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.
This is a great example of why Government can not be trusted regarding taxes or anything else for that matter. The “Fair Tax” is a dodge and a con. It enables politicians to more easily raise taxes on everyone. I know I am preaching to the choir here, but I am not sure how anyone would vote for this, think about it…Illinois is already in the top 3 state in the US as it relates to taxation of its residents. Even with all of that tax revenue…its still not enough. This is not a taxation problem, it is a spending… Read more »