Illinois To Scrape 401ks?

Illinois does the despicable, predictable thing -

Illinois Senate President John Cullerton today suggested the state should start taxing the retirement income of senior citizens who are able to afford it. The state does not currently tax pensions or retirement funds such as 401(k) plans, but Cullerton told a City Club of Chicago luncheon that should take place as part of an overall look at what he said was Illinois' "outdated" tax system.

"It would just be a matter of fairness," said Cullerton, a Chicago Democrat. Details are still being worked out, but Cullerton said the state could bring in could bring in upward of $1.6 billion a year. Cullerton said the money could be used to provide tax relief elsewhere, whether that be lowering the corporate income tax rate, reworking sales tax rates or some other idea. Cullerton also suggested a means-test to avoid taxing low-income seniors.

The Real Effect
Fairness. Uh huh. Color me skeptical.

For anyone paying attention this should have been easy to spot from 10 miles away. Let's look at a simplified breakdown.

1. The United States creates an unbalanced situation in the world by bombing the infrastructures of most of the civilized world in World War II. This creates a somewhat false impression of American "greatness" in the minds of average people of the time.
2. This somewhat false prosperity further propped up an already hard working generation going into the 1950s to 1960s creating the unreal illusion of "The American Dream".
3. The prosperity starts to go to our egos. Through the late 1960s, CIA/socialist paradigms invade our culture, thanks in part to legal immigration and deliberate actions by government entities. This leads to a cultural "awakening" on many levels which overthrows traditional moral constraints.
4. The invasion of media, specifically the TV gives rise to a new form of "group think" in which the virtues of American life are foisted before a consuming generation. Surely other countries need this "American Dream". If only we foist it upon them.
5. Our predilection to export our values takes hold through myriads of wars, draining our economy and creating the foundations to drain our real wealth. Nationalism takes firm hold throughout the late 60s to early 70s.
6. Into the 80s, the left-right paradigm is honed, as the entitled "Dream Class Boomers" gives up completely on self-sacrifice and turns to child sacrifice legislation to ensure their financial returns. A boom ensues.
7. Convinced of their righteousness, laws are passed that solidify the hold on the coming generation's wealth. Deficits are run, accounts are raided under the false premise that it will be repaid. Fractures show as more immigrants are imported to keep the "Dream" going. After all, the natural consequences cannot only be avoided, but overcome completely. At least so the thinking goes.
8. The 90s see the divide and conquer strategy take hold completely as false paradigms ensue: White vs black, Rep vs Dem, gay vs straight - They are all out to get us and if they win, we lose.
9. 2000 sees the process nearly complete as all classes will do almost anything to prevent a cut to their pet project from happening. The class warfare of the previous generations have decimated the coffers and left property rights in shambles, yet 9/11 gives us a new external foe to unite us in servitude to our masters.
10. Having exhausted the supply of golden eggs, the butcher is brought in to avert the catastrophe again. Surely if we take the money again, this time we will succeed.

This is not a one issue crisis. While the solution is simple, the people will protest either way because they don't want the "Dream" to die. The problem is, the Dream died decades ago. The elected class will not tell us this primarily because WE DON'T WANT TO HEAR IT! So they are doing what they think is most expedient, giving us the Dream of prosperity because that's what we want.

We can create a new dream, but it requires several adjustments:

• Equal protection under the law - No Celebrity classes
• Property protection - This protects capital formation
• Liberty - The moral or immoral police state must be abolished.

Only then can we have true prosperity again.