-- 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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Consider da Dems pols in Illinois and Sheeetcago and their masters da public sector unions like a Black Hole.
How do you stop da Black Hole from sucking in more and more of your wealth via higher and higher taxes.
Get as far away as you can from it.
Illinoisans, vote with your feet and flee da Illinois Black Hole!!
Can’t believe any regular reader of WP is surprised. When are all you stubborn Illinois people going to get a clue as to how high taxes will go and how badly the infrastructure/services will decline? Also, once those fleeing Chicago see your jump in suburban taxes, they will look elsewhere for a new home, causing the suburb homes to suffer loss of value. Get your heads out of your … the sand. Covid gave you a few extra years to get out of Illinois and you squandered them. That house you should have already bought in a red state is… Read more »
” no society has ever taxed it’s way into prosperity ” Thomas Sowell
WHAT? Why do they need more money? Round Lake CUSD has LOST 12% of its students since 2019, going from an enrollment of 7,080 to only 6,239 students in 2023, a decline of 12%. In what world does losing 12% of your students translate to: WE NEED MORE MONEY FOR FEWER STUDENTS (interestingly enough, 84% of the school is ‘low income’ and 38% are English learners, nearly all of them being Spanish speakers. And the ESL rate has skyrocketed from 28.5% in 2018 to 40% in 2023. There’s your illegal immigrants, folks! What about Aurora 131, also mentioned in the… Read more »
I think people will be furious when they see the next tax bills (for 2023 that will come out soon). Lots of big increases.
Same here in Evanston – school enrollment is down, but they are stupidly spending $60+ millions on a *new* school. Several neighbors who got their property tax bills here recently had increases of 25+ %…
It’s not just property taxes but home insurance went up a lot. I have Farmers at least till I find another company and my rates are up over 50%. I was in line yesterday returning something and while waiting I spoke to the guy in line and his rates are also up almost 50% (he has Farmers) plus his property tax bill went up. People are furious but what can be done?
Pretty much nothing, my state farm agent said one word to me when I asked him why the steep increases, Demographics.
I think I went to school with Tony Kenilworth.