-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
They need to send out invitations and do PR. Hiding in the shadows isn’t going to do anything.
Well, BJ and his progressive-n-anti capitalist cabal need to figure out how to actually start taxing someone here pretty quick. BJ campaigned on taxing airline companies and financial transactions and Chicago employers, and the ‘burbs in some way or the other. None of that’s happening either anytime soon, or anytime at all. Promised he wouldn’t raise property taxes. Said he never campaigned in support of a Chicago income tax. Clock’s ticking. Won’t do him much good to finally pull some sort of ‘new revenue’ tax across the finish line two years from now. Not unless he plans on taking advantage… Read more »
CME will be moving soon, just wait and see. Lots of business are going to be leaving as the taxes keep going higher and higher. The public unions have set everything up for economic disaster.
Consider da Dems pols in Sheeetcago and their masters da public sector unions like a Black Hole.
How do you stop da Black Hole from sucking in more and more of your wealth via high and higher taxes.
Get as far away as you can from it.
Illinoisans, vote with your feet and flee da Illinois Black Hole!!
For some reason I thought of Kamel Ho as soon as I saw the phrase black hole.
If you notice there is NEVER any spending problem. NEVER. Only a revenue problem. Don’t you wish that we could spend whatever we want then get a raise to pay for it.
This is going to pass.
If this tax is approved — it will be applied to every sale within just a few years
Yep, that’s how the income tax was birthed. It was originally gonna be paid by the “rich.”