-- 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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Where are most of those tax dollars going? To the local school districts which continue to have larger and larger budgets every year with declining enrollment. There are close to 11 separate school districts within a short distance of Homewood. Flossmoor/Hazel Crest/Thornton/Brookwood/Prairie Hills/Bremen/Harvey/Bloom/Brookwood to name a few. Is consolidation ever discussed? Each has their own super and supporting staff. All top heavy in administration. Many are already taxed there into oblivion thanks to Ptell which is in Cook County but not Chicago. https://tax.illinois.gov/content/dam/soi/en/web/tax/localgovernments/property/documents/ptellcounties.pdf
Average Illinois property tax rate – 2.25%
My property tax rate in CO – 0.6%
Stay in Taxistan and keep paying up for public sector union simpletons!!
I voted with my feet over 20 years ago and have an extra $200K in my bank account.
Da Judge
Pay up, Suckas!