-- 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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Anyone considering buying a vehicle out of state to avoid IL taxes should read included link (IL charges you the difference in taxes when you register the car here). I still recommend helping to screw IL government by purchasing in lower cost states. Please tell me government isn’t out of control. https://www.illinoislegalaid.org/legal-information/do-i-pay-illinois-taxes-when-buying-car-illinois
For someone making $50,000 per year, the $50 vehicle registration increase is equivalent to a .1% increase in the state income tax. Add a tenth-of-a-percent for every vehicle owned. That’s just one fees in a whole host of new and increased fees.
We should start compiling a list of all these new taxes and translate them to income taxes. Give folks an idea of what they’re really shelling out.
unbelievable, every year its the same thing, coming up with new ways to nickle and dime everyone to death, while at the same time talking about massive property and income tax hikes…
Mark, I dare you to tally up all the new taxes implemented since 2015, in Chicago, I would guess its around 100!
We left illinois and watch the burning dumpster fire from a southern state.You have to move to comprehend how you are not a citizen,nothing but a money makeing serf for the dems. thats all.I am a free citizen in my new state, and it is sweet to.