-- 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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All income should be taxed as ordinary income, at a much lower rate. It is a crime that wages are taxed at a much higher rate investment income. Loans against wealth should also be taxed as ordinary income.
Every communist should end up like their hero — Che Guevara — facing a firing squad
Isn’t it pathetic how the states that grossly mismanage taxpayer funds never have enough revenue and always are increasing taxes and/or creating new ones?
For those of you who know any of the super-rich, you also know, unless their accountants find major loopholes in this (should it become law), they’ll leave the state. Also, there will be plenty of desirable states in which “to hide.”
You would think that some of these blue State billionaires are contributors to democrats. When you do these policies it sure seems like those billionaires would move to a red State and potentially change their contributions? Certainly not all would change but maybe enough to change the huge advantage dems have over republicans from the billionaire donor class…???
Nowhere to hide? Are the blue states politicians so deluded that they dumbly think that all other states think exactly like they do?
Hmm, I’m surprised they haven’t started digging people up for gold crowns and wedding rings.
Just when i thought they couldn’t get any more retarded…