-- 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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They pay reparations, but fail to adequately fund their first responders pensions.
Make sense of that … I can’t.
Because the city is run by people with 580 credit scores. Paying bills is a hustle, you know. And when you’re using other people’s money to pay other people’s bills, well, the profligate son just screws it all up.
My town’s taxes also went up double-digits and everyone is outraged. Well, what did you think was going to happen? In the past six years, the same 3,200 progressives voted for every bond issuance, every facility upgrade, every new amenity, and voted for trustees and board members who give money away like the town has a printing press in the basement of city hall. OF COURSE! Everyones tax bill is going to shoot up to pay for all of this!
As it should. When you sit down and order dinner eventually the bill must be paid.
Our Des Plaines property taxes rose because the assessor decided our house value increased by 38%.
38%!!! Yes, if we sold we would see an increase over what we paid, but now that the taxes are skyrocketing, the amount we could sell for decreases.
Taxes should be based on what we paid for our property, not what it may or may not have appreciated in value.
Your property taxes are based on the value of your home relative to the total value of all the properties in your taxing area. If everyone’s assessed value went up 38%, your tax bill increase is not because of the increase in the value of your home. If your homes assessed value went up 38% and your neighbors stayed flat then you would actually see an increase because of your homes value. Your method of property tax assessments would result in the newer residents paying a greater share of the overall burden compared to their percentage of the total taxing… Read more »
Clearly, your analysis is correct. But make no mistake, we are being cheated. We are.
No we are not. We paying for the government that we voted into office.
All they are doing is taxing away the homeowner’s equity.
No. Evanston homeowners through their voting are happily giving away their equity. Nothing is being taken and these homeowners are not victims. The give-aways need to be paid.
100%
Hmm, reparations ain’t free…..
Mr upset Evanston taxpayer voted for it but now doesn’t like it and is upset. Ya just can’t fix stupid.
Also funny the article doesn’t mention the reparations Evanston is so proud of. How many $$$ are being thrown away on that?