-- 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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So the Fair Tax is setup so that the lowest earners have a marriage penalty and millionaires have no marriage penalty? How stupid.
If Illinois pols designed a vehicle, it would have square wheels and would catch fire when shifted into drive.
Check out “Stossel presents the Trabant” on you tube
That’s the problem with the trendy new term ‘equitable’, as in the ‘fair’ tax is ‘equitable’… the meaning is in the eye of the beholder, and equitable can mean whatever you want it to mean. Equal has a quantifiable meaning, equity is unequal with some pretty ridiculous justifications.
Methinks that Orwell guy may have been onto something…