Notes on Chicago K-12 Tax & $pending Practices
Some context: The average Chicago teacher salary is $94.3k compared to $63.8k for the average American (or 47.8% higher). As of 2019, the average Chicago teacher pension benefit was $6,376/month (eligible at age 55) vs $1,783/month for Social Security in 2024 (eligible at age 62).
I realize there is variation between individuals and the average, and the numbers get skewed by teachers with more tenure and higher pay. I also think teachers do vital work, and it can be a challenging profession. We need to be honest, though, about what we can afford as a city. Especially so given our structural deficits, unfunded pension liabilities, distressed credit ratings and an already uncompetitive and burdensome tax regime (sales + property + state income taxes, which together rank among the highest in U.S.).
Moreover, compared to other states, Illinois residents pay the 5th highest amount of their income toward public K-12 spending in the U.S. (at 4.5%, or $21.8k) – and spending is materially higher for CPS compared to the rest of state (at around $30k per pupil). Spending isn’t the main issue…
I get that many have taken a hit with inflation and
