-- 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
In Michigan it’s 13.5 cents per liter for wine up to 16% alcohol. That makes 51 cents per gallon. Michigan also has a wine industry in the Traverse City region. There may be an Illinois industry. I’ve just never heard of it.
Off we go to the adult beverage store after being trapped at home for several days due to snow and bitter cold. We will be taking a short hop over the border into Wisconsin where lo and behold no additional taxes!
Make sure to top off the tank while on the good side of the border.
The Chicago area attracts a lot of cat loving aunt wines who take jobs in HR. A high wine tax is a lucrative revenue generator.
Exactly, debtor, it’s no lie… I once had one of these HR types, and she boasted of her two favorite things, “A good chardonnay, and making my own greeting cards…”. I guess the high wine taxes did not allow her the luxury of being able to afford *buying* her greeting cards lol…