-- 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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So the “ultra rich” start at one million. Somebody needs to tell you one million does not buy you what it used to. Then again Johnson was never very good at math…even when he tried to teach it.
Ugh, such overly tired and flawed logic to increase taxes on the rich to offset Chicago’s wasteful spending from mismanagement of taxpayer funds. He really needs to s***can this idea and come up with something better.
Heather Cherone, Wilmette Talking To Winnetka typist on behalf of the DNC, takes more of Mayor Cliff Notes’ talking points and regurgitates them to the world. This time Mayor Notes, basking in his 15% approval rating, again trods the sodden ground of ‘tax the rich’ so he can ‘invest’ in his chosen subgroup of Chicagoans. It’s quite simple. Mayor Cliff Notes has zero understanding of how community investments get made. His scope consists of only taxpayer-funded freebies and capital assets, mislabeling them as generic ‘investments’. By definition an investment is specifically made to generate a return on that investment. Mayor… Read more »
Why is it always raise taxes to fund their agenda? Here’s a novel idea Mayor Raggedy and the rest of the mental disordered liberals…cut spending to fund you boondoggle.
“Mayor Raggedy” I literally laughed out loud!
Also more like Mayor Ed Grimley (Martin Short on SNL)
Doubling down on the wacko, who does Brando think is still buying the kool-aid? Or more importantly, who does WTTW, ST-WBEZ, etc think is still buying the kool-aid?
My recently deceased twin was a native of Illinois, one of its best ever athletes and a world class PhD economist and institutional investor. When asked what he wished people knew about economics when they had discussions, he responded that he wished people knew of the concept of scarcity. Case in point – Johnson’s statement that there is room for everyone. Given Chicago’s incredibly dismal and insolvable finances, well, that statement is wildly wrong. Worst yet, Johnson has incredible headwinds before him and has little demonstrated talent for dealing with.