-- 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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My university will likely pay this tax, given our high endowment per student, but it is a trivially small amount in the grand scheme of things. I just wish universities were not singled out and that it would apply more broadly to all so-called non-profits that pay lavish salaries to their administrators.
Like the Clinton Foundation?
Since Hillary failed to steal the election, bribes laundered through the Clinton Crime Foundation are waaaaay down
It’s about time these rich institutions pay their fair share of taxes
Ironic that the communist progressives in academia preach about higher taxes on the rich; and suddenly freak out when they realize THEY are the rich. I’d excise tax these bozos 25%.