-- 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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It may be, and I’m gonna go way out on a limb here, that he didn’t think this one out very well.
BTW, how are these “tax the ultra-rich” initiatives going for Chicago? (They used to be “tax the rich” initiatives, but that scenario doesn’t fit anymore, since so many of our public sector heroes are now rich.)
So if your company is one of the only 3% to pay the tax, are you supposed to say, Thank you, Mayor, for choosing us, or No thanks, we’re out of here, where’s the nearest suburb?
The fricking guy is clueless and sinking fast. Stacey got him elected and then.left him when she got what she wanted. Pinhead got played . But he’s too dumb to realize it
The city has reached the point of “fill-in-the blanks” taxation where you start by determining how much money you need and then working backwards with a random word generator to meet the need.
McDonald’s is also talking about leaving Chicago. The head tax was abolish because it discourages businesses from coming to and staying in Chicago. How stupid is BJ?
Plenty stupid.
Panic Attacks has about as much business acumen as Janet ( Inflation is good! ) Yellen. Don’t listen to a clown that draws his salary yet won’t pay a 3K water bill.