-- 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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More taxes for the good Chicago voters…cool!!!
Chicago’s very own Kenyan said ‘You didn’t build that’ And everyone up and down Chicago nodded in agreement like zombies.
“As of Wednesday, that 3,158-square-foot property was listed for $1.05 million on Realtor.com which puts it in the crosshairs of Mayor Brandon Johnson’s proposed new “mansion tax,” even though describing this sweet but quotidian home as a mansion is patently absurd.” Not compared to where the people BJ says he’s trying to help live. Compared to where they live, that house is a ‘mansion,’ and they figure anyone who could afford a place like that must have more money than they really need. They ought to be taxed more to fix homelessness, or inequity, or racism, or whatever. Remember, these… Read more »
All taxes end up being paid for by the people who live in the community. No Free Lunch, unless you are a government employee (not a worker).