-- 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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Anyone with a brain would get out of Illinois and go to Florida.
Lets See how it works.
No State Income Taxes, Nice weather year round. A fiscally sound state with a balanced budget.
Housing prices that are steady to higher. Low to medium property taxes. Great schools in the good areas.
No GREEDY COPS, TEACHERS AND FIREMEN with $150,000 a Year Pensions that increase at 3% per year and do not pay their fair share of taxes like Illinois.
Get out and do not look back.
The quality of life is much be any where but in Illinois.
There are other states that are also good choices besides Florida but you are correct, anything is an improvement over Illinois. Unfortunately, people focus on the incredible hassle of getting out and don’t do the math. Illinois and other states are moving in opposite directions and the wealth gap is just going to widen. You make the point repeatedly. I make the point repeatedly. I guess some people just like to stay and complain even though there is an alternative. Some people truly are stuck in Illinois for good reason, but most are making excuses. In the end they are… Read more »
And there’s where the sympathy ends.
Those that choose to stay in Illinois can enjoy the agonizing pain & suffering of staying there.
Maybe when they are living on the streets with nothing they will wise up and get it.
Financiers have been moving their operations out of high cost locales like London and NYC for over ten years. Ten years ago it cost international banking firms $2million to support an executive employee in NYC or London, but only $200,000 to support a similarly productive executive in India. For centuries, physical proximity to other financiers was essential to maintaining business support and personal contact among people in the business. With the advent of the computer and contemporary communications, trading and research can be done from the beach in Florida or the beach in Vietnam. NYC banks have been moving functions… Read more »
I wonder if this move will result in a permanent loss of business for IL and NY to FL.
Hmmm. Maybe J.B. could learn about leadership…. Hahahahaha. That presumes he is capable of any learning at all… My bad… Sorry.
He could lead you to the buffet line but get in front of him because nothing would be left if he went first
Did they say Hi to Mrs Jabba?
Is Griffin going to be filing state income taxes here or Florida? Because losing him would leave a big budget hole.
Don’t worry.. A progressive tax on the rest of the people will fix that.. LOL. It will make more high wealth people stay.