-- 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 people are unable to connect the dots as to why their taxes have gotten so high.
So, the Cook County method of assessing property taxes reasons that when people and businesses are willing to pay more than used to have to be paid to live in a particular area, then the value of the properties already there, but not yet sold, have also increased. Of course, aside from immediately due taxes, the increased value of your home doesn’t really mean anything to you, unless you actually sell your home and take the cash. Until you make that decision, you must pay property taxes on the increased value of your home, even though you have as yet… Read more »
Crooked County is determined to wipe out the working class, middle class
That’s the fundamental transformation. You’ll have nothing and be happy like former citizens of the Soviet Union.