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Thread: For the Illini amongst us

  1. #1
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    For the Illini amongst us

    The other day the Chitcago fed revealed its proposal to save the unfunded mandate known as state pensions.





    They propose at least a one percent increase in property taxes for 30 years.




    Watch for this disease to spread to other underwater states like Michigan, NY, CA, etc.
    “The two enemies of the people are criminals and government, so let us tie the second down with the chains of the Constitution so the second will not become the legalized version of the first.”
    -Thomas Jefferson

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    I read about that. I did not promise those people anything the state mishandled funds!!!!!
    But Springfield is trying to cover their ass.

    Here is another example. https://www.spartareport.com/2018/05...ing-employees/
    Last edited by l921428x; 05-15-2018 at 01:22 AM.
    While no one ever listens to me,
    I am constantly being told to be quiet.

    In a world of snowflakes,
    be the heat..

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    They're going to have to reduce pension payouts and do some serious investing of all new pension contributions to be able to keep pensions alive even with the taxation without representation. They're predicated, ;last i heard, on 11 percent return to be able to fund existing pensions at their current rates. Pretty sure anything even remotely near 11 percent return is only going to happen in the most riskiest of portfolios, wich is exactly how they got themselves into this crisis in the first place.
    “The two enemies of the people are criminals and government, so let us tie the second down with the chains of the Constitution so the second will not become the legalized version of the first.”
    -Thomas Jefferson

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    See how hard it will to sell your house, I'd get out will you still have a chance.

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    Senior Member JTHunter's Avatar

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    "Crash & Burn".

    If my house won't sell when I get out of this cesspool of a state, I may just abandon the property and let the county seize it for back taxes and let THEM try to sell it !!
    “I have little patience with people who take the Bill of Rights for granted. The Bill of Rights, contained in the first ten amendments to the Constitution, is every American’s guarantee of freedom.” - - President Harry S. Truman, “Years of Trial and Hope”

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    Senior Member whiskeyman's Avatar

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    Quote Originally Posted by JTHunter View Post
    "Crash & Burn".

    If my house won't sell when I get out of this cesspool of a state, I may just abandon the property and let the county seize it for back taxes and let THEM try to sell it !!
    Check into donating it to charity. Get a big tax write off.

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    Quote Originally Posted by blacksheep View Post
    See how hard it will to sell your house, I'd get out will you still have a chance.
    The problem is most of the country will say hey that's a great idea and thus there will be no escape from it. One again the taxpayer bails out big money for their losses, but never gains anything when big money makes a profit.
    “The two enemies of the people are criminals and government, so let us tie the second down with the chains of the Constitution so the second will not become the legalized version of the first.”
    -Thomas Jefferson

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    Senior Member JTHunter's Avatar

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    Quote Originally Posted by whiskeyman View Post
    Check into donating it to charity. Get a big tax write off.
    Nice idea but I don't make enough in retirement to itemize.
    “I have little patience with people who take the Bill of Rights for granted. The Bill of Rights, contained in the first ten amendments to the Constitution, is every American’s guarantee of freedom.” - - President Harry S. Truman, “Years of Trial and Hope”

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    Senior Member whiskeyman's Avatar

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    Quote Originally Posted by JTHunter View Post
    Nice idea but I don't make enough in retirement to itemize.
    If I recall correctly there is a one time deduction option.

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