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.
“The amendment does not itself change tax rates. It gives the State the ability to impose higher tax rates on those with higher income levels and lower income tax rates on those with middle or lower income levels.”
So, the amendment doesn’t raise tax rates, but it allows imposing higher tax rates.
Which would mean, YES, it will mean higher tax rates.??♂️
But if you’re fool enough to think your taxes won’t go up, vote yes. Just don’t cry when, you know, your taxes go up.
What? You can’t understand “Do you not not want a tax hike? Y/N”?
The tax hike on the ballot is so confusing I suspect many people will skip over it. Not sure who that helps.
One question, why did they wait so long to file a lawsuit. It will get held up in the courts and the election will be done and over, I don’t get it, what am I missing.
I agree…
It’s highly doubtful a judge will remove this from the ballot…