-- 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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First it’s call an “amusement tax” on streaming services. What if what you are watching is not amusing? What about all the murders and mayhem you’re watching on TV and out of your window? You may become agitated and suffer from anxiety and need to get some Valium. Would you get reimbursed the cost of your medications since you are not amused at all? You would get depressed so would you get a refund on your tax?
Nothing like another tax to satisfy the ever hungry pockets of politicians. Spend it faster than it comes in because it’s freeeeeee!
This is like the Dick Durbin mantra that federal gasoline taxes needed to be raised since cars were getting better mileage. Government has an insatiable appetite for your money. If you change your behavior they’ll tax you more or invent new taxes.
You’re right. For example, many people think they’ll dodge the high gas price bullet by buying an EV. Of course, the less gas-powered vehicles there are on the road, the more expensive it will become to operate an EV due to increased taxes, fees, surcharges, and electric rates for government entities to make up for the lost gas revenues. Also, it would take many years to justify paying $40K or so on an EV based on saving gas purchases.