-- 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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Seem illinois with all its absurd # of taxing bodies from state to county to municiplalities is completely 100% dependent on ths csp & cas providers for online tax collection. I bought some Avalara (AVLR– up +129% ytd) a couple years ago in my ira….looks like i’ll be buying some more tomorrow
Government greed is insatiable. Thankfully, no private corporation is as greedy as Big Government
Read the article and then try to do Chinese arithmetic with a broken abacus . Illinois creating a giant complicated taxing system and then urges those affected to use a certified service provider, another most likely politically connected entity that will have all the data and systems ready to go on day one, to get thru the process. WTF!