There's that word again. Work your butt off for 35-40 years, build up a nice nest egg and then...BAM!
Taxing the Elderly...because it's not their money after all is it? /s
I HATE Illinois DemoRats, so glad I don't live in that cesspool any longer...
Garde la Foi, mes amis! Nous nous sommes les sauveurs de la République! Maintenant et Toujours!
(Keep the Faith, my friends! We are the saviors of the Republic! Now and Forever!)
LonePalm, le Républicain du verre cassé (The Broken Glass Republican)
Are there any people in IL that want to really help their state?
Will the last person leaving Illinois please turn out the lights? Thanks much.
Check financial reform and Obamacare. Both have plans to tax you for taking money out of your 401K on top of taxing it as income. Illinois is just behind on the scheme since their best and brightest were working on the theft from DC. Rahm will soon fix that.
Illinois will simply lose these people as residents.
They can relocate to tax-free states.
The more you tighten your grip, Vader, the more taxpayers will slip through your fingers.
Retirees should not have to pay any taxes. Enough is enough.
Once you start to withdraw from your IRA, its taxed. I get ticked off because at 72 (my age) the government tells you how much you have to withdraw based on your expected life span. Its really a little more than I need to live on, but cannot do anything about it except reinvest (but not in todays stock market instability) Only in CD’s or saving accounts..If one is not withdrawing from their 401K the government is stealing from your savings account...wonder how long people with stand for it...
The comments under the article are interesting...who knows, maybe the democrats will manage to cause enough strife to have themselves removed from power...
Reason number 87 why I’m glad my lifetime association with Illinois has been extremely brief.
Give up all of your perks you communist MF’ers!
LLS
This might be the flip side to pension reform.
That is, “Okay, you can keep your $200,000/yr pension. But we are going to slap a 70% tax on it.”