-- 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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And a double gas tax increase in 2023. Thanks JB, you’re an idiot
You are selectively picking one area of taxation here and ranting about it. Yes, but let’s step back and think about taxation more generally. But, to do that without going off “into the weeds” by asserting that taxes overall need to be reduced, please leave that topic out of it. So, back to your direct statement, please: where should taxes be raised and reduced to achieve fairly closely the same amount of state tax revenue overall?
Achieve fairly close state revenue? That’s the wrong question. The question is how to cut spending. How about cutting, slashing and overall defunding the government. Start first with the Division, Inequality and Exclusion departments at all universities. Then work onto the bloat in the human services department. Every department could probably cut 15% deadweight and actually improve productivity and outcomes.
This is all pie in the sky stuff though because no Democrat or R politican wants to cut IL spending. Government is a class in and of itself that assures votes for the D party.
Taxes should not be increased. Spending should be reduced.
Pritzker’s gas tax relief is as phony as his toilet tax scam
https://www.illinoispolicy.org/federal-investigators-digging-deeper-into-pritzkers-331k-property-tax-break/