With or without a graduated income tax, Illinois should get real and join 36 other states who tax retirement income in one form or fashion (Source: Kiplinger).
Fat cat retirees should pay a share in support of the need to deal with the state's deficits and debt. In fact, it's the public system retirees with guaranteed 3% annual pension increases who contribute largely to the financial mess facing Illinois.
A graduated tax on retirement income, exempting the low and middle class recipients but taxing those who enjoy pensions, IRA income and Social Security totaling well into six figures annually is needed.
In fact, those who move away and take their Illinois pensions somewhere else ought to be taxed at the source.
Sorry gray heads, we created this problem through our choices in Springfield over the past 40 years and now we have to be part of the solution.