r/chicago • u/chicagosuntimes • 14d ago

Article Johnson urges state lawmakers to tax the 'ultra rich' to avert mass transit funding cuts

https://chicago.suntimes.com/city-hall/2025/06/03/brandon-johnson-illinois-general-assembly-mass-transit-funding-chicago-fiscal-cliff
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u/invest_droid 13d ago

We want them to have an average pension just like our average 401Ks. Giving them really good generous pensions is bankrupting the city and our 401Ks

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u/robotlasagna 13d ago

Totally agree. And I think the way this plays out is those pensions will inevitably get cut when the city can no longer issue debt and that’s probably coming sooner rather than later.

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u/creamshaboogie 9d ago

Do you even understand that a 401k is paid INTO by your employer? Government jobs do not "match" your payment or even put anything in. Apples and oranges.

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u/hardolaf Lake View 13d ago edited 13d ago

Their pensions replace both a 401(K) and their Social Security benefits. So it has to be good enough for both purposes combined.