-- 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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Yep, and wait until there are no more COVID bucks to spend. The Chicago residential PTs, already off the chart compared to most of the rest of the nation, will spike upward. That’s because Dems love spending taxpayer money, even if they don’t yet have it.
Nothing will change the people who can will continue to leave, those that cannot will stay but the exodus will continue. The future will become one of states who have and states who have not. Miami is getting ready to take away the money from Wall Street, Chase is moving facilities to prepair . Watch as Ronald and McDonald’s soon follows suite.
Illinois will be a “have not”state, make book on it.
They tax away the equity in the buildings. So effective tax rate is higher than the stated rate.
They do the same thing to homeowners.
Anything for the Public Sector Unions, Anything.