-- 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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1.) Per article, TRANSFER TAX is for funding homeless service providers and not necessarily payments directly to homeless or housing providers (rent). Hmmmmm, I wonder which group of CTU/Brandons buddies could be trying to get in on the homeless services providers racket, who advocate that there are 68,000 homeless the majority of whom are “living doubled-up” (i.e. kids), as the population of school age children shrink in Chicago?
2.) Apparently, there nothing stopping using TRANSFER TAX going to service providers of “new arrival” migrants. I guess they count as homeless as well?
It already passed but the citizens won’t know that until AFTER the election to make it legal.
Hmm, a graduated RE Transfer Tax. What’s next? I propose a RE Transfer Tax withholding mechanism. This could be tacked onto a property tax bill in lieu of a future sale. Kinda like taxing unrealized gains being proposed by some progs.
BJ, if you need anymore revenue raising ideas just get in touch with Mark or Ted. I’m here to help.
They will continue to slow roll until the „spend it or lose it” deadline comes. Then it will be frantic, hair-on-fire set of behind-closed-doors spending decisions that will inevitably hand wads of cash to cronies.