-- 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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Raise those taxes! Double them. Triple them. I’m sure the businesses and people are not even close to being smart enough to go elsewhere. Pond scum is smarter than most Chicagoans.
Apparently the worst mayor in the US has nothing better to do than come up with illogical, surreal schemes that even Kwame tells him won’t fly.
What will that do to the sales outside Chicago vs inside Chicago? Just like the Cook county sugar tax prompted consumers to buy their soft drinks outside Cook county.
Nothing to argue about start making cuts, abolishing positions period.
Luckily for BJ, there are so many other sources from which to increase or create taxes and fees. Throw enough **** at the wall and something will stick!