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.
Socialism is government ownership of the means of production. Where does he see socialism?
There is a lot of confusion about what socialism is. Democrats promote economic liberalism, hence the support for small businesses, bringing in employers, and so on.
I am not a Democrat, but that doesn’t mean I don’t know what one is.
Ownership of the means of production is part of the old definition of socialism that’s now widely regarded as outdated (though Mamdani recently endorsed that). Socialists learned that they can accomplish the same thing through strict regulation. The more widely accepted definition today, from folks like AOC, is that strict regulation plus guarantied, universal rights to housing, healthcare, food, etc., extremely progressive tax rates, heavy emphasis on equality instead of profits or economic growth. And if you think Dems promote economic liberalism, small business and employers, wow. I just don’t know how anybody could claim that.
When I was in college over 50 years ago I was told that Communism was government ownership of the means of production, as in the Soviet Union. And that Socialism was government control of the fruits of private ownership, as in Nazi Germany.
Again Pastor Corey Brooks needs to run for Governor or the Senate, time for some intelligent brain power in Illinois