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.
The continuation of a tax is not the same thing as the imposition of a tax. No one will see any increased budget impact from continuation of the tax. !% of food sales is less onerous (both by volume and by change in actual cost of living) than 10% on hair cuts, nail salons, plumbers, electricians, or $1.50 per delivery. The 1% going fully to the City would be very helpful and would represent no new expense to taxpayers.
The whole point of Pritzker eliminating the tax was “It’s one more important part of lifting the burden on Illinois families”. So do our Democrat leaders want to do that or not? What Pritzker did was a really selfish move designed only to promote himself. He pissed off all the local leaders of Illinois towns and cities by putting them in a uncomfortable position for his own benefit. In the end, I would guess that most will move to reinstate the tax, making it a useless waste of time.
How about a five percent pay cut for all city employees including teachers?
They have a contract so you can’t legally take it from them. Not like BJ would do that anyway.
5%?
Look at state or even more national averages, they are way overboard!
I think 5% would be doable and not cause undue hardship.
How about 1/3 pay cut except for cops and firefighters. And layoff 1/3 except for cops and firefighters. There will be no change to city services.
Nope. How about a retroactive raise for CTU members back to the first day of the 20024 school year followed by a 4-5% raise each year through 2028 instead? Yeah, I think the city will go with that plan.
So explain again the idea that people are trying to steal from pensions. Because it sure sounds like you like the idea of diverting tax money from pension payments to other purposes. But that can’t be, can it? Because everybody knows that the tax money belongs to pensioners.