-- 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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These taxes and fees in Illinois continue to increase and grow in number. Also, we’re truly becoming the frogs in the pot of boiling water, because many of us use autopay and auto-replenishment (the latter for tolls). For example, how many of us check how much we pay in tolls each year?
Voters don’t reward honesty when it comes to taxes. They would much rather be lied to.
Go over the border and buy it. Screw Putzger
That has nothing to do with this tax. Buying it “over the border” won’t save you from these taxes. Maybe that’s why Illinois loves these kinds of taxes. The average voter is too slow to understand them.
Illinois is taxing everything and everyone anyway the can and it is still broke. Pension costs are exploding and are completely out of control. No hope now except bankruptcy. The numbers are so out of line even if they hit the Powerball jackpot every week for a year, they would not have enough money to pay for the pensions.