-- 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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Pass taxing on retirement income and the exodus rate will double or triple. However the demoncrats just dont care. They are in power and lining the pockets of friends and relatives who dont care either. Who suffers the most with all the tax raises? The poor slobs who actually work for a living. Those who work in a factory or industry, tradesmen, service industry workers, the guy/gal that doesnt have public transportation and must drive 30 or 40 minutes to work. As an example, in my area, on November 4th the day after the election, regular unleaded was $1.75.9 per… Read more »
“Pass taxing on retirement income and the exodus rate will double or triple.”
Isn’t is clear already? JB the Evil wants elderly white Republicans dead (through delayed vaccination) or gone (by taxing their retirement income).
He’s clearly punishing those that voted against him.
He’s evil, a truly evil man, who as a gov., gets to decide life and death in his state, and is choosing to play god for political reasons.
He will rot in hell.
I don’t think the exodus will double or triple because Illinois is one of the few states left that doesn’t tax retirement income.I do believe if it were decided to start taxing retirement income people’s eyes will finally open up and it could be a death sentence to Pritzker’s re-election and yes Pritzker is a very very evil individual and through the grapevine he is not well liked amongst his inner circle.
The difference is alot of the states that tax retirement income have schools that their kids ACTUALLY attend in person, well cared for roads and significantly less taxes (fuel tax, real estate tax, sales tax, etc. etc.) Just like a “use tax”, you don’t add MORE taxes because other areas are taxing something you don’t – you are supposed to balance out the tax burden on residents. IL does not get that – at all!
So very true, thanks
There is a third option: Cut Costs. Especially pension costs with massive state worker pension reform.
Well said! Also an honest look at what actually did work well during the virus panic could save millions throughout government. Schools, Toll roads, libraries, Secretary of States office all must have had some successful adaptations. Businesses will be making permanent changes to save $$$, government must do the same!
Gee, there’s a new idea no one has even considered!
Watch more people leave the state if these alternatives are implemented.