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.
I hope I can finally get out of here before they amend the constitution creating additional taxes on Penske truck rentals. Just sayin.
Hmm.. will the folks that are struggling with their tax bills vote to increase taxes upon their oppressors? Odds, anyone?
This is not something that should be in a constitution to begin with.
The real question, will the people accept another fast one like Amendment 1 or will they believe the lies. Unfortunately, I already know the answer to this.
Typical Illinois political absurdity. They want to change the state constitution to fix a broken property tax system. How about you fix the system that is broken instead of breaking another system? This state has more than its share of criminals and morons…I’m sorry I meant democrats.
They can change the Constitution for this thievery, but somehow they cannot change the Constitution to reign in their bloated pensions, 3% cola increase every year on the bloated pensions not to mention the other benefits that are breaking the backs of the residents in this state. These people are sickening.
Another terrific idea from Illinois Democrats. Let’s increase taxes on the few people left in Illinois who can actually pay something towards our huge debts. And by the way those are the folks who can vamus the easiest. It really is getting beyond silly with these folks. Only the poorly educated who can be taken advantage of and duped by the Dems are going to buy this nonsense.
Well, as we all know, the progressive income tax has already failed once. It failed because Illinois residents don’t trust their elected officials, and it really is that plain and simple. Nor should they trust these officials, because they will use a constitutionally approved amendment to quickly tax many more residents than just millionaires greater taxes. And as Treasurer Frerichs told us the last time this was tried, it will make it easier to tax retirement income. Pritzker wants another bite at the apple, and he needs to feel the wrath Illinois voters for ignoring them.
A tax to cover a tax. WTF
“Illinois’ Income Tax Advisory Question … asks voters if the state constitution should be amended to create an additional 3 percent tax on income exceeding $1 million to generate new revenue for property tax relief.”
This is what we call bad advice. Good advice would be to reduce bloat.