{"id":9901,"date":"2014-03-13T18:05:50","date_gmt":"2014-03-13T18:05:50","guid":{"rendered":""},"modified":"2014-03-13T18:05:50","modified_gmt":"2014-03-13T18:05:50","slug":"emanuel_threatens_to_double_property_taxes_to_pay_people_who_aren_t_working","status":"publish","type":"post","link":"https:\/\/admin.rushlimbaugh.com\/daily\/2014\/03\/13\/emanuel_threatens_to_double_property_taxes_to_pay_people_who_aren_t_working\/","title":{"rendered":"Emanuel Threatens to Double Property Taxes to Pay People Who Aren\u2019t Working"},"content":{"rendered":"

\"Listen<\/a><\/p>\n

RUSH: Chicago mayor and potential Democrat presidential candidate Rahm Emanuel<\/a> is warning that he may double property taxes in the state of Illinois in order to pay for spiraling pension costs. Illinois has one of the largest under- and unfunded pension liabilities in the entire fruited plain. It is dire. The circumstances — the unfunded, underfunded pension liabilities — are absolutely horrendous, and all of the problems are due exclusively to Democrat politicians and Democrat unions. <\/p>\n

But, of course, nobody\u2019s going to cast such blame, except for yours truly. But it remains true that “Illinois has one of the worst pension messes in the nation as the cost of government employee benefits is sending state, county, and local governments into bankruptcy crises all across the state. No place has more trouble than Chicago, prompting Mayor Rahm Emanuel to warn that property taxes will have to double to” pay those pensions. And what are those pensions? <\/p>\n

Those are payments to people who are not working. <\/line><\/p>\n

Now, I know that they are commitments that were made in old agreements. City employees, union employees, probably the pension is you get 100%. The way it works in these Democrat cities is if you take any civil service job, any union job — fireman, police officer, accountant, you name it — and you put in 15 years, and you can retire at 100% of your salary at age 45. <\/p>\n

In some cases, it is that bad. I kid you not. This is the spoils system at work. Well pay somebody who doesn\u2019t work. In some places, it\u2019s 120% of your salary, plus your health care benefits, from age 45 until you die, while you\u2019re ostensibly retired. What Mayor Rahm is telling people in Chicago is (paraphrased), “We\u2019re gonna double your property taxes to pay these pensions, because, guess what?<\/p>\n

“We have so mismanaged it, we have botched it so badly, we\u2019re gonna make you pay for it, because you elected us. It\u2019s ultimately your fault. You\u2019re the stupid idiots that elected us. We don\u2019t know what we\u2019re doing. We have no idea how to actually govern. All we can do is spend your money, and we need more of it.” (interruption) People can\u2019t afford their property tax being doubled? That\u2019s not a problem. They\u2019re gonna send out the bill.<\/p>\n

If you don\u2019t pay your property tax, they reclaim your home and they own the home and then they\u2019ll resell it and they\u2019ll get it out of you that way. That\u2019s the way it\u2019ll work. (interruption) What do you mean they can\u2019t afford it? When\u2019s the last time a Democrat ever factored in whether or not a taxpayer can afford a tax increase? Name for me the last time a Democrat ever thought about that. <\/p>\n

So Snerdley says, “Wait a minute. This can\u2019t possibly work \u2019cause these people can\u2019t afford to pay double property tax.” You think they\u2019re worried about that? You know what the Democrats think. There\u2019s always money out there. People always have money. Every business is rolling in it. Every homeowner has money he\u2019s not spending. Everybody does — and we\u2019re gonna get it, whatever, however we do it. <\/p>\n

So if you own a home or any piece of property, and your property tax is gonna double, and you can\u2019t pay it, what is gonna happen to you? Your property is going to eventually be taken from you. They\u2019ll foreclose on you. And who do you think\u2019s gonna take ownership? Rahm Emanuel. And if he can\u2019t get money out of you from you paying your property tax times two, then they\u2019ll foreclose on your home.<\/p>\n

They\u2019ll take it from you and they\u2019ll sell your house, and whatever they get for it will make up for whatever you were supposed to pay but couldn\u2019t. How else are they gonna do it? See, now, I know that the normal reaction is, “Okay, they\u2019re gonna double property taxes. There\u2019s already a stagnant economy nationally. Illinois is already its own subset of a mess. People do not have this money. <\/line><\/p>\n

“They do not have enough money with all their health care mandates now and everything else, and already existing taxes. Now they\u2019ll face their property tax doubling?” But you think Rahm thinks about that? (interruption) “How can they…?” (interruption) No. That\u2019s my point. No Democrat has ever thought about that happening. Now, you might say, “Well, one of the ways of fixing the pension crisis would be to off-load \u2019em to the government, which will guarantee only 60% of it, and you do it…”<\/p>\n

No, we can\u2019t do that, \u2019cause these are Democrat voters, and we promised them pensions. They\u2019re not just Democrat voters or Democrat donors at fundraisers, and we promised them they could retire at age 45 or age 50 and get 100% of what they were earning on their health care and we\u2019re gonna come through — and if it means you, who are not one of these people, pay for it, that\u2019s what we\u2019re gonna do. <\/p>\n

“We wouldn\u2019t think of cutting their benefits; they might not vote for us anymore!” Remember, these people are still alive. These people retired on the promise that they\u2019re gonna get everything they were earning when they were working until they die, without having to work. So here comes the mayor, say, “Well, gonna cut your pension benefits. It\u2019s the only way”? There will be hell to pay. It wouldn\u2019t happen.<\/p>\n

So you go soak the taxpayer, because he or she doesn\u2019t matter. Doesn\u2019t matter. Wipe out this neighborhood? It doesn\u2019t matter. The theory is, raise taxes. Some of the details here: “In 2015, Chicago faces a looming financial disaster with a municipal pension system that is in worse shape than that of any other major US city. “Chicago is under the gun for a whopping $1.07 billion balloon payment on its $19.4 billion pension debt for city employees.”<\/p>\n

The city of Chicago owes, in the form of pensions to people who are not gonna be working, $19.5 billion. They have a balloon payment coming up of $1.07 billion, and that\u2019s why Rahm Emanuel is going to double — or is at least warning of doubling — property taxes. “The shortfall to the pensions amounts to $7,100 per Chicago resident. In any case, if something else isn\u2019t done, Mayor Emanuel is warning that he\u2019ll have to double property taxes to fund the” balloon payment. <\/p>\n

And the shortfall to the pensions, that $1.07 billion, amounts to $7,100 per Chicago resident, and doubling their property taxes is how he\u2019s threatening to get it. “The municipal pension fund isn\u2019t the only pension in failure in Chicago. The city\u2019s teachers\u2019 pensions are also widely understood to be one of the worst-funded in the country. The teachers\u2019 pension fund will require a tripling of its required contribution.” Now, how did things get to this point? <\/p>\n

I mean, for crying out loud, these people have a portion of their pay deducted to go to the pension fund. It\u2019s matched, and then this money is supposed to be invested. California, same thing. CalPERS and CalSTRS, the State Teachers Retirement System and the Public Employee Retirement System — the two of \u2019em in California — are massively invested. How in the world does this happen? (interruption) I know. I know they overpromise. They over-expect on the return they\u2019re gonna get. <\/p>\n

It\u2019s just total incompetence. <\/p>\n

But, as always, the taxpayer has to clean up the mess. <\/p>\n

BREAK TRANSCRIPT<\/p>\n

RUSH: Now, a couple things. The pensioners, the people that receive the pension, they own property. Their own property taxes are gonna double. They\u2019re not gonna be happy. I think the mayor ought to just tell people, “Look at your budget. Give up your cell phone, maybe your Netflix account, and maybe even cable TV, in order to pay these people who are not working.”<\/p>\n","protected":false},"excerpt":{"rendered":"

RUSH: Chicago mayor and potential Democrat presidential candidate Rahm Emanuel is warning that he may double property taxes in the state of Illinois in order to pay for spiraling pension costs. Illinois has one of the largest under- and unfunded pension liabilities in the entire fruited plain. It is dire. The circumstances — the unfunded, […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","ngg_post_thumbnail":0,"footnotes":""},"categories":[],"tags":[],"class_list":["post-9901","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nEmanuel Threatens to Double Property Taxes to Pay People Who Aren't Working - The Rush Limbaugh Show<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rushlimbaugh.com\/daily\/2014\/03\/13\/emanuel_threatens_to_double_property_taxes_to_pay_people_who_aren_t_working\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Emanuel Threatens to Double Property Taxes to Pay People Who Aren't Working - The Rush Limbaugh Show\" \/>\n<meta name=\"twitter:description\" content=\"RUSH: Chicago mayor and potential Democrat presidential candidate Rahm Emanuel is warning that he may double property taxes in the state of Illinois in order to pay for spiraling pension costs. 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