-- 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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Getting really tired of foreign lineage politicians pushing the failed policies of their native countries in America. If we wanted a country like India, Pakistan, Somalia etc. we would move there.
Hey democrats, FU no more taxes.
Don’t worry folks. It’s impossible for this plan to be implemented. I’m told that Illinois is already the highest taxed state in the union and it’s impossible for the state to raise taxes any further. Nothing to see here.
It’s a small tax, but it has almost no chance of passing anyway. Pritzker doesn’t like it. Also, I would agree with commenters on here that IL can’t raise taxes significantly anymore. They will be forced into doing significant cuts in time, perhaps much more.
Of all the stupid ideas to come up with…with all of the financial problems the state has…with all of the enormous taxes the citizens of Illinois are burdened with….this is what these morons come up with?! Spend more money, create another useless department, more government hires and pensions to give away yet more and more tax payer money on entitlement programs. Could we please focus people!! Good God.
This, without any doubt, is one of the dumbest ideas to come out of Springfield in years. And, with the state lawmaker’s history of proposing stupid ideas, says volumes.