-- 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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Pass, don’t pass… in the end it matters little. It just changes the timeline for when Illinois can no longer pay it’s bills.
Doesn’t look good. Overall 44% Strongly approve. They don’t need a lot to get over the finish line when you start with those kinds of numbers. Republicans supporting the progressive tax at 41%. Ouch. Obviously it’s all in how the question is worded. I’m sure the results would look different if it said how many people support lower income residents paying the current Illinois income tax rate while wealthier people pay more. Surely some of those in support are under the belief that they would see a tax cut. I guess it depends on which message the people hear. My… Read more »
I actually hope this graduated tax passes. I hope they get the millionaires tax too. I would love to see more people flee this state.
How stupid is it to be this anti-taxpayer, when all the surrounding states are taxpayer friendly. It would be different if we were surrounded by New York and New Jersey.
I’m armed enough and I’m close enough to being able to leave easily that I want to get a bucket of popcorn and watch the train wreck.
I lived in illinois for 64 years,You all can worry about the Dem stealing all your money! I moved to a real america state,It’s a southern state and I pay no income tax.Is great as it is I can see more people leaving soon,they are leaving now,just wait till the fools get their increase in taxes.People who have been so unhappy with illinois will grow to hate it and leave then.How about the what they are doing to the kids about how it is so wonderfull to be a homo,in illinois.Do you really want that to be taught to you… Read more »