-- 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
Whats interesting to note here is that high taxes was not mentioned as a reason for people leaving Illinois. So many posters here have mentioned higher taxes as a reason people are and will, leave Illinois. This study does not back up the assertion that high taxes are causing people to leave our State..
Anybody want to explain why taxes were not mentioned as a reason for movers leaving the State?
Because the survey did not allow that as an option. see http://www.census.gov/hhes/migration/files/cps/cps2015/tab17-1.xls
Other was an option….people who left becouse of taxes….had the option for other. Not sure what methodology was used in this study but it most certainly does not support that Illinois taxes are a common reason for people’s exudus.