-- Connecting the dots between our economy, government and business --
"High levels of inequality distort free markets, reduce investment, impede entrepreneurs and slow overall economic growth."
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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Minnesota has a graduated tax system, considered one of the most progressive in the country, but also has the second biggest income inequality gap between blacks and whites in the entire nation. Meanwhile, the same study ranks no-tax Texas and flat-tax Kentucky as having the smallest gaps.
Another lie the Fair Tax team is spreading.