-- 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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punitive taxes will kill any chance that Chicago draws job creators to live here
Good intentions are the values of the liberal, not good outcomes. Having good intentions (example: Lori Lightfoot) is all that matters to the Leftist/Liberal, regardless of the harm that’s inevitable.
“I mean, Johnson is talking about spending tens of millions of dollars to convert old LaSalle Street office buildings to residential use. Raising the transfer tax so much at one time could undo the progress the city wants on LaSalle.”
I guess that’s one way to look at progress. Many people would give an example of progress in a declining downtown of a major city as getting businesses to expand or move there.
If passed, would Bring Home Chicago tax be used for ‘new migrant’ homeless mess?