-- 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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There are no $1 mil homes being built or ever will be here in Rockford unless tax rates drop dramatically Taxes would be $48,563.82 with a tax rate of 14.83% of 1/3rd value. This is 8 times higher than in Colorado with a rate of approx .6% of total value. Business pay the same rate and yet all the taxing bodies always needs more money. Always!!