-- 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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Illinoisans, don’t wait for Guv. Jelly Belly and the Dems to fix the sky-high property taxes you pay in Taxistan.
Vote with your feet like I did over 20 years ago and leave!!
Best financial decision I ever made.
Not going to happen. Property taxes fund pensions. Pension costs are growing rapidly and last for generations to come. Taxes will only go higher and higher. Soon pension costs will take over as the single largest expense to the taxpayer. Much of this money will be sent to another state to help another states economy. The prediction is very grim to say the least.
“Illinois needs to address spending reform.” There, I fixed the headline.
The article reveals Pritzker plan-he will frame increased education funding as property tax relief. Left unsaid is where he will get the money to increase education funding. Spoiler alert – it will come from you, and probably will result in you paying even more money than you did before. He can’t order school districts to lower their tax rate.
They all talk tax relief when they are running for office. Didn’t he just sign the largest Illinois budget ever last week. Unfortunately, the majority of voters can’t understand (public schools)when you want government stuff, your the one that is paying for it.
All the while Johnson is eyeing Mamdani’s higher property taxes on ‘white neighborhoods’. Pritzker has proven over and over and over that no lie is to big to tell to dupe voters not paying attention.
Where is all the money going from the tax on gambling, the tax on cannabis? They need to revisit ever program in place and start cutting back where it’s not necessary – like giving themselves raises for starters, and reforming the pension program.
Never going to happen. Elon tried and every Dem screamed.
Sales tax on services will be the proposed fix, J(ail) B(ird) will call it the best of both worlds
100 percent Tom. It’s not if but when.
Wouldn’t that cause a large exit from IL of service-based businesses?
If a company wants to perform the service in Illinois a tax will be collected. Moving out won’t change that so why would a profitable service based business leave the state just because the individual using the service now needs to pay a tax?
Yeah, okay. Sure. That will not happen under Pritzker, and probably not under any Illinois Governor for many years.
In coming years Translates into kicking the can down the road, and letting someone else deal with it
“We need to address the property tax problems that face people across Illinois,”. Delete the word property, Governor.
Property taxes are to pay for something you have paid for. If you don’t change the price you pay and limit those costs then it is just unicorns and leprechauns. Or change the process and limit property tax rates and starve the beast. Neither way gets done in IL.
Appeasing the masses. I vow to cut property taxes if elected. Said with fingers crossed behind back and lying thru his teeth. Unfortunately People will believe him .
Needs a plan to cut BILLIONS from the budget first, he’s had 7 years to do this and wasted all the federal money on new programs without funding.
IL needs to bounce trust fund Guttman and his “ Tax, tax, tax!” cronies out of office.
Election coming up…he needs to get some good word of mouth going. Jumbo JB doesn’t give a rat’s rear about fixing property taxes…just a good sound bite for the ad campaign.
Wow, what a good idea, Governor. It took you only seven years as Gov to realize property taxes are a problem. I can’t wait to see all your new ideas, and the ideas of the Legislative Study Commission, and the reaction from your union bosses. It is really is a hoot to watch you act like you really give a darn about the problem.
Once again, any so-called property tax relief would be more than offset by tax and fee increases elsewhere. As Illinois residents, we know how this works. So, what we have here is much ado about nothing.