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Democrats "fair tax" will tax grandparents retirement income

Posted by Riverbender <iframe src='https://members.boardhost.com/GraniteGossip/info/user=Riverbender' width='330' height='300' border=0 style='border:none;'> on October 14, 2020, 8:54 am

Amazing what they don't tell you regarding their so called "fair tax" including taxing grandmas retirement income. They don't mind borrowing money to live it up passing the payments to the younger generations either.

State Treasurer Michael Frerichs, a Champaign Democrat, let the cat out of the bag this past summer when he told a Des Plaines Chamber of Commerce audience that a progressive income tax would “make it clear you can have graduated rates when you are taxing retirement income.”

“I think that’s something that’s worth discussion,” Frerichs told his audience.

Truer words have ever been spoken, but a more impolitic statement has never been uttered.

That’s why Frerichs is in hot water with the governor while amendment proponents are falling all over themselves to deny that it has any direct impact on the issue of taxing retirement income.

They are absolutely right. The amendment, if passed, would allow legislators to impose multiple escalating tax rates on various categories of income earners instead of the current single 4.95 percent flat rate on everyone.

The amendment does not address the related issue of specific tax rates and specific types of income that would be taxed. That authority to address those issues would fall within the sole purview of Pritzker and members of the General Assembly.

https://www.news-gazette.com/opinion/columns/jim-dey-so-what-about-taxing-retirement-income/article_6b3b58a7-4db6-56ea-808f-c375d22236be.html

Re: Democrats "fair tax" will tax grandparents retirement income

Posted by chris hankins <iframe src='https://members.boardhost.com/GraniteGossip/info/user=chris+hankins' width='330' height='300' border=0 style='border:none;'> on October 15, 2020, 5:06 am, in reply to "Democrats "fair tax" will tax grandparents retirement income"

Wrong, more misinformation. The AARP supports this.

Re: Democrats "fair tax" will tax grandparents retirement income

Posted by Dave Williams <iframe src='https://members.boardhost.com/GraniteGossip/info/user=Dave+Williams' width='330' height='300' border=0 style='border:none;'> on October 15, 2020, 2:27 pm, in reply to "Re: Democrats "fair tax" will tax grandparents retirement income"

The AARP supports this.

So?

The policy of the American government is to leave their citizens free, neither restraining nor aiding them in their pursuits. -Thomas Jefferson

Re: Democrats "fair tax" will tax grandparents retirement income

Posted by Bluangel <iframe src='https://members.boardhost.com/GraniteGossip/info/user=Bluangel' width='330' height='300' border=0 style='border:none;'> on October 15, 2020, 2:48 pm, in reply to "Re: Democrats "fair tax" will tax grandparents retirement income"

Illinois Policy Institute: argues the language of the ballot initiative and official pamphlets explaining it are biased and misleading. It wants a correction sent to voters before they decide on the issue next month.

Specifically, the group takes issue with this line from the legally-required pamphlet explaining the proposed changes to the state constitution: "This amendment does not tax retirement income."

While that's true — it doesn't — the group says the amendment will pave the way for another law that could raise taxes on retirement income, pointing to statements from Democratic officials and the Chicago Sun-Times' editorial board making the case for taxing the state's highest retirement incomes.

The state could tax retirement income currently, but it would have to do so with a flat tax on all retirement income.

"Progressive tax powers make it inherently easier to raise taxes, because lawmakers do not have to worry about facing backlash from all taxpayers at once," the Illinois Policy Institute claims. "This amendment would enable Springfield to begin taxing retirement income above a certain level, but then gradually lower the exemption threshold to raise additional revenue, slowly adding more Social Security and pension income to the tax base."

When laws do not apply to those who make them, people are not being governed, they are being ruled. ~ Judge Michael McHaney

Re: Democrats "fair tax" will tax grandparents retirement income

Posted by Bluangel <iframe src='https://members.boardhost.com/GraniteGossip/info/user=Bluangel' width='330' height='300' border=0 style='border:none;'> on October 15, 2020, 3:03 pm, in reply to "Re: Democrats "fair tax" will tax grandparents retirement income"

“There is a prevailing mistrust in government based on the experiences of the last several decades,” said Ryan Gruenenfelder, AARP advocacy and outreach director for Southern Illinois.

What happened to AARP's interest in transforming the State Budget as a No. 1 priority?

When laws do not apply to those who make them, people are not being governed, they are being ruled. ~ Judge Michael McHaney

Il Treasurer M Frerichs said a progressive state income tax will open the door to taxing retirees

Posted by Riverbender <iframe src='https://members.boardhost.com/GraniteGossip/info/user=Riverbender' width='330' height='300' border=0 style='border:none;'> on October 15, 2020, 7:31 pm, in reply to "Re: Democrats "fair tax" will tax grandparents retirement income"

and a Democrat at that.
LOL Chris Hankins perhaps you might do better on a thread about the feral cat issue at the levees.
LOL
Junior grade troll...cough.

Re: Democrats "fair tax" will tax grandparents retirement income

Posted by chris hankins <iframe src='https://members.boardhost.com/GraniteGossip/info/user=chris+hankins' width='330' height='300' border=0 style='border:none;'> on October 15, 2020, 8:13 pm, in reply to "Re: Democrats "fair tax" will tax grandparents retirement income"

Everything the Illinois policy institute writes falls into biased and misleading, lol

Re: Democrats "fair tax" will tax grandparents retirement income

Posted by Dave Williams <iframe src='https://members.boardhost.com/GraniteGossip/info/user=Dave+Williams' width='330' height='300' border=0 style='border:none;'> on October 15, 2020, 8:58 pm, in reply to "Re: Democrats "fair tax" will tax grandparents retirement income"

Says a member of the Democratic party of Illinois. Save your breath trying to get Novacich to show up to a council meeting.

The policy of the American government is to leave their citizens free, neither restraining nor aiding them in their pursuits. -Thomas Jefferson

Re: Democrats "fair tax" will tax grandparents retirement income

Posted by Dave Williams <iframe src='https://members.boardhost.com/GraniteGossip/info/user=Dave+Williams' width='330' height='300' border=0 style='border:none;'> on October 15, 2020, 8:59 pm, in reply to "Re: Democrats "fair tax" will tax grandparents retirement income"

I have seen that you are for the Fair Tax. Sad to see you are gullible .

The policy of the American government is to leave their citizens free, neither restraining nor aiding them in their pursuits. -Thomas Jefferson

Re: Il Treasurer M Frerichs said a progressive state income tax will open the door to taxing retirees

Posted by D_Cline <iframe src='https://members.boardhost.com/GraniteGossip/info/user=D_Cline' width='330' height='300' border=0 style='border:none;'> on October 15, 2020, 9:09 pm, in reply to "Il Treasurer M Frerichs said a progressive state income tax will open the door to taxing retirees"

Dont downplay the significance of the feral cat issue.

John Kerry as Climate Czar? Only Democrats could pick a guy with 6 houses, 12 cars, 2 yachts and a private jet, to tell you that YOU should take the bus to stop pollution.

Re: Democrats "fair tax" will tax grandparents retirement income

Posted by D_Cline <iframe src='https://members.boardhost.com/GraniteGossip/info/user=D_Cline' width='330' height='300' border=0 style='border:none;'> on October 16, 2020, 2:04 pm, in reply to "Re: Democrats "fair tax" will tax grandparents retirement income"

At this point, what difference does it make?? Illinois is pretty much in shambles and is unlikely to ever recover.

Everyone knows The Land of Lincoln is easily one of the most crooked, sleazy run states in the union. Perhaps instead of all the negativity we can embrace and celebrate the inept fools who have destroyed the state. What the heck, if you cant be first you may as well be last.

John Kerry as Climate Czar? Only Democrats could pick a guy with 6 houses, 12 cars, 2 yachts and a private jet, to tell you that YOU should take the bus to stop pollution.

Re: Democrats "fair tax" will tax grandparents retirement income

Posted by Bluangel <iframe src='https://members.boardhost.com/GraniteGossip/info/user=Bluangel' width='330' height='300' border=0 style='border:none;'> on October 16, 2020, 2:22 pm, in reply to "Re: Democrats "fair tax" will tax grandparents retirement income"

I believe you are dismissing the legitimate concerns of Illinois Policy with this tax because they have been critical of the heavily unionized public workforce and 'where' a large chunk of union spending goes.

When laws do not apply to those who make them, people are not being governed, they are being ruled. ~ Judge Michael McHaney

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