-- 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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Do recipients pay income tax on their “guaranteed income” income?
This is not a disability program, but rather proposed compensation to able-bodied adults who apparently don’t want to seek out a job, or a better-paying job, through personal initiative. I suppose this is actually a social-welfare program for able-bodied men, because mothers of dependent children, disabled, orphans, and/or senior citizens already have their social-welfare program payments.
More than half my private-sector earned income is appropriated by taxes of all sorts. Working is becoming tiresome, and apparently entirely unnecessary for increasing larger sector of adult-population.
If this $1,000 per month guaranteed income becomes law, expect many IL residents’ threshold of pain to be exceeded, resulting in more relocating out of state. This proposal aligns with IL’s death by a thousand cuts mentality.
And you get a check, and you get a check….pure unmitigated insanity brought to you by Illinois Democrats.
Anytime I hear the benefits of “unrestricted cash”, it makes me wonder why we restrict any sort of financial assistance at all? Why have assistance specific to food/housing/utilities? Just give folks one giant check to spend as they deem fit on necessities. Because if you don’t trust them to spend all that assistance wisely, how can you can’t trust them to spend just the guaranteed income portion wisely? Pawar said the proposed statewide guaranteed program of “unrestricted cash” should be in addition to other taxpayer-funded safety net programs. Programs like Supplemental Nutrition Assistance Program funds go to buy food. The… Read more »
I agree. That is the premise behind the negative income tax. I say ditch all the bureaucratic friction and cut a check sufficient to provide basic support. Granted a very difficult political nut to crack but a bold politician could make some hay touting expanded/unrestricted NIT as a trade off for elimination of our failed government monopolistic education system- vouchers for all.
There goes my house value as well, I’m going into the rental truck business it’s going to soar!
Here is a novel idea – give taxpayers a $1,000 a month tax cut across the board.
Sure, why not? But, why stop there…lets give everybody $1000/month. It’s just government money.
I don’t think these people know who provides the money that they so easily give away.
They actually do not know that every dollar they give away, comes out of someone else’s pocket.
It isn’t magic or complicated… its just that simple.
The arrogance and glibness of these elected officials is really staggering.
And you think the business and taxpayers exodus is bad now, how do these people come up with this shit.
Easy-They are already full of it.
Good one Freddy