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Comment: At Wirepoints, we did the calculation ourselves and confirmed that Gotion is eligible for about $7.5 in federal tax subsidies, in addition to the $536 million from the State of Illinois. Gotion has clear ties to the Chinese Communist Party.
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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They probably are, legally. But as a tax payer in the once great state of Illinois , I find it morally objectable.
Many products found in Walmart come from China. Chinese products are everywhere. Many American agriculture products are sold to China. Trading with each other benefits us all. Your Apple phone was assembled in China. Lots and lots of things come and go from China. I like Chinese food.
LOL the chinese elites don’t even eat chinese food. They import their food from Japan and Australia.
International trade can be a fine thing, if health and safety get adequate attention. But using public money to subsidize a company, whether foreign or domestic, is never necessary. (We could, of course, have a long discussion about what is a “subsidy,” but in this case there’s no question.)
We shouldn’t be trading with communist countries, period.
The Commies are laughing hysterically at this deal What a bunch of buffoons in Illinois. The math on the subsidies is so obvious. The fact that these are the bad guys ripping us off is so obvious. Illinois is a clown show on the international stage.