to catch up.
And then they'll blame the utility company when shit breaks bad!
If you know of some Federal case law on it Id love to see it.
ME?
Case law?
I have difficulty with traffic laws in large print posted next to the roadway!
I want govt employees and retirees to live in the filth they created....but they don’t ...they move to conservative well run areas.....
look, judge just basically gave the average teacher in this state a 16% raise....the rats reward their people.....which is why I think Idaho is our next destination..
One just cannot beat a Democrat run state or cities
Great article at the link. I read Gibbon long ago and remember little.
The wonder isn’t that Imperial Rome fell, but rather that it lasted so long.
The same goes for the US. James Madison predicted a new Constitution around 1930, presumably to accommodate one that tended toward the monarchical form. We got FDR in 1932, the closest prez to a monarch outside, perhaps, of Bammy.
As with Rome, the wonder is our longevity despite decades of open corruption.
And not only does such joy continue until the end of this life, but it continues with even greater passion in the life to come!
Ever hear the public service unions ever consider the fact they are destroying cities and towns? Ever hear a public servant say he realizes the damage their demands are causing?
Used to think very highly of cops and firemen. Now - not so much.
All taxes go to pay the fat pensions first. Anything left over they will consider spending it on road repair but more likely on crooked deals that benefit them and the people who bribe them.
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