-- 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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No one in Illinois should pay their own bills, taxes included.
Let someone else pay them, who cares who it is as long it is not me.
Do not pay medical or student loans, rent, utility or any other kind of bill.
Another attempt to buy votes from poc
Will these beneficiaries of OUR largesse be 1099’d and incur the tax liability?
Great question. A 1099 should be for the full value of the initial claim, not the small fraction thereof paid by the state to buy the claim.
Why did I even waste my time buying health insurance?
Why did some people pay off their student loans by working extra jobs and do without many things?
Why bother working when guaranteed income is now handed out?
So the people doing this BS can stay in power to keep doing this!!