Commentary: Without a plan to fix the state’s finances, the graduated income tax is a bad idea – Chicago Tribune*

E. Scott Santi and Kelly R. Welsh lead the Civic Committee of the Commercial Club of Chicago: "Despite our many competitive advantages — our diverse economy, broad mix of industries, talented and diverse workforce, outstanding educational institutions and research facilities, central location and world-class transportation network — our job growth is far below our potential and significantly lags the national average and our peer states. And soon, we won’t be able to afford the investments we need."

 

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Mark Glennon on AM560’s Morning Answer: Chicago pension buyout plan mostly shifts debt rather than eliminating it, property tax surge doubles inflation over three decades

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.

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