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Ted joined Dan and Amy to talk about the massive amount of state pension debts that keep growing year after year, why it’s immoral for politicians to make promises they can’t keep, how badly Chicago home prices are faring over time compared to the rest of the nation, why that drives so many people out of the state, and more.
Read more from Wirepoints:
Summary and audio linked here.
If this bill passes, say goodbye to local control over all Illinois parks and expect to see open drug and alcohol use, needles, no sanitation and fire hazards, but no ordinary park users.
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.
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Audio and summary
Fire and police pensions are killing state and local governments. They are far, far higher than regular pensions. Tier 2 police and fire pensions in Illinois are calculated using a formula that takes into account an officer’s final average salary and years of service: Final average salary: The average of the highest eight consecutive years of salary within the last ten years of service Pension formula: 2.5% of the final average salary for each year of service Pension maximum: 75% of the final average salary Tier 2 officers are eligible for retirement benefits at age 55 if they have 10 years of service. However,… Read more »
I provide facts and some don’t like it. No surprise!
It’s the same old story, Chi/Ill is only about the burden of bottomless $debt$ owed to ‘the machine’ upper-income gov class. Chi/Ill has long ago ceased to be about any vision or hope of a FUTURE. Why would any young person seeking a FUTURE of opportunity choose to be here? It’s intellectually dead as are so many high debt Blue states. The temporary ‘free stuff’ EQUITY party’s over, the COVID $bucks$ are all spent. You have Welch talken ‘tough times’, stating future state bailouts for– Chicago/CPS, Tier II fix, Bears/Sox stadium deals, etc, etc are DOA (thank god) for now… Read more »
Since when did morality come into play with anything that happens in Illinois? It’s a state built on immorality and stupidity. They have been stealing from the sheep that live there for decades, and the sheep don’t mind as long as there is bread and circuses. It works for the demofilth because there are always more taxes to be raised and the sheep like being fleeced. Absolutely no resistance. The occasional sheepdog barks but is quickly silenced. It’s a perfect system for the wolves. While all of you bleat, the wolf sits contently by laughing and gnawing the bones of… Read more »
Public sector unions and their purchase of corrupt politicians at the expense of taxpayers is the root cause of this cancer. Public sector unions are unconstitutional. Abolish them. Don’t believe me? Then check out this book: “Not Accountable. Rethinking the Constitutionality of Public Employee Unions” by Phillip K Howard.
It’s just pure theft, and you can see the deterioration in little ways of Cook County.
Here is a real good article/video from NaturalNews about how property taxes are calculated.
https://www.naturalnews.com/2024-12-10-vexler-adams-discuss-property-tax-fraud-scandal.html
Fred, I’ll simplify this for WP readers.
1.) How much money do you have?
2.) Send it to the Cook County
Treasurers Office.
I’m sending a lot to Rockford mostly to school districts which never seem to have enough money. I should start a Go Fund Me for them to help out. My taxes on my rental in Rockford are over 45% of rental income plus my insurance went up 100%. Not one thin dime is going for property tax relief from the new casino proceeds are expected at $7M/yr.
I feel for you Freddy. A buddy of mine says he’s lucky if he breaks even on his rentals. In the old days when he sold one he could make it up on appreciation of the rental property. Looks like that’s gone away too.