-- 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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Well that’s Illinois for you. One of the highest tax jurisdictions for the living taxpayer in the country and it’s still not enough. We discuss how to get even more when you’re gone!
JB should tax people by the pound just like at the deli.
JB will be loathe to reduce or eliminate any tax when he has so many extreme progressive issues he wants to fund. He probably dreams about creating a drag queen bingo league that plays competitively at pre schools across the state.
The calls to increase this tax or lower the threshold are sheer madness, just pushing more wealth to flee.
Start by taxing all of the Pritzker Crime Family’s Offshore Tax Evasion Billions