-- 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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This is not a fair tax. It is stated that billionaires will pay. There are 18 or so billionaires in Illinois almost half have the last name Pritzker or are related to the jerk that is supposed to be the governor of the state. Do you think that he would willingly dole out any of his money. There are loopholes and therefore they can afford to claim that their main residence is someplace else and will not be paying this money. It will then slide down to the rest of the Illinois citizens who pay taxes. It is not a… Read more »