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.
I noticed this article in the National Review sidebar–a good companion to their story on the Illinois “Fair Tax.” Among other things, it mentions how transplants from high-tax, high-living-cost states bring their “liberal proclivities” with them when they move, and how they simply don’t see the connection between their home state’s politics and the living costs.
Arizona’s Tax Disaster: Refugees from Blue States and Other Infuriating Explanations. Tagline: How did the home of Barry Goldwater end up passing the largest tax increase in its history?