-- 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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Why should seniors get a tax break? They are the ones that voted in so many of the spending programs causing the current havoc and therefore should pay their “fair share.” (full disclosure I am a senior)
Completely agree. We should also tax retirement income. No more free rides for the people that voted for our current economic condition.
This will do nothing for seniors other than raising the tax rate for everyone including those getting the larger deduction to freeze the home value at current levels.
The last paragraph about Ptell does not mention that the taxes will be the same as the year before plus raising the levy by up to 5% only that they cannot raise more than what Ptell allows.
Reigning in costs to where all the tax money is allocated to is never discussed.
Yup it does nothing like you stated, 1% of property values like Indiana but nobody has the enthusiasm or smarts to do it in Springfield there more concerned about prostitution.