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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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“But even if the “no tax cuts” condition passes constitutional muster, its naked attempt to impose tax homogeneity across the country shocks the conscience. “ Wake up! If any of you think that Democrats don’t view our country as anything but a partisan war in which they’re “going to get theirs” then you haven’t opened your eyes and ears. Everyone who voted Biden because of “mean tweets” should recognize that the Democrats know they have exactly two years to get everything they want. They are playing for keeps, and if you think that being polite is the first priority of politics… Read more »
Agree 100%. The progressive radicals have been working on this for decades, and it appears that we are now in the end game. No more stealthy incrementalism, blitzkrieg is exactly the word.
I only hope that those who thought they were voting for kumbaya will wake up before it is too late.
On the one hand, Dems snuck in provision that states cannot raise taxes if accepting ARP $bucks$ to not make pension bankrupt blue states, like Illinois, look bad. But then on ther hand, want to reinstate SALT tax deductions, which mostly favor the well to do, to stop the flow of rich folks fleeing pension bankrupt blue states for Florida. All in the name of social equity????
Ohio’s already filing suit in fed court to have ability to cut taxes on bases the restrictions are an unconstitutional infringement pn stetes rights. https://www.wsj.com/articles/the-tax-cut-ban-and-the-constitution-11616107345?