-- 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 will cause more people to gamble the old fashion way with a bookie under the table and no taxes will be paid. Look what happened in California with all the regulations and taxes on pot growers. Legal vs illegal and what it costs. No different in Illinois.
Also look at all the people who live close to any border state in Illinois when the gas taxes doubled. The other states gas stations had increases in sales while those on our side closed because they could not compete.
https://getnugg.com/blog/the-shocking-reality-legal-vs-illegal-cannabis-production-costs-in-california/