-- 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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Chicago taxes on residential properties are no where close to being high as they are here in Rockford/Belvidere and most suburbs. We are at approx 4% of value in Rockford but the last few years home values are up a little due to low inventory. We were at 5.25% of value a few years back and at the same time Chicago was at 1% or so but commercial and industrial were higher to offset residential. All of our properties here have the same tax rate except for farmland. When Chicago residents start paying $52,500 on every million dollar value then… Read more »
Freddy is right. Chicago taxes are not that high compared to other towns in Illinois. Time to pay for the much needed services and raise taxes in Chicago.
Pritzker should also cut spending in all the trump counties that voted to leave Illinois. No need to spend money on people that hate Illinois. Send that money to CPS so we can fund a fair contract for teachers. Time to play hard ball.
Sums it up very well!