-- Connecting the dots between our economy, government and business --
"Once again, proponents failed to recognize the compounding effect these policies have on businesses that are already struggling to make ends meet due to an alarming number of anti-business proposals by the City, continued supply chain and labor challenges, persistent crime, and skyrocketing property taxes," the coalition of businesses opposed to the ordinance said in a statement.
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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There is no good reason for workers to put in any more days than a public-school teacher. 180 days a year, just raise the cost of everything to cover the additional expense. All workers should be treated the same as government workers. No better or worse.
One of the big $winners$ will be lawyers going after, and defending, businesses to collect paid leave bucks and all the mom & pop businesses that pay in cash or pay as 1099- independent contractor employees…as 3/4 of all the restaurants currently do. In my NW side, supposed middle class neighborhood, there’s already a ton of empty storefronts for decades. Expect a ton more.
That stretch of Norwood and Gladstone park is sadly vacant. You can tell from the quality of the buildings that it used to thrive. But all of those residents apparently moved to Park Ridge or Edison Park now.
The short-term solution for employers is to reduce their employees’ hours to under the 35-hour threshold. Longer-term solution is to move their business out of Chicago.
Not sure what that would do Mary.
It’s prorated based on the number of hours worked.
All businesses in Chicago exist only at the pleasure of the regime, and only to further the goals of the regime. And it will only get worse.
Most business only exist at the pleasure of the local government. In my suburb, dispensaries are not allowed to do business because the local “regime” decided as such. That local regime was duly elected by the voters and they decided that they don’t want those types of business in their town. Sure we lose out on tax revenue but the people have decided that this is more important than money. Chicago is also following the perceived will of their voters. Chicago duly elected leaders have decided that business can’t operate in their town without providing specific paid leave benefits to… Read more »
That’s right, and the businesses need to understand how politics affect them. If you own a business and vote for someone because you get the warm fuzzies you deserve it. It’s a new regime that puts union interest above business interest. Sit there and watch profitability decline or move to a business friendly city/county/state.
I agree Robert. The real question becomes, will the voters realize that their voting choices are making business leave? Do they understand that grocery stores leaving is a direct result of their voting? If they don’t understand that they will continue to get more of the same.
Will the voters realize that their voting choices are making business leave? NO Do they understand that grocery stores leaving is a direct result of their voting? NO I don’t think voters understand the policy and ramifications behind all the feel good things politicians tell them. “We’re going to better the lives of working people” how many voters understand that means union employees and not them. “We’re going to make the justice system more equitable” did voters think that they would eliminate cash bail and make it more difficult to lock up habitual criminals. “Open borders, no one is illegal”… Read more »
Totally agree.
Just like Bring Chicago Home tax, paid leave ordinance will immediately be passed on to Chicago consumers, renters, etc..all great news for seniors and others on fixed incomes