-- 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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Dear One Illinois – Please provide the ratios as to what taxpayers could expect in property tax relief per every dollar extra collected from the state by income tax bracket..Because if I’m only going to get 20 cents back in property taxes for every extra dollar I pay to the state, no thanks.
Want relieve on property taxes have the damn teacher’s pay for there own pension and health and welfare. End of story problem solved