-- 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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It’s ok to pay higher property taxes if you are a homeowner in Chicago, right? Look what I get for all that money– safe neighborhoods, great schools, clean and safe public transportation, honest and intelligent government, excellent roads and traffic conditions, and thoughtful and efficient execution of all my needed public services. What more could I ask for.
I am not surprised by any of this. This amount of corruption is truly impressive. The electorate don’t even realize what is happening. Mark how much longer can this go on? How much longer will it go on? If a recession it’s toast. No?
In Illinois you really can’t own property. You can rent it from the government.
I truly do not understand property taxes. Kaegi ran on the premise that commercial was under-taxed. Now he’s increasing the burden on homeowners, just like his predecessor.
this will continue until the annual tax equals the value of the home. think im joking?
Nope, it will continue until the North side resembles Detroit. Then TPTB will sell abandoned houses for $1 (again like Detroit) in an attempt to actually have property tax paying residents.
that comes after and means its working.