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Comment: Because, um, let me think. They’ll just leave.

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The most important reason to tax retirement income is that it ties all residents together to any tax hike. Imagine the outrage with senior citizens swarming town hall meetings and deluging their rep’s offices with angry letters if their taxes were about to go up. Instead, the only ones who complain are public sector retirees who only care about funding their their bankrupt pensions and are programmed to ask for tax hikes anyways. All the other retirees keep their mouths shut, lest their IRA’s be subjected to tax. I need the Frank and Estelle Costanza’s of Illinois to stand with me.

Because they ain’t gonna get a lot of revenue that way.

How did the income tax hike do in Illinois during Squeezy-the-Pension-Python Gov. Quinn?

bob oriole park

I have to agree, why not? I have 2 neighbors, both of who were employed by the city. One is a retired pencil push, with a pension this year of about $73K. The other is a retired detective, who will get about $104K this year. Yet neither one pays so much as a dime in state income tax. As for not taxing retirement income below $35K as the article suggests, I’d like a $35K personal exemption for myself if that’s the route they choose.