-- 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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And the dumb down will plunk a JB 2028 sign in their front yard while proclaiming he deserves their support because JB held true to his word and didn’t raise property taxes.
They are trying to raise the cost of leaving Illinois. Buy one last tank and flee from this taxation madness.
Nickel-and-diming taxpayers via continued, relatively small tax and fee increases over time is nothing new; I’m sure many states do it. However, for the state with the highest overall taxes in the country to do this is wrong and unfair to the already overburdened taxpayer. A state with such a dubious distinction should instead concentrate on ways to ease the tax burden on its residents. Unfortunately, in Illinois, greed and corruption get in the way of making taxpayer-friendly decisions.
I would love to see an accounting of all state vehicle that grifting politicians use for their useless jobs.
Further, I would like to know how many of these lazy grifters get free gas credit cards where the state pays for their gas.
You just know that there’s a multimillion dollar grift happening right now with state issued credit cards. Guaranteed.