-- 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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And everyone of those jobs can be done on the side for cash only . And trust me it will happen. Then no one gets taxed and the state suffers
Most of us can afford this nonsense, but who wants to? If this goes through, hopefully there will be a bump in the rate of exodus from Illinois.
If things get too ridiculous in Illinois with excessive taxes and fees (and that may not be far off), even the “proximity to family members” reason for staying here will go away for some of us. There are just way too many states that manage taxpayer money responsibly.
Cash economy, thank you gifts for helping with unruly hair, plumbing, oil change. Indiana, Wisconsin and Michigan are thanking Illinois for thinking of them in these hard times.
That’s all the DEMOCRATS know to do . Tax, Tax Tax . Never reduce costs always increase costs to consumers.
The article references but does not link to “a memo circulating around the capitol included a potential $2.7 billion statewide service tax.” Does anyone know the specifics of the proposal?