Editorial: Dead set against higher taxes and layoffs, aldermen? Then come up with a better idea – Chicago Sun-Times*

"What matters right now is that every alderman who dreads taking a vote on higher property taxes, which is to say every alderman, step up and propose realistic alternatives...That $1.2 billion budget gap won’t magically close itself."
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Poor Taxpayer
5 years ago

Raising taxes is the only solution.
Taxes will double every 5 years for generations to come.
Huge pensions will not stop, only going to increase.

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Mark Glennon on AM560’s Morning Answer: Chicago pension buyout plan mostly shifts debt rather than eliminating it, property tax surge doubles inflation over three decades

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.

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