-- 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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4 cents a gallon increase in DuPage County. Most people won’t even notice. Many more stealth taxes like this to be added/increased in the coming months. Your government needs more money.
As you point out those little stealth taxes like a half a cent here and a quarter of a cent there and before you know it the sales tax has practically doubled.
Just saw some alderman wants to start adding an Amazon package tax to items shipped to your home. $1.25 per package under 50 pounds and $2.50 for over. Taxes need to go up. Chicago needs more money.
As voters in DuPage turn more toward Democrats, expect taxes to surge. Reap what you sow. Wait till they see how Lauren votes on sure to be upcoming federal tax legislation. She will follow her leader, Pelosi.
The article said it all. Most affected would be low income earners, first responders and essential workers. Democrata are your friend, right.
Also affects any sales person or service person that has to drive. Even though my SUV gets 15 mpg this tax will have no affect on me. I don’t like it though because I think low gas prices really help the economy. The other negative is DuPage c-stores may lose gas sales where they border other counties. I’ll be sure to fill up when I take my kid to school in Bloomington.