-- 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
Within the 2020 Fair Tax plan was a child tax credit of $100/child. It cost maybe $100 million, around the same as the Invest in Kids Act.
When the Fair Tax failed, the CTC was thrown out as well. Now that it’s possibly back at $300/child, someone should ask the governor why for the past few years he has denied tax relief to the poorest families in Illinois.
https://www.oakpark.com/2020/09/30/giving-tax-credit-where-credit-is-due/
One of my neighbors who lives in a pretty nice home bought a new car last year. Just last month a new furnace and air conditioner was installed paid for by a Government program to help “the poor.” They get LIHEAP for utility bill assistance, SNAP and WIC for food, go to the food pantry and, from what they say, Obamacare is practically free. Add this up to the assorted other giveaways, the Township gave out bicycles at Christmas this year, they live quite well. Their way of doing this was simple; the wife quit work lowering their income to… Read more »
A permanent child care tax credit is one of the items that will move a basic flat tax into the graduated tax rate structure that Pritzker so desires despite the fact that the voters voted against it.