-- 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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Vote with your feet and leave Taxistan.
Stop being a tax mule for the corrupt public sector unions!!
A property tax freeze doesn’t mean anything. When the freeze is over, the taxing bodies will still get, one way or another, all their tax revenues including the lost revenue from the freeze.
Not going to happen. A HUGE PENSION TIME BOMB IS EXPLODING. Taxes will double every 5 years of the next 50 years of more. Multimillion dollar pensions have to be funded by the taxpayers. The only way out of it is to get out. Hundreds of thousands are fleeing every year.
The remaining 30% are renters to stupid to realize that property tax increases on landlords are passed through to tenants.