-- 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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Seems like the idea of appealing your assessment is to reduce taxes by reducing the value of your property. By that same logic why don’t we put that same energy into appealing the value our 401K’s/IRA’s/mutual funds/etc. After all if those accounts are increasing in value eventually you will pay more taxes down the road. With property we pay taxes yearly based on the value but in investments we pay when cashed in not yearly depending if it increased or decreased. What would your stocks be worth if you had to pay taxes on appreciation yearly? No where near the… Read more »
Freddy:
Good call!!
The problem is: most of the dopey Illinois taxpayers don’t have a clue of what you are talking about…
The bottom line however is, that the only way to reduce your taxes is to do just that.
This is what comes from “Voting Stupid”.