-- 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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Why is Illinois poison to business? — the most business hostile laws/regulations in America — the most burdensome tax structures/tax rates in the US — a failing educational system at all levels — the worst fiscal basket case among all 50 states — out of control crime/soft on crime Democrats that have made law and order impossible — crooked and corrupt unions that have a stranglehold on government — the worst corruption of any state/one party misrule — a Democrat state energy suicide pact that will give Illinois 3rd world power blackouts and last but not least — a Conga… Read more »
If I were a business being courted to set up shop in IL, I’m not sure there could be a large enough tax break to accept the offer. On the other hand, IL is so desperate, it could give the store away without regard to the well being of the chumbolone taxpayers.
Jabba is getting desperate. He’ll have to offer a superior tax incentive deal relative to other states, given the terrible business climate he created in Illinois. His stupidity knows no limits!
HIs efforts on at least twenty EV related new facilities the last few years have been a total zero so far. So don’t hold your breath on this one. And if he is successful, it will be at a huge cost for the giveaways with taxpayer money.