-- 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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Money is finite. If you’re now spending $200 at the dispensary, that’s $200 you’re not spending at, say, a restaurant. I understand the state would prefer you spend your money on marijuana, considering its exorbitant taxes, but the money has to come from somewhere. No different than a casino.
Money is finite? The overall economic pie can and does grow. That money spent at a dispensary doesn’t just stop circulating. The employees, vendors and others in the supply chain that profit off the dispensary now have money to spend as well.
I would argue that money spent at a local restaurant helps the economy more as it circulates to working people as opposed to money spent at a dispensary where up to 40% goes to taxes. Probably a lot of money that bypasses the dispensary and goes to criminals due to the excessive tax.
The cannabis economy certainly contributes to and grows the economy. But at what cost? There is a growing generation of unmotivated and unproductive stoners sitting on their couch watching Netflix and playing video games. I personally know more than several adult stoners who spend their lives stoned doing little to no productive work.
“I personally know more than several adult stoners who spend their lives stoned doing little to no productive work.” Chicken or egg. Do they sit around all day and smoke weed because they are unmotivated or were these individuals that were going to set the world on fire but then they started smoking weed and became unmotivated? Plenty of anecdotal evidence like yours that shows that people can contribute to society and also enjoy weed or alcohol. Did these people that you personally know just start smoking cannabis after it was legalized or were they blazing away well before 2019?… Read more »
The stoners I know cranked up blazing to 11 in January 2020 upon legalization. They may have been a 5 before legalization. …$120,000,000 a month in weed sales at $60 an 1/8th is a lot of pot. That’s roughly 2,000,000 baggies of strong weed sold at 1/8th of an oz every month *. One person can get high most of the day off an 1/8th flower for a full week…..Figuring an 1/8th a week for a heavy smoker, that’s 500,000 people buying weed at least once a week. That’s not insignificant. Round that out for weekend warriors and there’s millions… Read more »
“They may have been a 5 before legalization” How are you measuring their increased usage. Do they talk about it more because the stigma is being removed? How much do they use now vs. before? They were on the couch before and they are still on the couch now. Their right. “strong weed” Sometimes I drink bourbon instead of beer. I don’t drink the same volume of bourbon as when I drink beer. I’m able to adjust my intake. I’m sure cannabis users can do the same. “Round that out for weekend warriors and there’s millions of smokers out there… Read more »
In the good old days they would at least make tie dye t-shirts to sell at the Jerry Garcia concert.
Perhaps now the competition from China is too stiff.