-- 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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Although I voted No on the advisory question today, I don’t really care if Illinois’s mostly Democrat voting millionaires are taxed at a higher rate. My job is not to protect the primarily wealthy Democrats in the state. Their corporations don’t support our candidates, and they actively support every DEI initiative available, to your exclusion. Not my problem.
The proposed referendum is nothing more than a bait and switch. There is no reason whatsoever to trust the evil Pritzker regime. He is after significantly more of your hard earned money. No one should be confused by his promises, and the referendum should be voted down by a greater majority than last time.
JB just wants to sneak in progressive tax that was voted down.