-- 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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The Sun-Times is spreading lies. The Illinois real estate tax SALE system is NOT like the one utilized in Minnesota which the SCOTUS ruled unconstitutional. In fact the only common thread between the landmark Minnesota case and the story of Velma Lewis featured by the Sun-Times is that they both involved black women who decided to stop paying their real estate taxes. The real story is that Cook County blacks are grossly delinquent paying real estate taxes. THE MAP INCLUDED IN THE STORY TELLS THE TALE. Putting aside for the moment that real estate taxes tax unrealized gains and amounts… Read more »
This needs to change in Illinois, and quickly. Feel so bad for this poor woman. 😢
This doesn’t include, as a little bird told me, all of the homeowners who aren’t paying property taxes at all and remaining in their homes, as they should, as a result of said circumstances. Cook County is picking-and-choosing who pays property taxes. CC is in a Communist death spiral that no one wants to talk about.