-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
And then the politicians wonder why we have an “Illinois Exodus”.
Gotta tax you one more time after all. Then tax the one year anniversary of death then why not tax every three months after that. Headstone tax for each letter engraved on the stone, don’t forget a real estate tax on the grave. Are you under a tree? Double tax! Nice view? Tax that too. Of course this is after a lifetime of taxation and double taxation and retaxation. Hell why not a percent tax on your taxes? Illinois is embarrassing. RIP Illinois