Illinois Solution to Pension Bankruptcy, Raise Taxes

As usual, politicians NEVER admit they’re wrong.

Instead, they point the blame on anything other than their policies or decisions made to “fix a problem.”

It’s bad enough that the state of Illinois is currently broke.  And they rank first in the nation with the highest median property tax.

So, to make up for their lying and theft of its citizens money, the Chicago Fed formally proposed to levy a special property assessment tax increase estimated to be about 1% of property value for the next 30 years.

Simple math here:  If your home is valued at $250,000 you can expect to pay an additional $2,500 more per year in taxes.

The politicians making these decisions are not only stupid, they’re blind to the human consequences.

Not only will property values decline in many areas of Illinois, this will only increase the amount of people leaving the state.  (*Note:  Illinois has been losing residents at an alarming rate in the last few years).

More people leaving the state=less taxpayers.  Oh, the irony!

But the real slap-in-the-face to the citizens of Illinois is, the proposed tax increase won’t even begin to cover the losses in their pension plans.  AND, this proposed tax would only address the five state pensions. What about the other 650 + pensions in Illinois?

Ouch!

This is more fuel to the fire for future civil unrest.

Don’t think for a moment that Illinois is alone in their pension crisis.  They’re just the most obvious at this time.

Read how the Pension Crisis in America is beyond the point of no return (HERE).

And what you need to do to protect your investments from coming storm.