The Sentinel: Retirement

Harnessing the power of age: 5 key benefits of hiring older workers

by Gary A. Officer

BPT - When you think of new hires, who do you picture? While you may expect applicants to be 20-somethings straight out of college or 30- to 40-somethings making a career change, in reality, you'll likely see more applicants who are older adults. According to a report by the U.S. Special Committee on Aging, workers 55 and older will soon represent 25% of our nation's workforce.

Gary A. Officer

President/CEO
Center for Workforce Inclusion

However, just because more older adults are applying for jobs doesn't mean they are getting hired. Many older applicants face ageism during the hiring process. A survey by AARP found that it took older workers who were displaced during the Great Recession twice as long to find a new job than younger workers. The association also found that only 4% of firms have committed to programs that help integrate older workers into their talent pool.

Businesses that ignore this fast-growing workforce segment need to rethink their hiring process. With record-low unemployment numbers, many job openings across industries still need to be filled. But there is a mostly overlooked talent pool readily available - older Americans. Now more than ever, businesses must recognize that older workers bring much-needed experience, emotional intelligence and generational diversity to our workplaces.

Not convinced? Here are five key values older workers offer employers.

1. Problem-Solving abilities

Problem-solving is a critical skill that is attained over time. Through their lived experience in the workforce, older workers have accumulated a wealth of industry-specific knowledge that they can use to make informed decisions that help your business thrive. More importantly, they can impart this knowledge to younger colleagues, providing mentorship opportunities that benefit the mentors, mentees and the business as a whole.

The result is a more innovative team. A 2018 study by Cloverpop found that multigenerational teams with an age range of 25 years or more (from the youngest member to the oldest member) met or exceeded expectations 73% of the time, while those with a narrow range of less than 10 years did so only 35% of the time.

2. Reliability

Older workers are incredibly reliable. This usually means that they are known for punctuality and dependability. You can count on them to show up on time to meetings, meet strict deadlines and provide a consistency that may be missing from your workplace. Best of all, they set a positive example for the rest of the company.

3. Improved team productivity

It's been reported that seven out of 10 workers in the United States enjoy working with people from other generations. Older workers appreciate the creativity of younger workers and younger workers appreciate the value of older workers' experience and wisdom (AARP).

These benefits extend beyond workplace satisfaction, too. Significant profitability and performance gains have been reported for companies that have above-average diversity. For example, according to an AARP report, companies with above-average diversity in age, gender, nationality, career path, industry background and education on their management teams report innovation revenue that is 19% higher and profit margins that are 9% higher than companies with below-average diversity.

4. Adaptability

Older adults have seen technology rapidly change throughout their lifetime. Contrary to popular belief, older workers are adaptable and willing to learn and master new skills and technologies.

The fact is that they've had to adapt quickly to keep pace with the increasingly connected and technology-forward world. These experiences have taught them to effectively navigate change, a valuable asset for businesses across many industries.

5. Low turnover

Hiring and training new employees can cost a company extensive time, money and resources. To reduce turnovers and increase employee retention, businesses should look to hire older workers.

The U.S. Bureau of Labor Statistics reports that older workers ages 55-64 have a higher employee tenure rate than their younger colleagues. They typically stay with a company for nearly 10 years, more than three times the rate of workers ages 25-34.

So, while the assumption might be that an older applicant is ready to retire - that is likely not the case. Many older Americans are delaying retirement, unretiring or simply unable to retire and are prepared to stay on board for many years to come.

Age is a value-add, not a detriment

While working for the Center for Workforce Inclusion, I've seen firsthand the benefits of hiring older employees. Embracing age diversity in your workforce can only help to improve your company's overall performance and workplace culture.

We often partner with businesses to help them tap into the talent pool of older workers to achieve successful business outcomes. We also work directly with older job seekers to overcome barriers to employment, develop in-demand skills and secure employment. To learn more about our work and how we can help, visit CenterForWorkforceInclusion.org.

Guest Commentary | Are our nation's politicians too old?

by Glenn Mollette, Guest Commentator

Is Senator Mitch McConnell too old to serve in the United States Senate? The same question is being asked of California U.S. Senator Dianne Feinstein, President Joe Biden, and even former President Donald Trump. How old is too old?

Some people are old and sickly by the time they are fifty or even younger. Some people are robust and very active at age 80. McConnell is 81, Feinstein is 90, President Biden is 80 and Trump is 77.

A person is not allowed to serve as President of the United States until they are 35 years old. We need to have a number on the other end as well

My grandfather Hinkle ran a country grocery store until two weeks before he died at age 83. My grandmother was almost 80 before she finally closed the doors to the store. They were still working but in their last couple of years they seemed to be just holding on. My dad was enjoying fishing and hunting and his mind was clear up until his death at 85. However at age 55 he knew it was time to retire from his 37 years of underground coal mining. There is wisdom in knowing when to make life transitions.

We all know there comes a time to retire. None of us want anyone else forcing that on us but commonsense is imperative. A person is not allowed to serve as President of the United States until they are 35 years old. We need to have a number on the other end as well – perhaps 80 or 82. If someone is elected at 81 they still have four years putting them at 85 when they have to step aside.

I’ve worked with a number of 75 to 85 year old people. They are overall good workers, dependable and mean well but the aging process overcomes us all eventually.

This is not to say that we can’t all be useful when we hit our eighties.

It’s about over for McConnell. He needs to finish his term and retire gracefully. This means he has two more years on his current term. Reelection for him is not until 2026. He can accomplish a lot even yet if his health holds up. President Biden should try to get through this term and retire. Rehoboth Beach is calling him and he needs to enjoy his remaining years in Delaware. If Trump were to be elected then he definitely needs to retire at the end of his four years.

Most Americans formulate their opinion about this based on their party affiliation. Democrats and Republicans want to stand by their man or woman. We can hardly blame McConnell for wanting to stay on. He could be once again the majority leader in the Senate. That’s a hard position to pass over for a rocking chair in Louisville.

Feinstein should have quit several years ago. She definitely shows all the signs of not being well enough to do her job.

The problem is we let these people serve too many years in office. A U.S. Congressman or woman should be limited to 12 years as should a U.S. Senator. We limit the President to eight why should these other politicians camp out forever in the Capitol? They have made it America’s premier nursing home facility.

This is not to say that we can’t all be useful when we hit our eighties. There are certainly millions of Americans still trying to work jobs in their golden years. Sadly, I don’t believe many of them really feel like it or are able to be working at such a late stage of life.

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He is the author of 13 books including Uncommom Sense, the Spiritual Chocolate series, Grandpa's Store, Minister's Guidebook insights from a fellow minister. His column is published weekly in over 600 publications in all 50 states. The views expressed are those of the author and are not necessarily representative of any other group or organization. We welcome comments and views from our readers. Submit your letters to the editor or commentary on a current event 24/7 to editor@oursentinel.com.

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Guest Commentary: You won’t get rich collecting Social Security

by Glenn Mollette, Guest Commentator

You won’t get rich collecting Social Security, not even close. However, you don’t want to mess it up either. The system was never intended to be your total retirement income but to many it’s their only source of retirement income. You don’t want to make it your only source of income for your senior years but you definitely want it in your income portfolio.

Social Security recipients will receive an 8.7% increase in their monthly income starting in January. The average increase will fall between $150 to $250 per month. This will buy you a tank of gasoline or a sack of groceries. The increase will help about 70 million retired Americans.

Inflation has devoured Americans’ paychecks as groceries, fuel, rent and now interest rates have skyrocketed. By the time the January increase comes around you probably will have lost most of your increase to these and medical costs associated with Social Security.

Pay all you can into Social Security. Too many young adults buy into the rationale that Social Security doesn’t pay much or won’t be around when they retire. On some level it will be around and you’ll need it when you retire.

Business persons, farmers, hospitality people, clergy and others make a big mistake in finding ways to only show a small income when they file their taxes. This reduces the amount of taxes owed and lowers how much paid into Social Security. When retirement comes these people become very sad when they find out they will only receive a minimal amount of Social Security income.

One minister friend opted out of paying into Social Security because of religious objections.

When he was 70, he had almost zero retirement and worked up until his death. Another ministerial friend claimed very little salary and received very little in Social Security payments when he retired. He spent his last couple of years cleaning hotel rooms and working at Kentucky Fried Chicken trying to survive. A farmer acquaintance worked hard for many years but doesn’t collect a penny in Social Security benefits. You have to pay into it to collect it so don’t short-change yourself.

The average Social Security payment in 2022 is $1,614. Many people who worked less years and paid less collect less than this amount. Some Americans who worked longer, earned more income and paid more into the system are collecting $3,345 per month. Again, these numbers will increase in 2023 by 8.7%.

Sometimes people retire too early. A friend retired at 62 and received $1100 per month in Social Security income. At that time, he would have collected several hundred more if he could have worked just three more years.

Pay into an Individual Retirement Account, 401k and anything else you can. You can’t live big just on a Social Security check, but pay as much as possible into the system now because it will be helpful later.

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Dr. Glenn Mollette is a syndicated American columnist and author of Grandpa's Store, American Issues, and ten other books. He is read in all 50 states. The views expressed are those of the author and are not necessarily representative of any other group or organization.

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This article is the sole opinions of the author and does not necessarily reflect the views of The Sentinel. We welcome comments and views from our readers. Submit your letters to the editor or commentary on a current event 24/7 to editor@oursentinel.com.

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Are you eligible to claim the IRS saver’s credit?

NAPSI -— Here’s good news, for a change, from the IRS: It offers an incentive to lower your tax bill when you save for retirement. With pandemic-related employment disruptions last year, more taxpayers may be eligible to claim the Saver’s Credit but may not even know this tax credit exists. Also referred to as the Retirement Savings Contributions Credit, the Saver’s Credit can reduce federal income taxes for eligible taxpayers who save for retirement through a qualified retirement plan, such as a 401(k) or an Individual Retirement Account (IRA).

The 22nd Annual Transamerica Retirement Survey finds that fewer than half (48 percent) of workers are aware of the Saver’s Credit.

"People who are saving for retirement may be able to claim the Saver’s Credit and reduce their federal taxes," says Catherine Collinson, CEO and president of nonprofit Transamerica Institute and its Center for Retirement Studies. "Perhaps people are confusing the tax credit with the tax-advantage treatment of retirement accounts. The idea of a double tax benefit may sound too good to be true but both are available to retirement savers."

What Is the Saver’s Credit?

The Retirement Savings Contributions Credit is a non-refundable tax credit for contributions an eligible taxpayer makes to a 401(k), 403(b) or similar employer-sponsored retirement plan, a traditional or Roth IRA or an ABLE account. In this context, "non-refundable" means the credit cannot exceed a person’s federal income tax for the year. The maximum credit is $1,000 for single filers or individuals and $2,000 for married couples filing jointly.

Tips for claiming the Saver’s Credit

1.Check Your Eligibility

To be eligible, the maximum Adjusted Gross Income (AGI) for single filers is $33,000 in 2021 and $34,000 in 2022. For the head of a household, the AGI maximum is $49,500 in 2021 and $51,000 in 2022. For those who are married filing jointly, the AGI maximum is $66,000 in 2021 and $68,000 in 2022.

You must be 18 years or older by January 1 and cannot be a full-time student or be claimed as a dependent on another person’s tax return. Consider using the IRS’s online tool to help determine if you are eligible for the Saver’s Credit.

2.Save for Retirement

To claim the Saver’s Credit for 2021, you must have contributed to a 401(k), a 403(b), a similar employer-sponsored retirement plan or an ABLE account during 2021. Contributions to traditional or Roth IRAs are also eligible and you have until April 18, 2022 to make an IRA contribution for tax year 2021. Roll-over contributions are not eligible for the credit.

3.File Your Tax Return and Claim the Saver’s Credit

Let the IRS help you file your federal taxes with its Free File program. The program’s eight partners offer online tax preparation tools free to taxpayers with an AGI of $73,000 or less. More at www.irs.gov/FreeFile.

•When using an online tax preparation tool, be sure to answer questions about the Saver’s Credit, also referred to by the IRS as the Retirement Savings Contributions Credit and Credit for Qualified Retirement Savings Contributions.

•If you prepare your tax return manually, complete Form 8880, Credit for Qualified Retirement Savings Contributions, to determine your exact credit rate and amount. Then transfer the amount to line 4 on Schedule 3, which is used with Forms 1040, 1040-SR, and 1040-NR.

•If you use a professional tax preparer, be sure to ask about the Saver’s Credit.

"Consistently saving for retirement is fundamental to helping achieve financial security in retirement,” says Collinson. “Another way to help boost your retirement savings is to directly deposit any tax refund into an IRA. Saving more now could help you reap more later."

Remember, this important tax credit may help reduce what you owe in federal taxes or increase your refund. Check your eligibility, particularly if you had pandemic-related employment impacts in 2021. Help spread the word about the Saver’s Credit by telling family, friends, and colleagues.

Learn More

For more details and resources on the Saver’s Credit in English and Spanish, visit Transamerica Institute at www.transamericainstitute.org/SaversCredit or the IRS at www.irs.gov.

Viewpoint: Now that you have the diploma, how to work toward early retirement

by Glenn Mollette, Guest Commentator

Families across America are celebrating high school and college graduations.

Young adults are now faced with going to work or pursuing more education. Employers across America are looking for workers. Colleges are looking for students. Will you spend $25,000 to $60,000 per year to go to school? Or, will you go to work and earn $25,000 to $60,000 or more?

Some of America’s graduates will find jobs working for state or federal government entities. One acquaintance went to work for her state government and retired by the time she was 46. With a full state retirement benefit she started a part-time business that seems to do well. She did not have one day of college education. She started out at an entry level job but worked hard, showed up and received several promotions that provided her with a good income and a very good government retirement.

A high school graduate can enlist into the military. He or she will start out on the bottom but show up and work hard every day and have a retirement by the time they are 38 years old. It’s only 50% of their salary but it’s a respectable check which will provide them financial security for the rest of their lives.

If school teachers start teaching at the age of 23 many can retire by about 51 years old.

Retiring at 46 or 51 is seldom on the mind of someone 18 or even 23. Often, just finding an enjoyable job that is maintainable is the main goal. However, give some thought to the type of work you are pursuing. What kind of financial stability and security will it provide for you and when will it afford you retirement income?

You don’t have to quit working at 46 or 50 just because you have obtained a monthly retirement check. There is a world of opportunities you can pursue. You can start a different career. You can work part-time. Or, you can stay with the job you are doing. Or, just enjoy life.

There is a sacrifice to a lot of jobs. Many jobs may be fulfilling but often come up short on solid retirement plans. Pursue and enjoy what you do but you can’t make a retirement plan happen out of thin air when you hit sixty. Keep in mind you can save a little bit of money every month and it will grow. Be diligent about this every month and you’ll eventually see results. Start now.

The career you went to school for may also allow you to retire at 55 if you want to. You may also train for a job that you will enjoy doing into your late sixties or even seventies or older. An acquaintance of mine is 82. He’s been in the hotel business for many years and loves his work. Another friend was a college President until he was 78 and loved every minute of his work. One of my friends is a surgeon and is 72. He loves working every day.

Today is a good time to think about what you are doing and where it will take you. Consider what you want life to look like when you arrive at your destination.

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Dr. Glenn Mollette is a syndicated American columnist and author of American Issues, Every American Has An Opinion and ten other books. He is read in all 50 states. The views expressed are those of the author and are not necessarily representative of any other group or organization.

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5 strategies to consider for singles heading into retirement

Photo:Tima Miroshnichenko/Pexels

(StatePoint Media) -- Planning on retiring single? You aren’t alone.

Nearly 22 million Americans age 65 and older were unmarried in 2019, according to the U.S. Census Bureau, representing 41.5% of those in that age category. And for women, it’s more likely to be the case. According to the Administration on Aging, 54% of older women are unmarried, as compared to 30% of older men.

In a study published in the "The Gerontologist", one-third of men and women between the ages of 45 and 63 who responded to the survey were single, most were never married or they were and now divorced. A small number were widowed.

Unmarried Baby Boomers face greater economic, health, and social challenges compared to their married peers in their later years.

"Retirement planning can be especially challenging for singles, who need to prepare without the decision-making and income support of a partner," says Scott Pedvis, financial advisor, Wells Fargo Advisors.

For those setting a course for solo retirement, Wells Fargo Advisors offers these five tips:

1. Create a fallback plan. Retirees commonly discover a gap between what they thought they’d need for retirement and what’s actually needed. And if you’re single, you may not have a second income stream to rely on should finances become unexpectedly disrupted. Periodically review your investment portfolio and build backup plans. Such contingency planning could involve more emergency savings and more robust disability and long-term care insurance protection than couples. You could also choose to take a part-time job for extra income.

2. Build a network of advisors. With autonomy sometimes comes a reluctance to seek advice. Consider forming a team of trusted professionals, including a financial advisor, accountant, attorney and healthcare providers.

3. Count on loved ones—to a point. Friends and family can be a lifeline in good times and times of need. However, ensuring they don’t take advantage of your independent status or create serious financial burdens for you is essential. For example, you should take extreme care before turning over financial matters to others. Stay actively involved and work with a trusted team to help make decisions in your best interests. Evaluate the possibility of engaging a corporate trustee to manage finances, should you become incapacitated.

4. Prepare key documents. According to Caring.com, more than half of American adults don’t have estate planning documents such as a will or trust. Don’t wait. Even if you’ve put some documents together, they may not ensure your wishes are carried out. Here are the key documents forming the foundation for most estate plans:

• Will
• Power of attorney (POA) for financial matters
• Durable power of attorney for health care
• Health Insurance Portability and Accountability Act (HIPAA) release authorization
• Living will
• Revocable living trust

To prevent confusion and misdirected bequests, carefully designate beneficiaries of IRAs, employer-sponsored retirement plans, insurance policies and annuities. Lay out clear directions for the distribution of remaining assets. Also, don’t forget about digital assets and accounts. Will your executor or trustee have proper authority to access and manage those items? Talk to your attorney about keeping digital planning secure and up-to-date.

5. Plan for change. Entering into a committed relationship could mean making adjustments. Look at your insurance coverage, emergency fund and future income plan.

Think about having a frank discussion with your new partner about how you’ll divide assets in the event of divorce or death. If ex-spouses or children are in the picture, consider managing finances and estate plans separately. With the assistance of your financial advisor and estate-planning attorney, you can establish a basic estate plan, and, as appropriate, discuss other strategies for preserving wealth.

"Planning for retirement is part of the financial journey. Key planning strategies can help you feel confident as you approach your golden years solo," says Pedvis.

For more information and guidance in planning your retirement, visit wellsfargoadvisors.com.

Guest Commentary: Never underestimate the power of $6 and a little time

By Glenn Mollette, Guest Commentator

When I was sixteen years old, I was invited to speak at a little country church in rural Denver Kentucky, not far from Paintsville.

The church had all but closed its doors but one man, Harold Rice, and his family wanted to see the church stay open and do well.

A church with few to almost no people typically does not attract too many interested ministers. I had spoken in my home church a few times and was a guest speaker in a few others. Mr. Rice asked if I would consider speaking at the church on the second and fourth Sunday afternoons at 2:00. I agreed, and brought a message to maybe seven or eight people my first Sunday. The crowd consisted of Harold and his wife June Rice and their family. The church was an old building with a pump organ and a sign behind the pulpit that said, "Preach the Word."

I stayed with the little congregation called Liberty Baptist Church throughout high school. By the time I was seventeen Mr. Rice was talking to me about being the official pastor and about ordination. In time I would become the pastor and would be ordained. I was too young, too inexperienced and unskilled for such a responsibility but youth is adventurous and will try what those of us who know better would never consider.

The church grew and we started having 20 to 30 people and often more. People literally received Christ, joined the church and were baptized. This was all amazing.

Even more amazing was Mr. Rice offered me a grand salary of $60 a month to help buy my gasoline. The trip one way from home was over 30 miles so this was appreciated.

He also presented me with paperwork for a perk. The church was going to put 10 percent or $6 of my salary into the church denominational retirement plan, then known as The Annuity Board. It's called Guidestone today. He had me to complete a form solidifying my agreement to this monthly contribution. I was about seventeen at this stage and had zero interest or thoughts about retirement. Six dollars a month kind of seemed like a joke.

I was with Liberty church a couple of years or more and about ten to twelve of those months Mr. Rice made that $6 contribution to my retirement faithfully. Although, I never thought another day about it from the moment I signed those papers.

Seven or eight years ago I did wonder if that account even existed. I called up The Guidestone retirement people and with my Social Security number they told me in a few seconds that the account did indeed exist and my balance was $31,000.

Shocked would not describe how I felt. I almost had to pick myself off the floor. If Mr. Rice had made as many as 12 contributions the total invested would have been $72. Now, years later I was looking at over $31,000. Since that day of first inquiring that little $6 account now has over $46,000 and still growing. The point of all this is save some money when you can.

Start as young as possible but even if you are old put something away every month. If you can save hundreds every month that is wonderful, please do. However, don't ever underestimate the growth potential of saving a little bit of money every month, even if it's just $6. And yes, every time I look at that account, I remember Mr. Rice and the good people of Liberty Baptist Church who not only encouraged me then but are still encouraging me today with just $6.

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This article is the sole opinions of the author and does not necessarily reflect the views of The Sentinel. We welcome comments and views from our readers.

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Small business and retirees could suffer under progressive tax plan

Ben Szalinski and Adam Schuster
Illinois Policy

Illinois state Treasurer Michael Frerichs confirmed what many believe would be a new possibility in Illinois if voters pass the progressive income tax amendment: taxing retirees.

"One thing a progressive tax would do is make clear you can have graduated rates when you are taxing retirement income," he said while speaking at an event hosted by the Des Plaines Chamber of Commerce. "And, I think that’s something that’s worth discussion."

According to the Daily Herald, Frerichs said he knows people who receive annual pensions over $100,000 but pay no state income taxes. He said under the flat tax there is no way to differentiate between retirees who take home hundreds of thousands from those who get little.

Illinois voters on Nov. 3 will decide whether to remove the Illinois Constitution’s flat tax protections and give state lawmakers greater power to set tax rates.

All 32 states with a progressive income tax impose some sort of tax on retirement income from 401(k)s, IRAs, Social Security and pension benefits. Mississippi limits its retirement taxes to the income of those who retire before age 59.5.

The constitution’s drafters in 1970 included a flat tax guarantee in order to ease voters’ fears that the state’s first income tax – which went into effect in 1969 – could be raised easily in Springfield. Flat taxes treat everyone the same and make it harder for lawmakers to raise rates on everyone because voters can hold them responsible. A graduated tax allows politicians to decide who should be taxed how much and allows them to gradually increase taxes on smaller segments of the population, eventually hitting the middle class where most taxable income resides.

That is what happened in Connecticut, the only state in the past 30 years to impose a progressive tax. Middle class taxes rose 13%, property taxes spiked 35%, poverty increased by 50%, more than 360,000 jobs were lost and the state economy took a $10 billion hit. All that, and the state still failed to balance its budget.

Gov. J.B. Pritzker has billed a progressive income tax as a way to increase taxes on the rich without also increasing taxes on the poor and middle class. But for a low-income resident making $12,400 a year, the tax would save them $6 while they are still taxed $1,800 a year.

The bigger problem is the tax’s impact on small businesses, which are just starting the economic recovery from Pritzker’s COVID-19 lockdown orders. A progressive tax would mean up to a 47% tax increase on over 100,000 small businesses, the state’s most prolific jobs creators.

Taxing retirement is not a new idea in Illinois. Former Chicago Mayor Rahm Emanuel proposed taxing retirees with incomes over $100,000 last year, while the Civic Committee of the Commercial Club of Chicago proposed taxing retirement income over $15,000 per year.

The Chicago Sun-Times editorial board even tied the two together, writing "Pritzker’s progressive income tax plan can set the stage for far greater tax fairness. Next, that tax should be expanded to include the highest retirement incomes."

Former Democratic gubernatorial candidate and former state Sen. Daniel Biss also agreed with Frerichs’ position that a progressive tax is needed in order for Illinois to tax retirement income.

While government leaders argue for more taxation, Illinoisans want to move in the opposite direction. A 2019 poll by the Paul Simon Public Policy Institute found 73% are against taxing retirement incomes, while just 23% believe it is a good idea. Illinois is one of three states that does not tax retirement income.

With no retirement tax, Illinois can more easily retain retired workers without losing them to more tax-friendly states. Since 2013, Illinoisans over age 65 have been the least likely to move out.

Illinois' tax exemption for retirement helps retain state's older residents

Connecticut’s progressive income tax hits single filers on $50,000 and joint filers on $60,000 of retirement income. Unsurprisingly, Connecticut loses retired residents at a faster rate than Illinois.

If the Land of Lincoln changes tax structures and imposes a progressive income tax that taxes retired workers on their income, these trends can easily change. More Illinoisans over 65 will pack and move to states with better climates and lower tax rates.

Illinois leaders who want to ensure fairness and economic recovery should protect the current tax structure. Progressive taxation and taxing retirement income will not fix the state’s spending problem, but will send more jobs and retirees to other states.

Originally published by Illinois Policy on June 24, 2020. Published by permission.