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.
Property taxes are done on a local level with most of the money going to the school districts. If the pols want to do something they should get involved with all the school negotiations. Whatever the outcome of the contracts the state is not even allowed at the table but they have to pay approx 30% of the final deal. Also the state should crack down on pension spiking above the legal 6%. This raises the pension and costs taxpayers more money at the local level with property taxes and at the state with income taxes. There are many aspects… Read more »
Tax relief is impossible without spending cuts or hiking tax in other areas. Tell me what tax would you like hiked so that property taxes can be cut?
THEY NEED TO DO WHAT THEY SAY AND KEEP THEIR HANDS OUT OF THE COOKIE JAR………HELP THE PEOPLE FOR A CHANGE NOT THEMSELVES!!
I propose a tax credit for families with a dog, 300 no 600 since it’s so expensive to feed and take a dog to the vet. My comment is just in humor, but since when did the government become the gate keepers of a free society.