-- 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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Politicians love other people’s money. How about every politician in the State House in Springfield takes 20% of the salary they get for a part time job and donate it to a food bank in their district? I bet that will get ZERO support from these politicians.
Is tax, tax, tax the best our legislators can do? How about trying financial discipline. We the voters/taxpayers must live within our means. Illinois legislators should do the same
Why is it that every time the politicians are in session we can expect much higher taxes on everything?
Governor WIDE-LOAD would never let that happen. He doesn’t like paying property taxes, until he’s caught cheating the system.
If Chicago and the state would quit throwing money at all those people who aren’t even supposed to be here, we could do those things without demonizing billionaires (who won’t stick around if you keep using and economically abusing them.
Taxpayers and people who work for a living will just leave. Then IL will be left with people with their hands out for freebies illegals, and criminals. Then who will be left for the Democrat socialists to tax to pay for all the handouts and fraud?
“We need to take the money from these ultra-rich billionaires…”
And when they leave, we’ll take from everyone else.
The dems won’t give up on breaking the flat tax. And they will be coming for your retirement income. It will take them a year, two, maybe three but I think state-tax-free social security and IRA withdrawals will be ending. It’s the last big slug of money they can’t yet steal. YMMV but I think filling my 12% federal tax bucket every year before this hits looks attractive vs taking only the annual RMD. Or escape if you can.
Don’t talk about it you filthy scumbag cowardly dems. Do it and do it like you want to. See what happens. It will provide those of us no longer there with a hearty laugh.
If they “break” the flat tax, eventually they will come after you.
Millionaires first, then down and down to just like Iowa before they went to a flat tax…
Income for married couples over $62,100 or individuals over $31,050 was taxed at the top rate.
So at $31,500 you were charged same as a millionaire.
Let’s tell them the same bull…. Story and steal
more of there money!
All you millionaires and billionaires should follow Ken Griffin to Florida. Take your businesses and all the employees with you. Illinois is shouting out loud for you to leave.
Almost all of the millionaires and billionaires (however you define those terms} have already left. They could see the writing on the wall years ago. The only ones left are the ones gaming the Illinois system, like that fat pig you call a governor.