-- Connecting the dots between our economy, government and business --
Summary and audio linked here.
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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Audio and summary
Anderson is right that something like this would take compromise but he is not offering enough. If we want to exempt people that have been here for 30 years then we would need to get the money that is lost from somewhere else. Perhaps start taxing pensions and IRAs in exchange for eliminating property taxes for seniors. Someone living modestly off social security paying 5-10k in property taxes is in a tough fiscal spot. Someone making 100-200k in retirement clearly can afford this more easily. Property taxes are too punitive to seniors but if we aren’t willing to start getting… Read more »
“If the compromise is to go to 50 years, fine, I’ll take that starting point,” said Anderson.”
Bill just got filed and the sponsor is already folding.
I think this bill is great! It’s never going to happen.
I would settle for no school taxes on my property for those over 65. For me that would be close to $5K per year savings. I do not use or will ever use the public schools. Maybe community college and I still have to pay for courses plus what I pay to community college is based on the value of my home. I would rather pay more for courses as long as they don’t tax my home. But on the flip side I don’t have many more years to live at almost age 73. I have seen so many people… Read more »
Like hell, Freddy. You have 25 years left on your obligation to Wirepoints to report from Rockford area, and don’t give us any crap about no pay, or we send you to DOGE with recommendation for immediate deportation.
It would give me 3x that however the problem is if you (and I) don’t pay it someone else has to pick up that shortfall.
The first thing I would like the state to do is apply a 10% service fee (not a tax) to all state pensions for people who no longer live and contribute to the state taxes while earning a very generous pension from the state.
That would violate federal law. You can’t tax pensions when people have moved out of state. You keep making this suggestion even though you’ve been told several times it’s not allowed.
You are right but if you are in a PTELL county of which there are 39 out of 102 anyone getting any deduction like homestead/senior/veterans or an abatement for a time the tax rate increases to make up the difference. Ptell guarantees that all the taxing bodies cannot get less than what was levied (not collected or billed) from the year before. So if seniors would not have to pay school taxes the tax rate would go up to compensate. The rate would determined in any given area on how many people get the senior deduction. In Indiana they raised… Read more »
Service fee, my arse; it’s a TAX by another name that applies to a specific group, your hated presumed enemies, I’m sure. It can’t be done legally in that sort of way.