Taxpayers need hero to stop politicians

Illinois taxpayers are from planet Mongo (a fictional planet from the Flash Gordon serials) and our elected politicians and seemingly now local municipal employees are from Cornucopia (a fictional planet from the galaxy Largess, which feeds on surrounding planets for automatic pay raises and guaranteed benefits).

We now learn that the Illinois Municipal Retirement Fund has taken a major hit in its investment fund due to the recession. Unlike the residents of planet Mongo, who have to suffer their steep declines in their 401ks and other retirement investments, the municipal employees of planet Cornucopia can relax knowing that their benefits are guaranteed.

They are guaranteed by local municipality taxpayers that have to make up the investment losses ... through tax hikes.

Please don't argue that IMRF beneficiaries are no different then those covered by Social Security (IRMF beneficiaries do not pay into the Social Security system). Social Security benefits are not guaranteed. Next on the Obama administration agenda is Social Security reform, which could make the system "means tested," extending the retirement age, increasing taxes and/or cutting benefits.

Is the IRMF doing any of that to shore up their portfolio? When the market eventually bounces back will the municipal tax rates go down that were increased to guarantee IRMF funding?

How does the voting public, on planet Mongo, continue to let the denizens on planet Cornucopia continually feed on its resources with little regard to its own will being? Where's Flash Gordon when we need him?

Steve Sarich

Grayslake