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.
Simple, shrink the gubmint, lower the taxes. Dimocrats are to corrupt to take that path. .
Eliminating or severely reducing property taxes would do nothing to reduce the draconian tax and fee burden on Illinois residents.
To continue to feed the myriad of bloated offices in Illinois, Illinois and its taxing bodies would figure out in the blink of an eye how to recoup that lost tax revenue via increases in other taxes and fees.
That doesn’t make sense, and then that’s cheating local governments; it’s cheating the schools, the parks, the fire and police.” Lowering, controlling, eliminating property tax in some form is absolutely needed. Though, I do not hold out any hope really that anything will ever be done. Democratic State Rep. LaShawn Ford thinks that moving in this directions is some how “cheating” local governments, Friggin Schools, parks, fire and police. Cheating? Really? You got it backwards dude – The property owners in Illinois have been getting used and cheated on for decades and really have NO VOICE in state government. Yes…I know,… Read more »
There’s so much legacy pension and infrastructure costs built into the system that eliminating property taxes would shift the burden elsewhere. The 10 percent sales tax would become 20 percent, and it would cost you $800 to renew your car registration instead of $150. I personally know teachers who plan to retire in their 50s with six-figure pensions. To fix this problem, we would need a sustained political revolution to elect Republicans, not RINOs or Combine Republicans, but MAGA Republicans, who would go on a scorched-earth campaign to slash pensions, cut spending, amend the constitution, hamstring the unions, and more.… Read more »
100%.
House Bill 4626. -CA did that, time to study the very bad consequences before doing it here.