Why shouldn’t Illinois tax retirement income?
today at 1:20 am
“Leading” senior citizen groups are upset because opponents of Gov. J.B. Pritzker’s graduated income tax shakedown are suggesting that it could lead to an Illinois tax on retirement income.
Older people will get confused, the groups say. But this is one older person who sees clearly that, indeed, the graduated income tax, while not making a tax on retirement income inevitable, sure makes it easier.
Once a graduated income tax is in place, calling for a tax on “rich” seniors will be a lot easier than imposing the existing flat tax on all seniors, including seniors who are living off meager pensions or social security.
And why not?
Illinois is one of only three states that doesn’t tax retirement income. It’s especially gratifying for unionized Illinois government workers, whose retirement income eclipses more modest private sector workers.
Democratic politicians here see additional “revenues” (i.e. taxes) as a major solution to Illinois catastrophic budget crisis. That they won’t touch one of the most obvious sources of additional revenue reveals a truth about them: Cowards.
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