From the Taxpayer Education Foundation:
NO TAXPAYER STATE BAILOUTS FOR INCOMPETENCE AND CORRUPTION!
“Joe Biden, the crazy uncle who escaped from the attic long enough to get himself elected, is proposing massive subsidies for Blue States that are circling the drain,” said Jim Tobin, president of Taxpayer Education Foundation (TEF).
“A major element of Biden’s plan is a $400-per-month federal supplement to state unemployment payments, which will continue through September, a price tag of $350 billion.”
“Biden is also proposing $170 billion to assist in reopening schools and a $350 billion bailout of state and local governments. Biden has also called for raising the national minimum wage to $15 an hour.”
“In the State of Illinois, which is functionally bankrupt due to its lavish, gold-plated pensions for retired government employees, Ill. Gov. Jay Robert ‘J. B.’ Through his minions, Pritzker promises to increase the state income tax 20% now that voters have crushed his taxpayer theft amendment at the November polls. In addition, he is counting on Biden’s tax dollar giveaway.”
“Biden’s bailout proposals, using taxpayer dollars from across the country, would rescue Illinois’ floundering government pension systems and encourage Springfield Democrats to keep increasing the payouts to retired government employees living the good life at taxpayer expense.”
“There are 148,654 Illinois government pensioners who will receive more than a million dollars in pension payments over a normal lifetime. That only represents the six statewide pension funds. There are tens of thousands more government pension millionaires in the Chicago pension funds and the hundreds of local police and fire pension funds.”
“The average pensioner gets $1.5 million in lifetime pension payments, and for every $1 he or she deposits to their own pensions, taxpayers are forced to pay $4.74. Government employees don’t have to work very long to qualify for that $1.5 million; the average number of years employed is only 20.1, and the average age of retirement is about 61.”
“In thousands of cases from the State Employees Retirement System (SERS) and the Illinois Municipal Retirement Fund (IMRF), pensioners also receive Social Security pensions.”
“Until taxpayers tell Springfield Democrats ‘Enough! No more!’ and their representatives in Congress to oppose the Biden bailouts, no taxpayer’s nest egg is safe.”