The Motley Fool Discussion Boards
Retirement Discussions / Retire Early CampFIRE
|Subject: Obama Was Here||Date: 10/3/2012 8:53 PM|
|Author: 2828||Number: 646815 of 837946|
Budget + Tax
•Illinois' total state debt is $271 billion
•Illinois' state debt has ballooned to $51,000 per household
•Illinois' state debt per resident is $21,000.
•Illinois has roughly $8.5 billion in unpaid bills
•Illinois has had 12 credit downgrades since 2008.
•Illinois will spend more on pensions than on education by 2016
•Illinois has more units of local government than any other state in the nation
•Illinois has the worst funded pension in the nation
•Illinois' pension inaction costs the state $18 million per day
•Illinois pension funds need 19 percent annual investment returns in order to pay for the promised benefits
?For Illinois, the average tax increase in 2013 is estimated to be $3,452 per tax return for a state total of $22.73 billion.
?Starting January 1, 2013, Americans will face a $494 billion tax increase, the highest ever in one year.
?The average American household would see its taxes rise by