-- 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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Karl Marx would be proud
Why don’t we just stop the charade. Just confiscate the million dollar homes and give them to the couch dwellers too lazy to make something of themselves.
Increasing taxes on “x” to fund “y”. So visionary. And change it *after people bought property. If these advocates were ethical, the tax would only apply to properties purchased AFTER enacting the law. Then at least homebuyers know what they’re getting into. Even I’d be down for that. Guessing these advocates wouldn’t be.
How about setting aside some of the tax revenue from cannabis sales for housing?
TRY FIRING ALL THE DEAD WEIGHT IN CITY GOVERNMENT AND THERE WILL BE PLENTY OF MONEY FOR HOUSING
Confiscating those properties would probably house many more than 12,000 families. It seems to be getting illegal to own anything. Too much must be redistributed. What variant is infecting these politicians tax and spend brains?