-- 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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The stupidity of Democrats is bottomless.
Go ahead Brando. I’m sure people will understand the need to hand over more hard warned cash so you can continue the progressive policy clown show.
Huh. He hasn’t figured out the positive correlation between more and higher taxes on outward migration.
Get with the program, higher taxes have nothing to do with the legacy of “systemic racist community disinvestment”. ..everybody know that…..$$$EQUITY$$$!!!
Next major corporation to pack up and leave
Will be, drum roll please, Macdonald’s.
Many others will follow. How’s about the
Chicago Stock Exchange/ Futures exchange.
This fine parade will be fun to watch, think the betting joints will give odds.
The CME/CBOT have prepared to have leases voided and be able to move out of the city if an “ill-conceived policy” is implemented by the city according to CEO Terry Duffy. It’s nice when a business can move their digital presence so quickly and easily to avoid really bad political decisions.
Allstate. They tore down their campus, they’re selling their supposed downtown HQ, and the rest of the company is operating out of a nondescript office building down the block from the old HQ.
https://therealdeal.com/chicago/2024/02/23/allstate-selling-wacker-drive-office-building/
And there are rumors swirling that United is about to leave Chicago too. And considering that the legislature has all but abandoned downstate for ‘wrongthink’, how long before State Farm leaves dumpy Bloomington? Few of these employees and their managers want to stay in IL either.
Maybe people are sick of being in a city run by children that haven’t a clue except GIVE ME YOUR MONEY!!!!
If this is a Chicago tax, what’s to prevent doctors, dentist, accountants, barber and beauty shops, etc. from moving to a suburb? Look what happened to the Cook County soda tax. People bought elsewhere.
A great reason for all the accounting, legal, tax and consulting firms to ditch downtown and move to the suburbs. A lot of office space open out here. Also good news in that we will not need more funds for mass transit to downtown. This plan would make it a ghost town no one would go too.