-- 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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Property tax “fairness” to the Bears means they don’t want to pay taxes according to the law like every other taxpayer does. If they don’t like Kaegi’s assessment, then challenge it through the process like every other property owner does. What the Bears in truth don’t like is that almost no one wants to give them a tax break because all that does is shift the tax burden to someone else. And all the puff about the massive development– hot air. There is zero market for all that commercial and retail now and in the near future. Thousands of residential… Read more »
Other places give massive tax breaks to their sports teams. But the difference between the Bears and the other teams, is that the Bears were 3-14 last year, last in the NFL, and had the worst winning percentage in franchise history. As this was AFTER a complete overhaul of the front office, coaching staff and roster. Other cities/states bend over backwards to give competitive teams new stadiums. I almost guarantee you that a 10-7 Bears would be having a different conversation. The fact that Waukegan seems interested in the Bears tells you all you need to know.
Good point.
Bears are fudging their didies avoiding discussion and analysis of the obvious issue: they demand billions from local public taxpayers for their private-profit residential/commercial development.
They are reported as touting creating millions$ in new tax revenues, but media are silent about the billion$s in tax costs which their ancillary project will create as a new burden for AH residents.
Residents better gain control of their school boards over there. I could easily see the Bears pull out for two reasons – school districts getting greedy with dollar signs in their eyes, and the fact that there are low odds that this Chicago-controlled state legislature will pass legislation to aid moving out of Chicago. Then what comes of the property? The powers that be say we are a sanctuary state. The illegal economic migrants need someplace to live. The state constructing tenant housing there could bring the thousands of residents Old Spartan is looking for. As for the schools at… Read more »