-- 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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Is this meant to be a joke? The rebate will not even cover the increased cost of license plates and gas tax plus property taxes went up a lot for many due to all the raises employees got in all the local taxing districts.
They just keep trying to buy votes for the suckers (sheeple) out there. It is a joke. They have been stealing our wealth for decades. They owe us thousands more for what they have taken.
I forgot one thing and that is the property tax rebate has 2 important words. “Up To’ $300. It says that the maximum from income AND property tax is $300. Most people see the $300 but not the up to part thinking they will get the entire amount. Those couples making $500K will see $300. That means most people will get less than that. It would be better to rip out a toilet or two and cut your taxes in half.