-- 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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He can raise taxes on all his vice businesses, it won’t impact me. I don’t smoke dope, and gambling isn’t my thing either. Go ahead tubby, make my day.
Hahahaha seriously, way better states to be in than sh*thole communist Illinois, they will leave, just watch
I doubt they’ll leave too. The odds will get worse, players won’t win as often, players will play less and revenue will fall. Will the higher taxes offset the drop in revenue? Did they even run a projection on that or just jack up the tax to some number they think sounds good?
The legacy media has gone completely quiet on scrutinizing anything to do with Pritzker. J.B. Pritzker gained significant notoriety with ‘toiletgate’ for it’s audacity as well as a multi-billionaire going through that kind of shenanigans to shirk some several thousands of his ‘fair share’. Layer on top a know vast tax avoidance scheme using offshore accounts. Both of these tax shirking schemes were discussed by the legacy media. Yet, nothing since Pritzker took office. Then no discussion of how the Pritzker family profited from the lockdowns and Covid scare. Anyone could reasonably guess Pritzker continues to look for ways to… Read more »
He spent nine figures on campaign advertising during the last two election cycles. He is personally responsible for keeping the lights on at many tv stations, radio stations and newspapers. They count on his money to keep them afloat. So of course they won’t say anything bad about him because they fear losing that campaign money.
As someone whose only gambling is $5 squares for the Superbowl, this whole gambling thing is beyond me. Casinos and sports betting sites have always generated huge profits. The house always eventually wins. Stories about homes lost, families and jobs lost because of gambling debts are eternal. It is a growing and gripping addiction. For once, I agree with Pritzker, these sites are not going to abandon IL because there is still a big payoff despite increased taxes. And, of course, this is one tax that I can avoid. I’d rather spend a hundred bucks on a good dinner than… Read more »
Your forgot the silver lining. Once the house is lost, there’s always comfort in knowing there’s a marijuana dispensary just around the corner.
And if you don’t have any money just rob someone, you won’t go to jail.
Wonder what press release Pritzker has ready when the CME decides it’s leaving.
Mr Bungles will put the blame on the carnival barkers!