-- 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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The thing to remember is the tax rate is based on the total spending for all the overlapping jurisdictions on your bill. That’s why there is no 1 to 1 correlation between as assessed value increase and your property tax bill. So who exactly is spending more, and what is that money being used for?
LOL, he’s just wants to consolidate more power in Springfield. It’s not like they’re going to lower my tax bill. Springfield will instead take over the revenue streams and then institute a backdoor ‘income’ tax by increasing real estate taxes year.
Taxes are too high because government spends too much money. And now with Amendment 1, its nearly impossible to fix.
Can you imagine the response if the headline read: As many White homeowners get hit with big property tax increases, local politicians scramble for fixes – Illinois Answers Project
Do these doofuses not recognize the hypocrisy?
Stupid chickens.