Your property taxes pay for government workers’ guaranteed salaries, benefits and pensions while you get no such guarantees – Wirepoints on with Jeff Daly of WZUS Decatur Radio
April 18, 2024
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Ted joined Jeff Daly to discuss why Illinois’ property taxes are such a national outlier, why Illinoisans are forced to pay the high, guaranteed salaries, benefits and pensions of the government class, why Illinoisans aren’t getting their money’s worth for what they pay, the teachers unions’ influence over elections, and more.
A set of state lawmakers want to extend CPS’ current school closing moratorium to February 1, 2027 – the same year CPS is set to transition to a fully-elected school board. That means schools like Manley High School, with capacity for more than 1,000 students but enrollment of just 78, can’t be closed for anther three years. The school spends $45,000 per student, but just 2.4% of students read at grade level.
Hopefully, all media will get the message, in Illinois, too.
Ted joined Tom Miller of WJPF to talk about Illinois’ highest-in-the-nation property taxes, why lawmakers don’t want to touch the tax’s cost drivers, just how much Illinoisans’ tax burden has grown over the decades, why Gov. Pritzker failed to meet his promise to reform property taxes, and more.
And so it begins. A bull market for bonds began in 1981. Since then, owning bonds was a capital gains money machine. Bonds, like stocks, are intangible assets. The market for intangible assets does not conform to Econ 101 supply/demand price models; as prices rise (in a bull market), the quantity demanded rises also. This dynamic has run for 38 straight years, resulting in a veritable OCEAN of debt being filled (the on-budget $22 trillion national debt is a snowflake on the tip of the worldwide iceberg of IOU’s.) We LONG AGO passed the point where debts (promises of future… Read more »