-- 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’m truly shocked so few conservatives nationally or locally are pointing out that funding for all programs in the $3.5 trillion BBB are only for first 10 years. After that it will be up to states to fund. https://www.wsj.com/articles/3-5-trillion-is-a-phony-number-democrats-spending-bill-entitlements-joe-biden-11632425260
Seems like Martire has had a change of opinion on corporate taxes. I have heard him in the past say that they are not a good way to raise money, which quite a few progressives correctly say, because corporate taxes are ultimately paid by a scattershot of people — employees, shareholders, customers.
Yup, meanwhile household income and pension funding ( not illinois) are at all time highs thanks to Trump/ Republicans Corporate tax cuts ( even if I’m not a trumpster)
The single most expensive provision in the Democrats $3.5 trillion welfare state expansion bill is the enhanced child tax credit. This is sold as poverty alleviation – what a farce! The poverty line for a family of 4 is $26,200 annually, yet the enhanced credits don’t even begin to phase out for a married couple with 2 kids until their income hits $150,000, and then they phase out so slowly that many families with incomes as high as $200,000 will still get some. Do we really need a new welfare program for upper-middle class families when the national debt is… Read more »
Whoa, Andrew! My new buddy!