-- 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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Ok here is what I do not understand or get, maybe I’ve just had enough of this crap. No.1 Illinois collects 38 per gallon gas tax, No. 2 will county now receives 3 cent per gallon, No.3 my property tax bill has 1 township collecting for a road fund, No.4 my village receives a road and bridge fund. All of this for roads, so why just why do I and others have to pay for the township and village if will county and the crooked state is collecting for road construction. Were the hell is all this money going, Something… Read more »
Illinois already has some of the highest motor fuel taxes in the nation and is one of the few that places sales tax on gasoline sales as well. Naturally it is never enough for the Illinois progressives and it won’t stop ever until somehow States are allowed to go bankrupt letting a Judge rule the budgetary constraints; obviously the voters can’t.
Or we could allocate 3 of the 19 cent gas tax increase for municipalities.
Absolutely amazing. So the 45 billion infrastructure boondoggle won’t help towns fix their roads ? I pay a tax to my town which is also for whatever it takes to help run the town. This includes keeping the infrastructure in good shape. What the heck is everyone doing with the crazy amounts of money we already pay ?
In all the talk where it is going,that money will be used for all kinds of nonsense in chicago.If you are out side of chicago you pay and get nothing.We moved to a southern state,NO STATE INCOME TAX! The dumpster fire that is illinois is only going to get worse.The money goes to chicago,Or maybe legal fees for the red light political crook.He came up with the big jump in gas prices.
IL is 12.7 million people and 20% of the state, roughly 2.5 million people, are on medicaid. Medicaid takes over a full quarter of Illinois’s state budget, for somewhere more than $12,000,000,000 dollars. The numbers are hard to come by, the Kaiser Family Foundation says IL spends $22B a year, but other figures say it’s between $11-12B, and it’s not clear how much, if any, of this money is reimbursed from the Federal Gov., or if the $12B is just IL’s share after reimbursement. I do have a full time job so I can’t spend too much time figuring this… Read more »