-- 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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When we run out of productive businesses and individuals to extort, the hunger games will begin. Does our ship of fools really believe that free s*it lasts forever, even if you were not born a billionaire? Few businesses will pay these confiscatory taxes because it is not economically prudent or possible, and they are not even offered protection from criminals.
Easy Choice owners Leave cook county!
ummm…it wasn’t a choice that his family business started in 1947 will be shutting down because of Google and the hot west side real estate market.
Dollars to doughnuts Google or the developer who brought them to Fulton Market RECEIVED tax money to do so while this poor schmuck gets a 400% increase to pay for that. And lets be clear too, 1943 W. Walnut is not some Shangri-La, there are active public housing projects just across the tracks. I’m sure the owner looks out every day and marvels at the utopia of junkies, hookers, flaming hot cheeto bags and broken glass all around justifying his 400% tax increase.