-- Connecting the dots between our economy, government and business --
If you think the head tax—the per-employee levy repealed in 2014—is dead, think again. And while you're at it, consider Denver, which progressives hold up as a model. There, people pay for the privilege of having a job.
And Chicago Teachers Union, which supports the tax, responded thusly when columnist Hinz asked for comment: "Greg, you've disparaged the CTU and our work for much of the last few months, pushing Chicago Public Schools talking points ad nauseam and going so far as to compare us to big business and Donald Trump. spokesman Ronnie Reese emailed back. So don't be surprised that no one over here is jumping over barrels to speak to you."
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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CTU is big business. We keep pretending unions are these altruistic entities when they are really massive tax exempt corporations. That’s their business, but that’s exactly what it is: business.
I remember being on the board of CME and being confronted with this tax as a member of the Budget Committee. I wanted to ship all the jobs that weren’t tied directly to the floor out of the city to save the tax. It’s a dumb tax but the socialists at the CTU and the socialists in the city council don’t see it that way. I hope they pass this and a transaction tax on trading. I am sure it will benefit the city…..well the moving companies in the city anyway
Jeff. As you know far better than I do, a transaction will cause the CME to move out of Chicago within months. Lots of tax revenue would be lost, particularly when collateral revenue is considered.