-- 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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JB keeps telling me that Illinois is the greatest! Does he mean the greatest ripoff? You pay the highest taxes and get nothing for it. No wonder people are fleeing, and yeah, they are fleeing. No matter what Governor Carnival Barker tells you.
Now layer on top of the tax ranking what that hypothetical family gets in return for it’s local and state taxes. Is it possible to rank IL -F?
Any state other than , Illinois, New York , Jersey, Iowa are OK .
El Gordo wants it all, watch out America
Pritzker wants all of your money, if you
Need money he will tell you to remove your toilets in your home to lower your property taxes. What a putz.
My accountant, based back in IL, just got done filing our taxes. Owed nothing to SC. Her comment was, I have to start looking to get out of IL and moving to a state like SC. People with any financial intelligence realize IL is definitely not tax friendly.
Oh, c’mon! Stick around! It will get better! IL will magically transform into a corruption free state that doesn’t take every penny it can for its miscreants and fat pig politicians and their cronies. It’s only been a cesspool for pretty much the last 125 years!