-- 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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If you can’t or won’t properly enforce the exemption, it shouldn’t be there. They waste resources chasing their tails on things they are never going to be able to adequately police.
Let’s do a check on Lightfoot, Preckwinkle, Foxx, and Evans primary residence tax assessments and exemptions too. Let’s check same for long-time senior-level department managers, aldermen, county commissioners et al, at City Hall and Cook County Building. Plenty of surprise unearned exemptions too whenever media checks perks of Chicago and Cook County officials.
Don’t forget Duckworth! She makes $174K as Rep.
https://chicago.suntimes.com/2021/10/1/22700932/tammy-duckworth-disabled-veterans-property-tax-exemption-cook-county-assessor-homeowners-pay-nothing
Although I personally dislike her and everything she stands for I don’t have any quarrel with any breaks that she receives as a disabled vet. At one point she was patriotic enough to serve her country and lost her legs in combat. She earned those breaks through her sacrifice. Now, about that $174,000 pay as a Senator. That should be zeroed out as she has done absolutely nothing in Congress for all of the people of Illinois.
Zero instutional controls (governance aka oversight–words that are unspoken in Illinois political circles) on abuse involving anything in Illinois that has millions (or billions or trillions, in the case of fabulous public sector pensions and medical benefits)…ie property taxes and IDES…etc. Only “whats in it for me”…no fiduciary altruism in our elected officials….