-- 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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This study fails to include the value of public benefit programs–Medicare, Medicaid, SNAP, public housing assistance, aid to the disabled, etc. It also fails to include any proxy for cash income that is not reported to the IRS. It is misleading as it compares only one dimension– reported taxable income. The true multiples are lower.
Good point, but there are many other studies we will be aggregating soon showing that “equity” is indeed a hug failure in Illinois.
Despite all the progressive Democrat mayors, governors, count board presidents, and unions. The connected rich get richer and everyone else is on their own.
And yet somehow they will never conclude their ideas don’t work in the real world. They sounded so great in all those college classes!
A waste of an article. Simply put, you get paid what you can personally convince someone to pay you. End of story.
Anything else is simple theft, usually by government.
Evidently, the author went to journalism school, no doubt to ‘make a difference’ or ‘change the world’ with their pro bono lefty ramblings.
True, but it’s yet another study among many showing that we are near the bottom even on their central policy goal of what they call equity.
I have no doubt that Chicago is very inequitable. 100 years of complete and total Democrat control of a political entity tends to do that. And I’m not being hyperbolic. In a former life, I worked with thousands of different low income in various aspects of their life as part of my career. These people are poor and they live in a completely, an utterly completely different world that you can I. For starters, as WP routinely points out, they can barely read or write, and their ability to understand things that we consider to be basic in modern life… Read more »
Were the hundreds of fraudulent PPP loans taken out by ( sorry) a majority of poc and Taxwinkle’s “ guaranteed income “ taken into consideration by the author of this thinly veiled argument for reparations?