-- 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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all the clean energy & EV subsidies are going bye-bye in rep tax plan, outlined today (https://www.wsj.com/politics/policy/republican-tax-plan-boosts-salt-deduction-ends-green-energy-breaks-57bc922c?mod=hp_lead_pos1).
But looks like dem machines going to get SALT cap lifted to at least $30gs, a green light excuse for machine to go for graduated income tax/ tax on millionaires.
Raising the SALT cap would truly be a give to those who are very well off. The SALT cap was, IMO, a crowning achievement during Trump’s first term. Very disappointing.
Agree. But Illinois dem machine won’t complain, they’ll just play it as Trump giving big tax break to well to do , so therefore we’re going to go for constitutional amendment graduated tax/ tax on millionaires (2nd time around). Which just like last time, they’ll try and pass with no income caps which will eventually hit us chumbalones.
I fear that, too. They will say top earners just got a windfall of 37% off the top of their federal tax bill.
And of course they’ll go for constitutional graduated tax with no reforms—no prop tax cuts, no consolidating 9,000 units of gov, etc, etc…and giant TIER 2 “fix’ for are gov heroes….’never let a crisis go to waste’ politics at it’s finest. Dopey taxpayers to put up little resistance as usual.
Hi Mark, why doesn’t the IL GOP push for referenda, even advisory, for property tax cap, Term limits, ending PAC money, stopping the lifetime Blue Cross coverage for legislators among other things?
Is there a Republican Party in Illinois? I notice both parties are really good at playing gotcha and pointing out fraud, abuse, hypocrisy of the opposition, but NEVER offer substantive reform.
I small a rat.
It’s very difficult to do. You can do it through the legislature but the Dem supermajority would block it. You can also do it by collecting signatures on a petition, but the topics allowable are very limited and the signature requirement is huge — I think it’s 8% of voters.
Somebody’s in trouble.
Mentioning JB the Hutt’s push to mandate impractical battery golf carts and Lion Electric in the same story will not get you invited on press junkets.
“Market conditions” = No one wants EVs
This small pickup truck, if it gets made in Belvidere or not, will be an internal combustion engine-equipped model, with maybe…maybe a hybrid model for those still under the thrall of the Religion of Climate.
Wow, can’t even pay them $300million+ to operate here. The great Illinois Bolshevik revolution continues forward comrades.