-- 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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Why are the properties only ATM machines for the local taxing bodies? What “services” does the property NOT the residents need? Fire and police come to mind. It is the occupants that are being taxed many for services they do not need or want. Like seniors do not need the schools but have to pay for them regardless. Look at the breakdown on your tax bills and see how many itemized bills there are on them. How many do you use or need? Plus the most important thing is your taxes are based on the value of your home so… Read more »
What happened to the democrats mantra of “tax the rich?” The rich alway manage to find a way out, like Pritzker with his toilets.
oopsie-daisy