-- Connecting the dots between our economy, government and business --
Summary and audio linked here.
Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.
Expect no retraction or apology. This what they do.
The state’s existing buyout program for its own pensions is the precedent for Chicago, which should be a warning: Look out for similar exaggerated claims and shoddy analysis.
Full interview and summary linked here.
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If people are not driving to work they are telecommuting. The county could literally get billions in taxes by taxing the three big cloud services for all data egress coming into cook county companies that use cloud data centers. Billions, not millions. They should tax Microsoft Azure, Amazon AWS, and the Google cloud data centers for all data egress. Basically put a utility meter on those data services that counts bytes and bills back. There would literally be no need for any consumer sales or property taxes, the taxing of food could be eliminated. The taxing of data flow will… Read more »
$200,000,000 is alot, don’t get me wrong, but that’s not crazy.
Keep in mind folks, they’re going to dip into your pocket to get that money, and more, and they’ll take it one way or another. Soon they’ll be taxing the air you breathe.