-- 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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This is how Illinois taxes retirement income.
Now the state is stealing money from families of addicted gamblers. This breaks up families and causes great heart aches for tens of thousands of people. Children will go without need supplies so the state can collect revenue need to fund overly generous pensions. The state is despicable.
How long before we hear that video gaming disproportionately victimizes people of color and there needs to be reparations?