-- 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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With excessively high property taxes no one should lose their homes to unpaid taxes unless fraud is suspected. On your tax bill it clearly states that partial payments will not accepted and your check will be returned and then eventually a tax sale. In the Illinois Constitution Article 1 Section 1 says we have certain rights of life liberty and the pursuit of happiness and to secure these rights AND the protection of property. That last part should also be argued in court to include protection of property from the tax man. We can have security/cameras/gates/deadbolts and so on for… Read more »