-- Connecting the dots between our economy, government and business --
Ted joined Jeff Daly to talk about why Illinois is losing young, wealthy millennials to other states. Why should they stay in a city like Chicago, which only promises more crime and higher taxes? The loss of entrepreneurs and businesses means Gov. Pritzker has to resort to subsidies to get a single win: a Chinese company making EV batteries that the federal government won’t use due to security concerns.
Read more from Wirepoints:
If this bill passes, say goodbye to local control over all Illinois parks and expect to see open drug and alcohol use, needles, no sanitation and fire hazards, but no ordinary park users.
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.
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Audio and summary
Why wouldn’t young go getters want to stay in Illinois and pay high taxes, high crime, bad schools and worsening labor market? After all, they can watch the Cubs and go to restaurants. Bread and circuses work on the simps, not the intelligent.
I was consulting for a telecom supplier in the Bahamas during a major expansion of the Atlantis resorts. Locals were hopeful the project would create jobs, but the contract went to a low-bid Chinese company. They brought in hundreds of their own workers, along with housing, food, medical staff, tools, and equipment, leaving little for the local economy. This pattern repeats wherever they go—accepting financial incentives without benefiting the local workforce. Many entrepreneurs are smart business people, but inherited wealth makes you rich but doesn’t always translate to wise decisions.