-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Too bad businesses cant vote.
“fair tax” aka soak the upper middle class tax what a freakin joke… maybe if disgusting evil money hoarders like JB weren’t offshoring their accounts or removing toilets in his house to avoid taxes we wouldn’t even need garbage like this! Then add on top of this his reluctance to curb spending whatsoever and this isn’t “fair” at all! Where are the protests? People should be rioting in the streets over this, but apparently don’t care.
This could be a real problem if opposition really is 2:1 and the 2020 blue wave turns into a red tide for Trump 2020. I had a gut feeling the opposition to the tax was high – no sane citizen would amend our constitution to give Springfield Democrats the ability to tax us more.
I am skeptical of this poll. Class envy is a popular theme with low information/low economic acumen voters, and Illinois has its fair share of them.
Other than Wirepoints and its contributors, one thing not mentioned or understood by the press is that even with the Fair Tax increases, deficits will continue to grow and mathematically Illinois is doomed. This is the salient point.
Polls are all suspect but a 2:1 is pretty big. The early polls showing the chicago mayors race of Lightfoot over Preckwinkle was 3:1 and it seemed crazy that time too. And the race at the end ultimately reflected a wide margin like that. It was a complete embarrassment for Prickwinkle.
It’s not really a matter of who’s for it or who’s against it, it’s a matter of who actually gets out to vote. You can be damned sure all the dead people will vote for it.