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5th District Ratowitz: Where Does Rep. Quigley Stand on Taxing Retirement Savings?

April 30, 2010 | Filed Under Chicago, Cook County, David Ratowitz, Elections, GOP, Government, House of Representatives, Illinois, Republicans, State Government, Warner Todd Huston | Comments Off on


5th District Ratowitz: Where Does Rep. Quigley Stand on Taxing Retirement Savings?

From the Ratowitz for Congress campaign (5th District)…

David Ratowitz, Republican Candidate for Illinois’ 5th Congressional seat, demands to know: where does Mike Quigley (D IL-5) stand on taxing retirement savings?

U. S. Congressional Candidate, David Ratowitz (IL – 5), wants to know: “where does Mike Quigley stand on taxing retirement savings? Just this week, Democrats in Congress said they wanted to tax IRA and 401(k) retirement accounts. Obviously, Mike Quigley doesn’t care about us, otherwise he would oppose tax increases that target our retirement savings and destroy jobs in the District.”

Chicago, IL, March 12, 2010 – Long time transparency and pro-liberty advocate Candidate for U. S. Congress from Illinois’ 5th Congressional District, David Ratowitz demands answers from Congressman, Mike Quigley (D –IL 5) regarding his view on a Democratic proposal made earlier this week to tax IRA and 401(k) savings accounts.

“Most Americans have relied on the tax advantaged savings of IRA and 401(k) accounts to save for their own retirement and protect themselves from a failing social security system. Democrats in Congress have no plan to save social security and no plan to balance the federal budget, and now they want to attack our ability to protect ourselves from their failures.” Ratowitz said today from his Chicago office.

“Unfortunately, we in the 5th District cannot take for granted that our own Congressman will advocate for us. In the past, Quigley has sided against our interests whenever it benefited him personally. For instance, Quigley has accepted large contributions from the Federal Employee’s Union and voted for their benefits at our expense; Quigley accepted contributions from out of district liquor distributers and introduced a bill that protects their monopoly and restricts our freedom of choice as consumers and harms the brewers, restaurants and other small businesses in the District.” said Ratowitz.

“Mike Quigley is supposed to be our Congressman and he needs to take a stand as our advocate. Will Quigley protect our savings, or is he on the side of the extremists in his own party who believe that saving our own money to take care of ourselves in retirement is a “tax entitlement”; and that the government should plunder our IRA and 401(k) accounts to avoid fiscal responsibility?” Ratowitz said.

On April 26th, Rep Jan Schakowsky, (D-IL) a senior Democratic member of the White House fiscal commission stated that reducing or eliminating “tax entitlements” were on the table. Schakowsky’s office confirmed that “tax entitlements” referred to exemptions aimed at helping people save for retirement, such as IRA and 401(k) accounts.

“A government that breaks its promises whenever it doesn’t feel like acting responsibly is a tyranny and not a government of, by and for The People,” said Ratowitz.

Entrepreneur, Army veteran and activist David Ratowitz is the Republican challenger for Illinois Congressional District 5 representative. The Ratowitz for Congress campaign platform advocates a limited federal government, across-the-board tax cuts, fiscal discipline, accountability, free markets and individual liberty. Learn more at www.ratowitzforcongress.com.

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