-- 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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Did i hear right??—Harmon talking about, if passed, using fair tax revenue to bail out school municiple prop tax levies in exchange for prop tax relief..is this the sales job the machine will push in the end
You got it. Pritizker, Harmon and company will be routinely implying that the Fair Tax will provide property tax relief. It’s bunk. The money has been dedicated elsewhere and even if it were entirely applied to reduce property taxes it wouldn’t make much difference.