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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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Another blow to Chicago’s tax-base. Mayor Johnson’s administration should check with LA Mayor’s Office to see how badly LA’s own “mansion tax” has damaged LA’s “mansion” real estate sales market. Negative impact is real; many sellers have converted their “mansions” into high-end rental property instead – delaying anticipated payments of new tax penalty on expensive homes. Democrats can enact new/higher taxes on real estate, but market ALWAYS responds. Illinois Chicago metro area has some of the highest real estate tax rates in US, and one of the weakest residential markets in regards to appreciation and comparative home-value. Inevitably these taxing… Read more »
I DON’T CARE IF THIS LAW PASSES. Steve Bannon once suggested that maybe Republicans should be in favor of higher taxes, because why should Republicans care if Democrats want to tax themselves at insanely high tax rates. So I don’t really care if some Chicago lakeshore Democrat – who was stupid enough to purchase a seven figure property in Chicago – pays a higher tax rate. I don’t care if some dumb landlord – who was stupid enough to invest in a socialist $hit***e – pays higher taxes. Real estate investment forums and circles have been screaming for years “DON’T… Read more »
The best possible thing that can happen to Chicago is that the checks start to bounce. Same is true of nearly every other municipality and school district in IL.
YEP…..YA GOT IT CORRECT
“The ruling means the Chicago Board of Elections will count ballots cast…”
Counting ballots isn’t the same as counting legal and validated votes.
2020 CAN ANSWER TO THAT!!