-- 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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“Progressive revenue “ in democratic terms means more taxes . They don’t know anything else but TAX the $hit out of everyone.
Things that never entered Johnson’s Marxist/ progressive/ BLM mind: Reducing his security detail and putting those officers on the streets, saving a hundred plus new hires; kicking loose several vice mayors at 75K a years salary; paring the aldercreatures down to four or five districts rather than the far too many in place now at 125K a year; closing half empty schools and consolidating them and their do nothing staffs; quit paying bogus police brutality/ civil lawsuits at the drop of a hat and lastly stop financial aid to illegals and other wasteful social services.
Has Chicago ever CUT the budget, maybe it’s time for a first. EVERYTHING 10% CUT, starting with employee’s.
No problem, just sell more bonds – debt never needs to be paid. Right Leftist Democrats?
Dear Alders, pass the tax on groceries before October 1, 2025 and it will be effective on January 1, 2026 to provide more revenue than if you ditz around and do it after October 1. Start a novena to support the Cubs going into post season play (ticket tax and other revenues) to help the shortfall for this year. Close under-utilized bastions of ineffective education. Set an example of leadership in times of crisis. Give taxpayers some sense that you are not simply “full of sound and fury, signifying nothing.”
Before it was tax the rich . Now it’s tax the super rich . Guess the rich ran out of money.
No, they realized they’re the rich (public sec rich)
Bingo! Notice they don’t use the words “rich” or “affluent” anymore to describe who they want more money from, because they’ve become rich/affluent on the backs of taxpayers. Now they use words like “ultra-rich” to exclude themselves from their target groups to go after.
The rich ran out of town. The super rich are revving up their jets now
A call to thier account and a few clicks to tranfer stuff on the computer and it’s bye-bye for the well to do….not so for us “middle-class” shmoos.
There couldn’t be a stronger message to the very rich and large corporations – stay far away. If those groups take the hint, this clown is guaranteeing that the average taxpayer will be the ones carrying the full load for the extreme overspending. Knowing this, it will be hard to take the average Joe and Jane seriously when they ask why taxes and costs are skyrocketing here.
Higher and higher taxes for as far as the eye can see Taxpayers will look back at today as the day when taxes were low. You have not seen anything yet, taxes will double in the next 5 years.
“How did you go bankrupt?” Bill asked.
“Two ways,” Mike said. “Gradually and then suddenly.”
Ernest Hemingway, The Sun Also Rises
Geez. I guess maybe we should not have spent $900 million on illegals.
The number starts with a B not a M…