-- 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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Here is what I think is a fair look I did at all the info regarding population, from which Miller cherry picked, though this is a year old and does not include the new estimated loss. https://wirepoints.org/illinois-is-not-growing-a-comprehensive-look-at-recent-claims-to-the-contrary-wirepoints/
Miller again crawls out from under his Springfield rock to spout Democrat propoganda. Here are the facts: the swamp cratures running the Census Bureau likely undercounted red states and OVERCOUNTED Illinois population collapse all caused by horrific Democrat policies and taxes. Period. Slither back under your fax machine Miller.
Sleepy Rich is in denial again. Depopulation is obvious to anyone who drives around the city and county. Have another donut and go nite-nite Rich.
The stats over the years show that middle class people are leaving in droves. The movers are being partially replaced by two distinct demographics: ~ Educated upper-middle class earners aka the Big 10 pipeline, reflecting a gentrified lakefront and near downtown neighborhoods in Chicago; and ~ Uneducated, non-English speaking immigrants, many of whom are here illegally, occupying formerly working class and middle income suburbs and Chicago neigborhoods. Formerly occupied suburban strip malls with Pizza Parlors have been replaced with Taquerias, Western Unions and Boost Mobiles in many Chicago suburbs. The Big 10 pipeline is drying up, fast. Chicago is no… Read more »
Ken Griffen misses paying the billions of tax dollars to Illinois.
Can you imagine a Chitty and State chasing away their biggest source of income?
The higher income hardworking families are Fleeing in every direction to greener pastures.
Texas and Florida are growing at a higher rate, what are they doing that Illinois is not?
Treating workers and businesses like they are welcome to the State, not like they are slaves to the state. Thousands are fleeing everyday never to come back. This is a huge problem for tax revenue in the future. Expenses going to the moon and less people to pay for them.
The most accurate data comes from the IRS, as published by Wirepoints numerous times. It shows how many fewer tax returns are filed by IL residents and their dependents and how much AGI leaves IL yearly. I have yet to see anyone dispute that data. Unless there is a huge amount of false or unfiled tax returns, the IRS report seems more accurate than the census.
Correct: Bleeding people: New IRS migration data shows Illinois lost another 100,000 residents and a record amount of wealth in 2020 – Wirepoints
Every time someone like Pritzker or Raj K or PPF denies the population loss in IL, please print the above link. Maybe some politicians will finally admit that people are leaving and taking a huge amount of money with them. Along with the fact that IL has lost 10 seats in the House since 1930. Want to deny that, too?
If Rich is can deny census results, then I can deny election results. I’ll let Rich deny results, maybe even I agree with him. But he must also agree that Biden did not really get 81,000,000 votes.
He’s not denying census results. He’s denying census estimates similar to someone denying election polling. Actual voter results and and actual census results are what matters. Illinois lost 18000 residents from 2010 to 2020. The pretend population results do not matter. Residential real estate prices in Chicago went up another 5% based on the January data for year on year. The city and the state continues to collect more tax revenue even though people want to claim that “everyone” is leaving the state. You can deny election results all you want. Rich can deny population estimates. The difference is when… Read more »
PPF, you are out of your mind to claim that our good revenue numbers result from good population numbers. That is measured directly and precisely in the IRS migration data that we publish every year, and it clearly shows that loss of taxpayers is hurting the state. These are the most recent numbers: Bleeding people: New IRS migration data shows Illinois lost another 100,000 residents and a record amount of wealth in 2020 – Wirepoints
“to claim that our good revenue numbers result from good population numbers.” Good to know. So I guess we shouldn’t worry about population loss then. From 2010 to 2020, the census estimates showed Illinois losing population during that time. This site happily touted those numbers as gospel. Then the actual census took place showing Illinois lost 18k people over that 10 year period even though the estimates were showing hundreds of thousands in reduced population. So you will need to forgive me if I don’t take these estimates that serious. Those estimates have no credibility. Your contention that 100’s of… Read more »
But you completely ignore that our tax revenue increases are below INFLATION and most other states have % increases HIGHER than IL’s paltry revenue increases. Other states are so flush with money they’re giving back taxes. And we are losing population. We are replacing some of that lost population with poor, foreign born illegal immigrants. Look at the demographics of middle and lower income school districts in the chicago suburbs. Many have swung from white to mostly hispanic in the past decade, with free lunches for everyone and rapidly declining test scores to boot. You’ll the ultimate “whistling past the… Read more »
Nope. Here’s what we most recently said on the subject, considering all the evidence, so please don’t say silly thing like that we see the estimates as gospel. https://wirepoints.org/illinois-is-not-growing-a-comprehensive-look-at-recent-claims-to-the-contrary-wirepoints/ And you can take solace in the nice, recent revenue numbers here and in other states only if you think some $15 trillion of federal stimulus since 2020 is going to be sustained.
I don’t take solace in the revenue numbers. I point them out to remind you and other doom and gloomers that just crying “population loss” will not move people to your camp as long as revenues remain strong. You told me I’m out of my mind to think good revenue results from good population numbers so who cares anyway.
Do not Count on being paid for you overly generous pension.
The money is just not going to be there. Get ready to work for Walmart.
The state brings in over $50 billion per year in tax revenue. Plenty of money for pensions and bond debt. Even Detroit pensioners get paid at 94.5%. Illinois pensioners will be paid first and nothing you can do about it. Try and steal elsewhere because pensioners are getting paid. Also, don’t forget about that 3% annual compounded increase. God bless America and God bless our constitution.
Even the Brandon regime’s hyper-politicized census bureau denies its own census figures. You can’t make this stuff up!!
Illinois Undercounted in 2020 Census, Actually Grew to 13 Million — The State’s Largest Population Ever
https://www.nbcchicago.com/news/local/illinois-undercounted-in-2020-census-actually-grew-to-13-million-the-states-largest-population-ever/2837753/
And did you hear that the new census is going to ask if the resident’s ancestors were enslaved? You can’t make this stuff up. Every action Brandon’s regime takes is designed to hurt its enemies and enrich its allies while destroying the system itself.
Rich Miller is not only Pritzker’s ass ‘n’ taint wipe — he’s also Pugsley’s number one math-denier — shaking his neck-fat at every census report that confirms Illinois’ population crash