-- 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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“A bridge too far …”
Taxpayers would not have to face referendums if Government would spend according to the budget!
Say NO to any tax increase. Tell the Gov’t to make cuts in their own house!
Whatever you are planning to cut, we can live without!
Hold up. They are proposing raising the existing forest preserve taxing rate by .025% to a total of .076%. Does that mean the rate would increase .00025 percentage points or is that the percentage increase? Because if it’s the former, and the existing rate is .051%, that means the tax rate has increased 50%.
In other words, is this the same freakin’ game they played with the income tax hike back in 2011/15?
You got it right. The tax rate increase would be approximately 50 percent (49 percent to be exact). So, to provide meaningful information to the taxpayers, the information provided should read: “The proposed tax rate increase is 49 percent.”
And they wonder why we don’t trust them.
This is the danger in tax silos or, in this case, a tax silo within a tax silo. There’s always a relatively small tax rate buried beneath that, when viewed independently of all other taxes, appears insignificant. But when you tally up all these so-called insignificant tax rates, it comes out to a substantial amount.
Acquire more land?! I like open spaces as much as the next guy, but the forest preserve groves devoid of people 90% of the time tell a different story.
Cook County Board President Toni Preckwinkle is up for re-election in 2022.
How about this: NO! Make your “hard decisions” now.
Is this a freaking joke?
MORE money after me, the taxpayer, giving Illinois $7.5bn?
Take a walk PW. Stick this where the sun don’t shine.