-- 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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A good example of the IL death spiral: 1. raise corporate taxes, and the corporations move out; 2. raise residents’ taxes instead, and the residents move out; 3. go to #1.
Need to keep raising taxes to pay for all those illegals and also foot the bill of Governor JB Pigster’s portion since he tends to rip toilets out of his mansions to avoid paying taxes, taxes are only for the little people suckers who he hates, keep voting democrat all you stupid democrats because the government just loves you so much lol how stupid do you have to be to vote democrat lol the gene pool definitely is at its lowest point in human history for people who vote democrat
https://www.npr.org/2018/10/03/654201077/illinois-gov-candidate-removed-mansions-toilets-to-dodge-taxes-report-finds
Democrats have to raise the corporate taxes to pay for their Leftist agenda. I see a 12% corp tax rate in the very near future for IL.
This is why Illinois has to offer excessively generous tax credits to entice businesses to set up shop here. The businesses want to be paid upfront, or at a minimum be guaranteed they won’t be disadvantaged by coming to Illinois. Why do the so called journalists not cover this situation? Ask questions at the daily Pritzker propaganda events for once.