Audio: Wirepoints’ Mark Glennon says Chicago pension buyout plan mostly shifts debt rather than eliminating it, property tax surge doubles inflation over three decades – Chicago’s Morning Answer
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.
A recall election in Green Charter Township threw out five local Republican officials who had backed tax breaks for a multibillion-dollar battery parts plant tied to a Chinese company — never mind the project’s promises of more than 2,000 jobs for the economically depressed region. The Michigan project by Gotion is nearly identical to one proposed for Manteno, Illinois, about which Gov. JB Pritzker refuses to answer any questions.
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.
Illinois lost another 54,000 tax filers and dependents, net, according to the IRS. Since 2000, fleeing taxpayers have taken $94 billion of annual adjusted gross income with them.
I hate the Daily Mail, but sometimes they get things right. I love the pictures of the lock change.
https://www.dailymail.co.uk/news/article-12730107/Michigan-Green-Charter-Gotion-recall-election.html
Figures whose name would could up in this article, Sean Casten another traitor like his counterpart Adam Kinzinger. Politicians in this country will never ever learn, just make sure there pockets are lined with green backs, I can’t wait for the day when Pritzker is caught up in all this. Remember political elites are creator is knocking on the door.