-- 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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I don’t care if mostly Democrat voter millionaires are taxed at a higher rate. If that’s what Democrats want, let them have it. Democrat millionaires are not looking out for me, and more often than not, they hate me, they hate my values and they actively try to harm me, either as an individual or part of a larger group of deplorables. If the professional class pays more tax, so be it.
Let’s call this bill the “drive small businesses out of Illinois” bill. There, I fixed the “millionaire tax” caption.
Good. Do it. You don’t need those businesses and rich people anyway. Your neighboring states thank you.