A Sugar Grove letter to the editor: I applaud the column written by Matt Paprocki (Sunday, March 19) as he hit the nail on the head.
I applaud the column written by Matt Paprocki as he hit the nail on the head. I am sick and tired of Illinois politicians wanting to revive some version of the"Fair Tax." It was soundly rejected by the voters, yet the politicians continue to focus on their own personal agendas.
The politicians are only serving the constituents that comprise their funding base, the political donors and not what is in the best interest of the state of Illinois and its 12 million citizens. Unlike"Wreck-It" Ralph Martire who generally writes columns that are nonsensical , Paprocki's columns are generally well thought-out, clearly written, make financial sense and are prudent concepts to get Illinois back to getting on track for financial stability.
What most people don't realize is that we are probably approaching the end of higher interest rates and at best, they will remain at these elevated levels, or could start to decrease if we enter into a recession. That will be extremely negative for our pension deficit, as our pension liabilities will start increasing again as interest rates fall. If that happens, watch for the Illinois state politicians to announce that we need higher taxes to help fund the growing pension deficit.
A lot of this can be fixed through an amendment to the state constitution and/or implementing a 401 program for state employees instead of the spiral death trap the pension obligations will continue to punish the Illinois citizens.
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