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* Media advisory…
Illinois State Treasurer Michael Frerichs will stand with workers and employers who participate in Secure Choice, the innovative plan that created a mobile retirement savings account that travels with the worker.
Frerichs spearheaded the Secure Choice retirement savings program to combat the retirement savings crisis in Illinois and across the country. Illinois is a national leader in offering an auto‑enroll IRA program.
WHO: Illinois State Treasurer Michael Frerichs and Central Illinois workers and employers.
WHAT: Employees, employers and advocates will explain how Secure Choice works, how it combats the retirement savings crisis gripping the nation, and why it can save taxpayers money.
More than 100,000 workers and 6,400 employers participate in Secure Choice, with $82 million already saved.
WHEN: 10:30 a.m. on Monday, March 21, 2022.
WHERE: Capitol Blue Room in Springfield.
Chef Michael Higgins from Maldaner’s was one of the press conference participants and he talked about how he wishes he’d had something like this available when he was younger and about the benefits for his workers.
* About a half an hour before the press conference…
Republican State Representative Tom Demmer issued the following statement in advance of Treasurer Frerichs’ press conference on Illinois’ Secure Choice Retirement Program.
“Two years ago, Treasurer Frerichs joined with Governor Pritzker to support a radical tax increase plan on Illinois families. Frerichs even took the measure a step further by saying it could be ultimately used to tax retirement income—including pensions and 401ks—like Secure Choice. Thankfully voters rejected Frerichs’ call for taxing retirement income. However, with Frerichs continuously advocating for tax increases—even taxing retirement income—Illinois families and retirees have anything but secure choices for their hard-earned income and savings.”
In addition, over the last 8 years Frerichs has accepted over $275,000 from former indicted Speaker Michael Madigan’s run political action committees. To date, Frerichs has not returned any of these questionable contributions.
My first thought was that Demmer wants Frerichs to help pay Madigan’s legal expenses by refunding contributions.
* Frerichs was asked about both topics in his press conference. First up, taxing retirement income…
Q: Right around the time I sat down in this chair, I got an email from your opponent’s campaign saying ‘Retirement savings? Well, retirement income is just what Treasurer Frerichs wants to tax.’ What is it you want to do? And how are you going to drive away from this, I don’t know if you want to call it an albatross or some other sort of winged or assorted animal, is this going to continue?
A: This is only gonna continue because my opponent continues to talk about something that’s not an issue. I have stated clearly, time and time again in front of the media that I don’t support a retirement tax, I’ve proposed no retirement tax, I’m not going to propose any sort of retirement tax. My opponent keeps talking about this because he doesn’t want to talk about the real issues of retirement. His numerous votes to reduce retirement benefits. His vote against creation of Illinois Secure Choice, something that’s going to give people a better retirement.
* Madigan…
Q: Your opponent also in the email he sent out before your news conference talked about 275,000 you got from Madigan-linked political campaign funds. Do you just plan on giving that back somehow? What’s your reaction to this?
A: My opponent’s not reached out, I’ve not seen this. I don’t know what he’s referring to or how many [crosstalk, restating the question]
A: I think the justice system is working right now. Indictments have been filed. There’ll be a trial. And I think that we need to do, especially root out corruption in the state of Illinois. We need to have greater transparency and greater ethics to make sure that we don’t have corruption in our state.
Q: What about the campaign funds that you may have gotten from DPI under Madigan’s control? What should happen with those dollars?
A: I’m not aware of the funds he’s talking about.
* ILGOP press release after the press conference…
Illinois Treasurer Mike Frerichs was a deer in headlights today when asked if he would return over $275,000 in tainted campaign contributions from the former Madigan-run Democratic Party of Illinois over his tenure, claiming he now doesn’t recall one of his largest campaign donors.
Frerichs said he was unclear what the sources of campaign cash were, so let’s look at the most recent Madigan contributions to Frerichs’ campaigns for Treasurer:
• On October 17, 2014 Frerichs reported $38,712.96 from Madigan’s DPI Committee.
• On October 24, 2014 Frerichs reported $37,363.40 from Madigan’s DPI Committee.
• On October 27, 2014 Frerichs reported $73,632.24 from Madigan’s DPI Committee
• On November 24, 2014 Frerichs reported $40,000 from Madigan’s DPI Committee
• On October 31, 2018 Frerichs reported $55,400 from Madigan’s DPI Committee
• On November 15, 2018 Frerichs reported $30,000 from Madigan’s DPI Committee.During his 15 years in Springfield, Frerichs has accepted over $275,000 in contributions from former indicted Speaker Michael Madigan’s run political action committees. To date, Frerichs has not returned any of these questionable contributions.
“It’s incredibly clear that Mike Frerichs has a Mike Madigan problem. Madigan was one of Frerichs’ largest donors in his campaigns for Treasurer, but now Frerichs says he doesn’t remember those contributions. Unbelievable, but true,” said Shaun McCabe, Executive Director of the ILGOP. “Frerichs needs to own up to his past support for and from Madigan and tell taxpayers what he intends to do with the over quarter of a million dollars in tainted contributions.”
DPI contributions are often pass-throughs from other sources so the candidates can obtain postage discounts. More than half of the above-mentioned DPI contributions were in-kinds for mailers.
…Adding… From Rep. Stephanie Kifowit (D-Oswego)…
My son who is in the Navy currently participates in an auto enroll type IRA. He has quite the nest egg already at 20 years old. I wish the military would have had that when I was in.
…Adding… Frerichs press release…
The innovative plan to create a mobile retirement savings account that travels with the worker topped the 100,000 enrollment milestone, Illinois State Treasurer Michael Frerichs said today.
Frerichs set up the Secure Choice retirement savings program to combat the retirement savings crisis in Illinois and across the country. Illinois is a national leader in offering an auto enroll IRA program. Workers in Illinois began saving in July, 2018.
“A retirement savings tool that can travel from job-to-job with the worker makes it easier to save, allows a worker to retire with dignity, and saves taxpayer money by reducing the need for publicly funded safety net programs,” Frerichs said.
Today, more than 100,000 workers and 6,400 employers participate in Secure Choice, with $82 million already saved. None of this was possible without Secure Choice. The 100,000 milestone was surpassed in the first quarter of this year.
“I chose to enroll in Illinois Secure Choice to increase my retirement options,” said Sam Hall, a father of three children who works as the program director for DREAAM in Champaign, the Rantoul Division, a social services organization helping boys and young men between the ages of 5 and 24. “The enrollment process was easy, and I feel more secure knowing I have a plan for retirement.”
DREAAM stands for Driven to Reach Excellence and Academic Achievement for Males. Tracy D. Dace is the Founder. “As a CEO, I was impressed with the ongoing support from the Illinois Secure Choice team to establish an account, enroll employees, and manage the administration of the deductions,” Dace said. “The built-in support indicated a commitment to excellent customer service and overall program quality.”
The General Assembly required employers to either offer a retirement savings plan or participate in Secure Choice, which is overseen by a seven-person board chaired by Frerichs. Secure Choice investments are managed by a private-sector financial services firm and kept in a trust outside of state government and its finances.
Key to passing legislation that created Secure Choice was the assurance that employers would not be financially liable for plan administration and would not be legally liable for investment changes. Employees can opt-out of the program at any time.
“I supported the expansion of Secure Choice as a state legislators because we need to be able to do more for our workers and small businesses,” said Mike Murphy, a former Republican lawmaker from Springfield and current President and CEO of the Greater Springfield Chamber of Commerce.
Enrollment began in 2018 with companies at least two years old and with 500 or more employees. Smaller companies enrolled in phases thereafter to ensure a smooth transition. The success was so strong that most business groups initially neutral or opposed to Secure Choice did not oppose the legislation passed by the General Assembly in 2021 to expand the program. That legislation requires employers with at least five employees to provide a retirement vehicle, or access to Secure Choice, by November, 2023.
The access is critical:
• Nearly half of all working-age families have nothing saved for retirement.
• Although Social Security is not intended to be the sole source of retirement income, 23 percent of Illinois retirees rely on Social Security for at least 90 percent of their retirement income.
• Workers are 15 times more likely to save for retirement if they can do so at work.
• However, 40 percent of Illinois private-sector employees work for a business that does not offer a retirement savings plan.About Illinois Secure Choice
Illinois Secure Choice is managed by Ascensus, a private-sector financial services firm responsible for all recordkeeping and day-to-day aspects. Fund options include BlackRock, Charles Schwab, and State Street Global Advisors. Participants are enrolled in a default target-date Roth IRA with a five percent contribution rate. Participants can choose to change their contribution level or fund option at any time. More information can be found at www.ilsecurechoice.com.
posted by Rich Miller
Monday, Mar 21, 22 @ 12:57 pm
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Over/Under 275,000 comments from Oswego Willy under this post about how much he likes Frerichs.
/s
Comment by Almost the Weekend Monday, Mar 21, 22 @ 1:08 pm
=== This is only gonna continue because my opponent continues to talk about something that’s not an issue.===
It’s an issue Frerichs doesn’t want to talk about, as in his own words, Frerichs wants to talk about taxing retirement income.
Mike Frerichs stands tall for a discussion to taxing retirement income, unless Mike Frerichs forgot what he exactly said.
This is pathetic and wholly untrue;
===I have stated clearly, time and time again in front of the media that I don’t support a retirement tax, I’ve proposed no retirement tax, I’m not going to propose any sort of retirement tax.===
I’d want to pretend too, not wanting to talk about taxing retirement income, if I were Frerichs, Frerichs is dangerous to Illinois seniors, but to pretend it never happened AND say he has “time and again” told the media…
… friend, you canceled a press availability on it, you knew you were gonna Rutherford yourself.
You know what you said, what you meant, either you were misleading IPI to be embraced by them, or you are misleading Illinois seniors making it dangerous for them while wanting to discuss taxing retirement income.
You hid.
You knew you had to hide.
Comment by Oswego Willy Monday, Mar 21, 22 @ 1:14 pm
Illinois is a politically fascinating place. We’re encouraged to pretend like corruption that occurred before a certain unspecified date was folksy and cute and to downplay illegal schemes by politicians as just being “smart politics” while simultaneously being required to pretend that taxing at least some federally taxed retirement isn’t a good our sound tax policy because of it being a political 3rd rail.
For it to be a political 3rd rail we have to ignore that by not taxing federally taxed retirement we have no income on low income seniors because they already have little or no federally taxed retirement in the first place. What’s a reasonable expectation? Placing a cap on it so people earning hundreds of thousands of dollars a year don’t get to write off 100% of their federally taxed retirement income.
We really need to expect journalists to handle this issue better. Demmer should really answer the question about why he prefers a tax policy that has literal millionaires paying no income tax to the state of Illinois because it’s from a federally taxed retirement source which comes at the expense of everything from k-12 funding to paying down our pension debt faster.
We need to stop letting Republicans roll out these boogieman policy positions every two years like they are anything other than reckless people who would burn our state to the ground to save a nickle and dip their hands into the coffers every chance they get. Their discussion of policy is disingenuous at best and inspired by not so thinly veiled racism and bigotry at worse.
Comment by Candy Dogood Monday, Mar 21, 22 @ 1:15 pm
How did Rep Demmer vote on Secure Choice when it was first introduced? I don’t believe many Republicans supported this good idea to help regular folks build retirement savings. I never understood why the Secure Choice program was so partisan initially. It’s very good retirement policy to help voters without pensions navigate the DIY retirement system we have created here in the United States for those in the private sector.
Comment by Jenny Monday, Mar 21, 22 @ 1:16 pm
IMO, retirement income should be taxed. looks like I will be boring for frerich.
Comment by Blue Dog Monday, Mar 21, 22 @ 1:19 pm
voting for..
Comment by Blue Dog Monday, Mar 21, 22 @ 1:20 pm
===I have stated clearly, time and time again in front of the media===
No. No you haven’t… and have no explanation why you won’t.
Remember?
From the Tribune…
===Ten minutes before he planned to speak at the downtown James R. Thompson Center, a Frerichs aide told reporters the event had been canceled. Asked for a reason, the aide offered none.===
No explanation? That’s not standing tall at all.
To remind the foggy-minded, yet tall, state treasurer…
=== “One thing a progressive tax would do is make clear you can have graduated rates when you are taxing retirement income,” he said. “And, I think that’s something that’s worth discussion.”===
It’s worth discussing. Seniors should fear Mike Frerichs, what else will he want to discuss… then pretend he said nothing of the sort? Can’t trust someone who can’t own their words.
Comment by Oswego Willy Monday, Mar 21, 22 @ 1:23 pm
OW: What could be clearer than “I don’t support a retirement tax, I’ve proposed no retirement tax, I’m not going to propose any sort of retirement tax”
Demmer’s a sharp guy but he hasn’t got much of his own to show for his time in the legislature. With his lack of accomplishments of course he’s on the attack. But there’s no there there. Frerich’s isn’t sitting still; he’s standing tall.
Comment by Socially DIstant Watcher Monday, Mar 21, 22 @ 1:27 pm
Hopefully Fredrichs will do a better job in this mandatory “option”than he has a Trustee of public employees pensions in Illinois where his ‘“leadership” and “vision” has resulted in one of the worst funded pension systems in the United States.
The best thing voters can do to correct the poor management of state pension systems is vote this fellow out so he can’t do anymore harm.
Comment by Back to the Future Monday, Mar 21, 22 @ 1:27 pm
This is a frustrating example of the dumbing down of Illinois finances.
We should encourage our elected leaders - especially the financial ones - to be honest about our taxes snd our policies.
Of course it is absurd that six figure pensions are tax free while the Wal Mart greeter senior citizen pays 5% starting with her February check.
Maybe Griffin is pulling investment returns as retirement income by now and likes a free ride.
Telling the truth about the almost $2B annual cost of the retirement income giveaway should be a sign of maturity and earn respect and accolades from civic leaders - and if simply acknowledging the fact that taxing retirement income above $100,000 makes a ton of sense - or even better, just noting that tax brackets could apply to retirement income — these should be acts that earn respect and votes.
Honesty in government finances is a good thing.
Comment by Dan Johnson Monday, Mar 21, 22 @ 1:37 pm
=== What could be clearer…===
Either Frerichs is an utter phony and can’t tell the truth, or Frerichs is dangerously purposeful in misleading what he says, and when he says it.
That’s it.
Seniors should fear a state treasurer who first tells you what he thinks, and then realizes that his truth hurts seniors so he misleads everyone, including the press, who he tells he’s been open, I mean, after canceling his presser and all.
Nope.
It is quite clear; Frerichs can’t be trusted and will say anything, if it means ducking that Frerichs stands tall to discuss taxing retirement income.
===Demmer should really answer the question about why he prefers a tax policy that has literal millionaires paying no income tax to the state of Illinois because it’s from a federally taxed retirement source===
“In Illinois, we want seniors to stay here, retire here, and not taxing retirement income is something that helps with keeping our seniors in Illinois. Mike Frerichs stands tall to discussing this taxing of our seniors, and that dangerous and Frerichs pretending he never says that is misleading, at best”
It’s a softball query that easily pivots to pummeling Frerichs.
Comment by Oswego Willy Monday, Mar 21, 22 @ 1:49 pm
OW: Once upon a time, Frerichs said he thought there should be a “discussion” about taxing retirement income. Now, Frerichs says he does not support taxing retirement income, won’t support taxing retirement income, and won’t propose taxing retirement income.
There’s no inconsistency between those two statements. While some might think it refreshing to see you supporting Republican candidates for office, this is a big nothing burger. It happens to be all Demmer has, but that doesn’t mean it amounts to much, and it certainly doesn’t mean he’s an “utter phony” or that “seniors should fear” him.
Comment by Socially DIstant Watcher Monday, Mar 21, 22 @ 1:57 pm
==Chef Michael Higgins from Maldaner’s was one of the press conference participants==
Higgins’ political career to this point has been highlighted by two consecutive aldermanic losses to Joe McMenamin in Springfield Ward 7 back in 2011 and 2015.
Comment by NonAFSCMEStateEmployeeFromChatham Monday, Mar 21, 22 @ 1:58 pm
=== Once upon a time… Now===
Let’s be very crystal clear.
You have Frerichs owning what he said… don’t you.
Yeah, Frerichs doesn’t own it. Not one word of it.
Either I can’t trust a single word Frerichs says, ever, because Frerichs shrinks at owning his own words, or Frierichs thinks he can “mislead” people to exactly what he said, prolly why Frerichs was afraid he was going to Rutherford himself and end his career… so they canceled the presser… because Frerichs realized what he said, and how wrong it was.
===this is a big nothing burger===
It was a major prong that sunk the Fair Tax.
It’s true, Frerichs wanted to discuss taxing retirement income. How can Illinois seniors trust Frerichs, well, voting down the Fair Tax as voters did, voters need to remember Mike Frerichs wants to discuss taxing retirement income.
What your first paragraph says… Frerichs won’t own that.
===he’s an “utter phony” or that “seniors should fear” him.===
How can Frerichs not be an utter phony, he won’t even acknowledge what he said, and that *is* dangerous for seniors, when you can’t trust Frerichs’ own words.
Comment by Oswego Willy Monday, Mar 21, 22 @ 2:05 pm
Blue Dog- it was reported last week that Illinois residents are the highest taxed people in the US when all taxes are thrown in. The retirement tax exemption is a big deal to retired folks already carrying a bigger burden then people in other states. If you want to increase the outflow of a Illinois taxpayers to new jurisdictions- go ahead and tax retirement income streams
Comment by Sue Monday, Mar 21, 22 @ 2:12 pm
Willie does push the Frerichs retirement tax meme as reliably as Old Faithful pops. And I guess it works at hurting Frerichs, but call me skeptical that there’s more than a meme underneath any of it. Tell me you never in your life had to walk back a single statement made in speculation.
The meme-dropping reminds me of the old joke that goes: “Do they call me McGregor the Bridge-Builder? No, but if you just -one- time…”
I mean, come on, debate the guy on the merits, on how well or not he’s done his job. Not on “gotchas” that don’t really point to a trend. That’s small ball stuff and you’re bigger than that.
Comment by Give Us Barabbas Monday, Mar 21, 22 @ 2:15 pm
===Higgins’ political career to this point has been highlighted by===
LEAVE CHEF MIKE ALONE
Comment by Rich Miller Monday, Mar 21, 22 @ 2:20 pm
=== debate the guy on the merits===
Ok, start with trust, and being honest to your word?
Frerichs fails that, miserably,
===Tell me you never in your life had to walk back a single statement made in speculation.===
The Fair Tax Flop can be traced to a part of Frerichs wanting to discuss taxing retirement income.
It’s not just damaging, Frerichs must know now even owning that he *said* it will sink him. It’s that bad.
Now it’s up to Demmer to get $7-10 million to remind Illinois, and especially Illinois seniors how dangerous that thinking is that Frerichs has.
Now, if Frerichs wants to run on the idea of taxing retirement income, I’d bet Demmer would let him.
Lastly…
===Not on “gotchas”===
It’s no gotcha, it’s what Frerichs believes. Frerichs said so.
If Frerichs wants to acknowledge he said so, I dunno how that helps now, given his backing out of that presser, knowing it’s more damaging to admit he said it.
We’ll see if Demmer backs off.
I can’t think of any good reason fir Demmer to do so.
Comment by Oswego Willy Monday, Mar 21, 22 @ 2:26 pm
Willy - you spent the entirety of the Rauner years unmercifully ripping Demmer. Please don’t tell us that you are going to deny all involved the Civil War that must be happening in your little mind with a Frerichs vs. Demmer statewide race.
“We have e the receipts” as you love to say.
Comment by Just Wow! Monday, Mar 21, 22 @ 2:41 pm
===you spent the entirety of the Rauner years unmercifully ripping Demmer.===
Maybe your beef is with Demmer and not me, as Demmer nominated me for a Golden Horseshoe… even… even as you say…
“you spent the entirety of the Rauner years unmercifully ripping Demmer.”
So I dunno, your take on this is as ridiculous as Frerichs shrinking to the words he (Frerichs) pretends he never said.
===Please don’t tell us that you are going to deny all involved the Civil War that must be happening in your little mind with a Frerichs vs. Demmer statewide race.===
“There are no permanent enemies, and no permanent friends, only permanent interests.”
You make it seem like Demmer and I are playing golf 3 days a week, lol.
I mean, how can I not “root” for the Griffin Slate… given Bailey, Rabine, Sullivan, and Schimpf are the other choices, all sink any chance of a two party existence in Illinois, which in reality is my own want, or the Trumpkins implode the GOP so there’s a wholesale “reset”
Good try, if I too had a 3rd grader idea about politics I’d probably be confused about me and Demmer and such.
I’ll ask Demmer about that next time we chat. (Which isn’t remotely happening)
Comment by Oswego Willy Monday, Mar 21, 22 @ 2:52 pm
Without a doubt, Frerichs played a part in sinking the Fair Tax. Without a doubt, he floated the opportunity to discuss taxing the retirement income of the extreme rich.
Without a doubt, he’s learned to stay clear of all that.
I think he’s learned- and I’m okay with his current statements.
Comment by Lincoln Lad Monday, Mar 21, 22 @ 3:01 pm
So the hit against Frerichs is that he said he would be open to having a discussion on pension taxes? He didn’t propose it; he didn’t support it; he didn’t even say he agrees with it? All he said was that he was willing to talk about it? Isn’t that what we expect leaders to do–to consider policy options? Isn’t that what grownups do? Politics has always been, at least, a little silly, but when did it get to be so infantile?
Comment by duck duck goose Monday, Mar 21, 22 @ 3:50 pm
=== All he said was that he was willing to talk about it?===
Frerichs won’t even say he say that now
It’s the third rail,
===Isn’t that what we expect leaders to do–to consider policy options?===
I’m guessing Demmer would be super-excited if Frerichs would say that.
I’m speculating, but that canceled presser… Frerichs was going to say something like that… but someone tackled him before he Rutherford-ed himself with that.
=== Politics has always been, at least, a little silly, but when did it get to be so infantile?===
Then your beef is with… Frerichs?
Ok, let’s ask Frerichs to embrace it, really lean into it, let the infants go after him for it.
Dunno if that’s a winner come Election Day…
Comment by Oswego Willy Monday, Mar 21, 22 @ 3:56 pm
Confused, OW. Almost every article that comes up in a simple google search has Frerichs on record all over the place saying he is opposed to taxing retirement income. There are dozens.
The amendment wasn’t passed anyway, and Frerichs seems to be doing well in office by every metric you can think of. Aren’t we commenting on a post originally about how successful his retirement savings program is after all? What actual action has he taken that is “dangerous to seniors?”
Comment by Longtime Lurker Monday, Mar 21, 22 @ 3:59 pm
He was happy to “talk” about taxes on seniors and retired folks, but he did not raise the issue of a tax system that lets the Trumps and Pritzker’s of the country avoid paying taxes.
The fellow is playing for the wrong team.
Comment by Back to the Future Monday, Mar 21, 22 @ 4:03 pm
===Almost every article that comes up in a simple google search has Frerichs on record all over the place saying he is opposed to taxing retirement income. There are dozens.===
It’s up to Demmer to educate, not me, not even Google.
It’s odd that in your dozens of finds, Frerichs seemly isn’t stating that he is for a discussion of taxing retirement income… and yet… when it mattered in a campaign and voters are educated on Frerichs, it helped sink the Fair Tax, it was a chosen foil by the winning side, and was used well.
Voters who are reminded in ads aren’t likely looking at Google.
===Aren’t we commenting on a post originally about how successful his retirement savings program is after all?===
The sheer irony of this program when the person who is taking credit is the same person hiding and misleading his own history to tax retirement income. It’s almost something The Onion would find ironically silly.
It also highlights how can seniors trust Frerichs when it comes to retirement income… it’s a dangerous thing, trusting Frerichs, a program here, a want there?
Comment by Oswego Willy Monday, Mar 21, 22 @ 4:11 pm
Ron Guenther, retired Athletic Director at the U of I, Champaign: taxpayer funded pension - $500,000 per year.
But no, how dare you tax that.
Comment by filmmaker prof Monday, Mar 21, 22 @ 4:12 pm
This is a very exciting issue because at some point the majority of the people in the legislature in this state will be from the generations that were forced to pay tens of thousands of dollars in tuition that their parents generation didn’t have to pay in order to attend the same schools and graduate with the same degrees because the public decided that they should be on the hook for it and a legislature made up of those economic bag holders is going to end at least part of exemption of federally taxed retirement income from Illinois income tax because you all need to help pay for the public pension debt on services you received with out paying the total cost for and the sooner we do this the more equitable it will be for everyone.
There’s a lot of effort going into defending people who have more income and more wealth than the typical commenter here writing of hundreds of thousands of dollars in federally taxed retirement income.
Comment by Candy Dogood Monday, Mar 21, 22 @ 4:36 pm
Sue. The term retirement income is b.s. that’s my opposition to it. Some folks retirement is rental property or farm income. Taxed they are indeed. Just not fair.
Comment by Blue Dog Monday, Mar 21, 22 @ 4:38 pm
==LEAVE CHEF MIKE ALONE==
Still, you have to admit that it was embarassing for the Chef to lose twice to one of the members of the Mount Rushmore of Worst Ever Springfield Alderpeople. Alongside Hanauer and Redpath. With Cahnman as the emeritus pick for the fourth person for that inglorious “honor.”
Comment by NonAFSCMEStateEmployeeFromChatham Monday, Mar 21, 22 @ 4:46 pm
- Dan Johnson - Monday, Mar 21, 22 @ 1:37 pm:
=Of course it is absurd that six figure pensions are tax free
Is that the limit over which you would tax? Or would it be lower.? If so, how much lower?
Too many times the ‘millionaire’ label is thrown around and then it mutates into something far, far lower.
Comment by Unconventional wisdom Monday, Mar 21, 22 @ 5:28 pm
===Is that the limit over which you would tax? Or would it be lower.? If so, how much lower?
Too many times the ‘millionaire’ label is thrown around and then it mutates into something far, far lower===
You’re coming at this with a fallacy. If you’re in favor of taxing some federally taxed retirement you should say so and what limitations you want. More than half of the expense of this tax policy goes to households making more than the median income of the state. So, why defend people running out on their bills while sticking the working class with the pension debt for services they didn’t receive and paying for the public services retirees still rely on?
How many well to do free loaders would you like to ask the workers or Illinois to support? The cost of not taxing retirement income comes from somewhere and right now it’s my pocket paying for the debt run up to provide public services for people not paying taxes right now from before I was born and that doesn’t sit well with me, especially as they whine and complain about the fiscal health of the state or refuse to support a progressive income tax because they’re greedy little pigs
Comment by Candy Dogood Monday, Mar 21, 22 @ 6:52 pm