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.
Regardless of what the state mandates- when did the average taxpayer vote on taking care of public workers for life? I do not recall any ballot or referendum that voters agreed to this. These lifetime deals were made behind closed doors without any public scrutiny whatsoever. When enacted by the General Assembly politicians catered (caved) to special interests and not to the general public’s best interest. These obscene property taxes (Rockford) are just theft of equity which should be a crime. Ask yourself what would your home value be at 1% hard cap of total value. I would agree to… Read more »
Freddy: Totally agree. Unfortunately there’s no definition of an “unreasonable seizure” by the govt, of our money and/or property. Otherwise the taxpayers could sue and win, because our federal Constitution prohibits unreasonable searches and seizures. And it seems that many confiscatory taxes and tax rates, are “unreasonable” !
Oh, and not just “taking care of public workers for life”…….but ENRICHING THEM.
Well, same thing I guess.