Chicago Property Taxes May Double to Pay for Pensions

Discussion in 'Political Issues' started by callihan_44, Mar 13, 2014.

  1. callihan_44

    callihan_44 INFIDEL

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    Illinois has one of the worst pension messes in the nation as the cost of government employee benefits is sending state, county, and local governments into bankruptcy crises all across the state. No place has more trouble than Chicago, prompting Mayor Rahm Emanuel to warn that property taxes will have to double to serve that spiraling debt

    http://www.breitbart.com/Big-Govern...roperty-Taxes-to-Fund-Spiraling-Pension-Costs

    screw that, I say quadruple them...these people deserve to pay when they elect democrats time and time again who create these messes
     
  2. pugman

    pugman

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    This is nothing new for IL and extends far beyond Chicago.

    I work for the largest private insurance company in the country. Several years ago we started hearing about this through the state programs.

    http://www.news-gazette.com/news/lo...means-more-state-employees-may-pay-front.html (sorry you can't read this article without a subscription...but you get the idea)

    http://illinoisissues.uis.edu/archives/2010/03/unpaid.html

    In short, many providers for state workers and medicaid were waiting up to a year to be reimbursed by the state because IL simply didn't have the money.

    Many dentists were waiting 6 months or more (as I recall the average reimbursement took 183 days).

    There was a rumor IL would institute a 0/net 365 policy on all its medical reimbursements.

    IL is a toilet which needs to be flushed.
     

  3. DonGlock26

    DonGlock26

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    It's a solid Blue state. Bankruptcy is inevitable. They are racing California for the title of first bankrupt state in the nation's history.

     
  4. aircarver

    aircarver Descent Terminated Silver Member

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    Sure. Like everybody can afford to have their taxes doubled so those slugs can spend whatever they want .... :upeyes:

    Oh wait ! We just double the taxes on those already paying for everything ... they're already a voting minority ... :steamed:

    .
     
  5. volsbear

    volsbear IWannaBeSedated Lifetime Member

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    Wrong.

    In 2010 the Republican candidate for governor, Bill Brady, took almost 100 of the 102 Illinois counties. The state is certainly not blue. The problem is Chicago and the money that goes in and out of that city and into the hands of Chicago-area democrats.

    Hell, most of the downstate democrats are more conservative than the republican members of congress. It was, after all, the downstate democrats that did most of the fighting on the floor of the general assembly over concealed carry. It sure as hell wasn't suburban Chicago republicans who were too scared to speak their minds.

    I'd invite any critics of the Illinois pension system to read more than what the MSM is telling you. Politicians of both parties in Illinois are feeding you hog wash about how public employee unions are to blame for the state's financial woes. That's simply not the truth. The truth is far more correlated with the fact that Illinois and Chicago have not chipped in their share of retirement for quite some time. The even bigger problem is that the Illinois General Assembly has literally been stealing from the state employees' pension program as well as the teachers' pension program for more than 20 years. They've been passing bills to borrow from these programs with language built in to repay the loans with interest, but then never appropriating the money.

    As an illustration, there is ONE public employee retirement program (IMRF) that is insulated from the general assembly's sticky fingers. The IMRF is over 95% funded. Even in the worst of the financial crash, the fund never dropped below 75% funded. But other programs are horribly funded. One such fund is the judicial retirement program that is funded at around 15%. The problem isn't unions. The problem is politics.

    I've always ALWAYS been welcome to having a dialogue about fixing public pension programs as we move forward. But to swallow the MSM's line about the issues being 100% attributed to public unions is nothing more than a child's lie.
     
  6. DonGlock26

    DonGlock26

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    So, Bill Brady won?

    I never absolved gov't leaders from this mess.

    Speaking of the Illinois General Assembly:


    How did that happen????? 2010 was a Democrat bloodbath at the state level.


    When it comes to gov't bankruptcy the safe bet is to blame the Democrat party. They are on a mission to drive the nation into bankruptcy.
     
    Last edited: Mar 13, 2014
  7. jeanderson

    jeanderson Making America great again! Platinum Member

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    Let Illinois pay for the deeds of slimy politicians they elected who made unrealistic promises to union bosses. Those politicians absolutely knew this would be a big problem in the future. Guess what? The future is now!!!

    Sorry to anyone in this forum from Illinois, but I don't give a crap. Just don't go crying to Uncle Sam for a bailout. The Federal Government is broke and you ain't getting my tax dollars!!!!
     
  8. walt cowan

    walt cowan

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    marylands governor just raided the state pension system for 30 million.
     
  9. evlbruce

    evlbruce

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    Sounds like a systemic problem; government can't help but spend whatever funds it's set aside. The only solution is to get the state out the retirement business.
     
  10. volsbear

    volsbear IWannaBeSedated Lifetime Member

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    I absolutely agree. What I take issue with is "blaming" the rank and file union membership. Blame their leaders, blame the politicians, but some of the language about people playing within a system they are MADE to play in are worthless.

    When I took my job, I asked if I could opt out of IMRF. I can't.
     
  11. jeanderson

    jeanderson Making America great again! Platinum Member

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    Interesting. Maryland doesn't even make it into the worst 9 states (2012 figures):

    1. Illinois: Pct. liability funded: 45%

    2. Rhode Island: Pct. liability funded: 49%

    3. Connecticut: Pct. liability funded: 53%

    4. Kentucky: Pct. liability funded: 54%

    5. Louisiana: Pct. liability funded: 56%

    6. Oklahoma: Pct. liability funded: 56%

    7. West Virginia: Pct. liability funded: 58%

    8. New Hampshire: Pct. liability funded: 59%

    9. Alaska: Pct. liability funded: 60%
     
  12. rj1939

    rj1939

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    Unfortunately ****cago will not take all the hit, they will do what all progressives do: Privatize any wealth and socialize ALL debt...............all Illinois will be paying for their debt...........better yet, maybe the whole country.


    A vote for Rahmbo will help make it happen..............how any clown from ****cago can get a smell in an election amazes me.
     
  13. jeanderson

    jeanderson Making America great again! Platinum Member

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  14. RenegadeGlocker

    RenegadeGlocker SuperOwner

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    Lots of Blue states have Republican Governors. New Jersey for example, Mass when Romey was Governor, New York under Pataki, California under Arnold.

    Governor is not the litmus test for a red/blue state.
     
    Last edited: Mar 13, 2014
  15. Glocksanity

    Glocksanity

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    Actually, that is the formula for the Federal Reserve Banking system.

    Now do you see the problem? It starts with the Fed and bleeds into everything.
     
  16. SJ 40

    SJ 40 Deplorable,Clinger

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    Hey why not they are broke,perhaps Rham can print billions of Schitcago bucks.
    Schitago the next Detoilet. SJ 40
     
  17. walt cowan

    walt cowan

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    keep in mind that maryland has a history of not being truthful on it's operations.
     
  18. pugman

    pugman

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    +1...but I still fixed it for you.

    Wow. For once Wisconsin getting called out is a good thing. We STILL need to get out of the retirement business.
     
  19. cajun_chooter

    cajun_chooter

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    not to worry.. b.o. will pour millions into Chicago so the dumbocraps can steal it... AGAIN ...