-- 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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Actually Chicago has a lot if room to raise taxes on the bungalow belts. Those taxes are among the lowest in the state as a percentage of market value.
Among the lowest in the state still means among the highest in the nation. People shouldn’t compare Chicago suburban PTs with Chicago PTs and say Chicago PTs should be higher. Just because Chicago suburban PTs are obscenely high doesn’t mean Chicago PTs should be. Chicago PTs are only ridiculously high.
Yep, zero sympathy for Chicago home owners. Let them pay $1K or more a month property taxes like I had to while living in the collar counties.
Pay up, sucker!
The hell with Chicago Peeps move now save yourself!
Next you’ll be forced into Chicago micro level audit. Any money above documented expenses belongs to Lori and Porky. Naturally those with zero expenses, Leaches, will be exempt and unaudited.
Chicago received almost 2 billion dollars from Uncle Sam and they still have to raise taxes what more needs to be said
Unlike the suburbs, Chicago gets to rely on corporate, tourism and entertainment revenue which keeps their residential property tax lower than it would be otherwise. Now that these other revenue streams have dried up, why should I care that they have to raise property taxes?
Chicago’s books are balanced on external sources and DINKS. We’ve already seen the economic impact downtown when the commuter and business traveler spigot slows to a drip. Wait until yuppies start cutting their time as Chicago residents short.
My daughter and son in law just left Chicago had enough!
Can anyone provide a list of reforms since JB took office which saves taxpayers any money? Then compare that to a list of all tax increases.
A sound Democratic plan…….raise taxes. Any plans to reduce waste? Give aways?