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.
His entrepreneurial perspective makes absolutely no sense. If a flat tax somehow discourages entrepreneurship, how does that explain no-tax states like FL and TX consistently ranking near the top states for entrepreneurs? Even flat tax Utah ranks as one of the best states to start a business. No doubt this guy is bright, but he’s a little dim on tax policy.