-- 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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It’s bad enough that we have sanctioned parasitic businesses like gaming and sports book that feed on the least affluent in our society. Now the Democrats want tax that (and them) too. Groceries, gambling, will they tax the air we breath next?
In Peoria we already have a ‘rain tax’ and a ‘flush tax’ – Could see these going statewide.
Does this mean that instead of the 1% state portion of the tax on groceries (Don’t forget that localities already add their own 1% to the bill) we will now get an additional 1% local sales tax on everything? Many municipalities already are stealing 10% and more in sales tax. And you can be sure that they will go for the cash because, as we all know, it’s all those people coming into town from other places to buy stuff who pay the sales taxes and not local residents. Right? That’s how they sell these local taxes to all the… Read more »
So, what did eliminating the state grocery sales tax accomplish if the COP and County put one in place, which they claim they must? Pritzker and Democrat budget games to give the appearance of cutting a tax?