-- 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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They really want their socialist utopia. Bunch of disgusting fascists.
The demoncrats continue to destroy Illinois with their mirth and girth of stupidity
Fifty years ago the IL Sec of State conducted a survey from the auto insurers and published the results in a neat little pamphlet for the public. I believe that this infuriated the insurers as this survey was never repeated. Competition is good for the consumer.
So lower risk zip codes will have their rates increased to offset the higher risk zip codes. And what about type of vehicle, will a Ferrari have the same rates as a Yugo. Amazing how little our politicians understand about how businesses operate.
And like everything else these so called politicians touch and get involved in they will screw it up.
All about the dollar in THEIR pockets!
The bill include a fee on total earned premium, but doesn’t specify premiums only on Illinois insurance holders. State Farm reported earned premium of $87.6 billion last year. Is the state attempting a backdoor income tax on insurance carriers?
State Farm just left +70,000 CA home policy holders to fend for themselves. That can easily happen in IL with auto insurance.
And if it is ‘a back door tax increase’, we know who will really pay – IL citizens with auto’s. Completely fits the Leftist Democrat agenda of forcing cars of all kinds to be less and less affordable.
Another way to crash the economy … by forcing institutions that work quite well to do contortions on their way to bankruptcy. The destruction of the whole one part at a time.
How many insurance companies will just stop selling car insurance in the state?
Yep – all of them. It is stupid and oh my, if it actually were to happen, can you imagine the DEI impacts on insurance rates and how the tax payer would subsidize those under-served communities…oh, this has disaster written all over it.
So ridiculous! How many uninsured illegal alien drivers are out there?
That’s the real reason for this proposal – illegals and the mayhem they are creating on IL roads.
I suspect Pritzker and the Leftist Democrats answer will be for taxpayers to cover illegal aliens.
Look at the border for the answer……and obiden