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Jesse Sharkey and Vice President Stacy Davis Gates sloughed off concerns about how a school system that has borrowed to the hilt can afford such a generous contract:
“So to hear this discussion arise about, ‘Oh, my God. It’s gonna cost too much money.’ No. quite frankly, it should be costing a lot more money.”
Pressed on where the money should come from, Davis Gates said, “Rich people. Reinstate the corporate head tax.
“[Lightfoot] has an opportunity to expand the tax base to include those who can pay more. She should do that,” Davis Gates said.
“A corporate head tax. A financial transaction tax. Things that will actually transform the way in which we fund public services in this city."
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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The only transformation going on here is that of Chicago continuing to lose population due to escalating taxes and user fees.
CPS should take Sharkey’s Tesla and his 4 bedroom Rogers Park mansion, for starters
“Rich people. Reinstate the corporate head tax. We are encouraged that the governor has put forth a fair [graduated income] tax to put that on the ballot.”
Lightfoot – one term. Pritzker – one term.
Only to be replaced by more socialist democrats.
There’s a great future ahead, here!
Rich people. It’s a broken record with this woman. And while I can see Lightfoot being a 1 term wonder, this is also the same state that reelected Blago…