-- 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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This will not affect 90% of anyone in Illinois. Becuase the smart people that have large estates have already left or claimed residence in another state. As for the farmers the land is slowly being devalued into the dirt anyway so they will not be affected, so this is just a tax on the stupid people that stick around
It gives people more of an incentive to leave the GD state.
Farmers thought they could hide – not so.
Just more Illinois Democrat stupidity.
Lowering the $4M threshold is next. Let’s see, plan A is stay in Illinois and my children get less in inheritance to pay for illegals, or plan B is move out of Illinois for the benefit of my children. I’m going with plan B.
This is nothing but Communist income redistribution.