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.
It cannot be a “Fair” tax as long as Pritzker is able to avoid ANY Illinois tax on his income from a Caribbean Trust , let alone a FAIR tax.
Great analysis Leslie! All you hear from Ralph is how we don’t spend enough at a state level. Anything outside of a pension adjustment should be a non-starter. If this amendment doesn’t pass, maybe some of the difficult decisions that MUST be made will be forced. NO VOTE HERE!