-- 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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Chicago is the new Venezuelan city
Is this even legal or Constitutional for them to be dictating this to business owners? In either case – this will be the end of upscale dining in the City of Chicago. Stupid people.
That there still is a restaurant industry in Chicago is the 8th Wonder of the World. Every time I see that sales tax charge on my bill I begin to get indigestion. Add to that crime, parking and illegals with TB ….
Upon moving to SC, I was constantly amazed at how low the sales tax was when eating out, almost minuscule. And, have never paid for parking (except tipping a valet) even after dining in trending areas. As for crime, yes, sometimes after midnight stuff happens at the trendy bars, otherwise, none.
Another nail in the coffin of big name Chicago restaurants. You will continue to see them close one after the other. The combination of empty office buildings, out of control crime and silly laws like this one essentially dooms them.
Economically illiterate Democrats don’t understand that once wait staff is making $20 an hour at a minimum
— most of the rationale for tipping goes away, and servers make less money
— restaurants will have to raise prices, cut staff, cut hours, or close, all of which means less income and fewer wait staff jobs
CNBC is loaded with Marxist taint-wipes who see this as an economic win rather than an economic screw-up