-- 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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I hereby support a progressive tax and the adoption of Arizona’s very progressive tax rates as follows:
2.59% > $0
2.88% > $10,179
3.36% > $25,445
4.24% > $50,890
4.54% > $152,668
What do you say, flat tax advocates? Shall we follow Arizona’s progressive lead? At these rates, how could you possibly say no?!
The devil’s in the details. If the question is “Would you support a progressive tax if it meant you would pay more in taxes?”, I doubt you’d get 70% support.
when they talk about the Rich, they don’t mean the really rich, they mean anyone who gets a salary of say 65K to a couple of million a year,