-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Brandon Johnson was caught reading from the same old playbook his union wrote over 10 years ago. Then when the negative feedback came in, just as it always has, he backtracked. So either he plans to implement these taxes or he doesn’t understand his own tax proposals. Both look very bad.
I’m somewhat shocked Chicago doesn’t have a local income tax, yet.
Be careful, Detroit and Pontiac, Michigan do and once upon a time I paid them albeit at the non resident rate.
What’s 1/2 percent amongst friends? Not much but again I never got anything from either of those entities. Was robbed in Detroit once in the 70s.
The greedy terrorists of CTU are coming for your money. Period. Their depravity has no bottom.School vouchers for all.Bust this union.
Just one more nail in the coffin. They will be able to make the interstate a one-way, leaving Chicago.
Chicago is uncompetitive in many areas because of crime, high taxes and politician / union corruption. It is increasingly losing convention, significant business openings and entertainment consideration to more reasonable / safe / low-cost alternatives. Plus you have to deal with the cancerous socialist thinking that is prevalent. Put in these taxes, and watch the spiral accelerate. The uneducated Chicagoan does not understand history – socialism has never succeeded in lifting the poor anywhere it has been tried. Ask all the Venezuelans that are illegally pouring into the US now after their early support for socialism destroyed opportunity in that… Read more »
Chicago’s Crooked Corrupt Unions Tax Hikes That Target The Rich But Could Chase Businesses And Suburbanites From The City