-- 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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Maybe if property taxes were much much lower landlords could rent them out a little cheaper. This way tenants could get lower rents so more people would take a chance with small start up stores. Even when empty property taxes must be paid.
Empty store fronts made me think about one of the reasons- tax breaks, and why the Mars/Wrigley plans to donate the 16 acres factory in Galewood “for the use of the community.” As if its a gift instead of what it potentially is- a flaming bag of doggie doo left on the taxpayers doorstep. Wanna build something on that property- good luck once the EPA takes a look-see before any kind of factory dismantling and proper disposal of possible hazardous waste in the midst of a fairly large residential area with families, schools, and parks. I see big costs to… Read more »
And there’s the kicker. They want property owners to either give away their property or rent it at a cost far below market value where it doesn’t make sense.
I don’t like vacancies either. And there are definitely bad actors. But this has “something for nothing” written all over it. They want to wipe the slate clean and not have to deal with the fallout the high property taxes caused to begin with.
Fixed the headline for you:
“Illinois Democrats Want To Punish Struggling Landlords — For Vacancies/Deserted Streets — A Situation Created By Democrats’ Business Hostile Laws/Regulations, And Their Total Failure On Crime”
You’re Welcome!!