-- 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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Clearly that list is in reverse order of causation. The flat tax in this state is not the problem. Several “normal” states surrounding IL are benefitting from a flat tax structure. Again, the IL narrative is so wrong. It is higher taxes, taxes on everything, always increasing taxes and more suffocating taxes.
It is the worst state for any class of people.
The F-Kings are the greedy government employees who move out ASAP when the pension kicks in.
High taxes to pay for huge pensions have destroyed the quality of life for millions of honest hard-working families. PPF only wants for him and does not care about anyone else.