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Posted March 18, 2017 7:58 am by WirePoints Comments (2)
That’s $1,000 per person. Multiply that by ten for the unfunded pension debt.
2 Comments on "Illinois’ Unpaid Bill Pile Hits a Record $12.8 Billion – Reuters"
This calculation would be more meaningful if measured by tax returns or household. A large number of taxpayers don’t pay state income taxes because they don’t make enough, so their inability to pay will fall on others. Add on the retirement income tax exemption and the number of folks footing this bil becomes even smaller. You can apply this measure to pension debt as well.
Nixit, exactly right. In fact, suppose you use the progressives’ state goal of raising taxes only on the top ten percent. We’ve calculated that before, and if you are in Chicago with all the overlapping pensions, it approaches $1 million per household!
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