-- 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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There was an article in WSJ last year about how remote workers are moving to small towns, usually much smaller. Why stay in IL to be disrespected by civic leaders when you can move to Texas and do the same job for much less out of pocket? Instead of worrying about how many are moving out they need to worry how much gross income is moving out. This article is free BTW, I didn’t have to log in to read it.
In another life PPF was a Soviet commisar collecting exit taxes from Jewish emigres.
When Illinois fiscally implodes a he’s gotta go back to “work” he should consider this type of “occupation.”
Illinois is now the kiss of death for business. The last kiss will be a goodbye one and a 1 finger hand gesture to all the greedy government workers who has destroyed the quality of life for the hard-working family man. PPF and the likes of him can KISS MY A$$ as I leave.
Maybe we should start a real estate transfer tax of around 9%. That way when you leave you can also send me one last check.
What haven’t you left yet. You keep telling everyone that they need to leave yet you haven’t done so yourself. Come on PT. Get on it.
PPF (and the likes of him) has sold more real estate in Florida and Texas than any other person. All the retired Chitty of Chicago cops are in Punta Gorda, Florida. Chicago is not a safe place to be anymore.
Lol PPF is also a resident of DeSantis’ Florida.
Great idea!
PPF, I left Taxistan over 20 years ago and have almost $200K in da bank to show for it!! I got da last laugh you guvmnt mooocher.
It’s a tough pill to swallow, but our progressive/communist IL leaders don’t care. They really don’t care. Like Vladimir Lenin one said, you must crack a few eggs to make an omelette. And our IL leaders are willing to sacrifice businesses – which is ultimately tax dollars and resident’s jobs – to achieve a progressive utopia. And if you don’t like it, then you can leave the state too. IT IS EXACTLY WHAT THEY WANT YOU TO DO.