Well let’s see, Illinois bonds are now junk grade and both the state and Chicago have huge pension debt that is threatening to bankrupt both. The state has about 130 billion to pay off which would require about a $2000 dollar tax hiike for every single person in the state. Chicago has about a 60 billion debt and about two million citizens. In spite of this the legislatures keep trying to kick the can down the road. The unions keep anything from changing because they somehow expect the tax payers to pay for their Cadillac pensions. They all hope they can survive the short term and pass the problem on to the future. I don’t think this is going to happen. They are on the brink and they need to really work together to solve the problem. I would like to see the amendment protecting public pensions either scrapped or made to apply to all pensions. If it applied to all we could go bankrupt immediately and start over again..
Well, when you give ALL the Money to a dozen or so Billionaires and absolutely Refuse to allow them or their Corporations to be Taxed, it tends to make it difficult to Pay for Anything.Like the Roads and Bridges that are becoming close to 50% Chewing Gum holding them from collapsing because Repairing or Replacing them would require Taxing the people who Have All The Money..Why do you rob Banks?Because That’s Where The Money Is..Why do you Tax Wall Street Banks?Because That’s Where The Money Is..
Theodore E. Lind Premium Member almost 9 years ago
Well let’s see, Illinois bonds are now junk grade and both the state and Chicago have huge pension debt that is threatening to bankrupt both. The state has about 130 billion to pay off which would require about a $2000 dollar tax hiike for every single person in the state. Chicago has about a 60 billion debt and about two million citizens. In spite of this the legislatures keep trying to kick the can down the road. The unions keep anything from changing because they somehow expect the tax payers to pay for their Cadillac pensions. They all hope they can survive the short term and pass the problem on to the future. I don’t think this is going to happen. They are on the brink and they need to really work together to solve the problem. I would like to see the amendment protecting public pensions either scrapped or made to apply to all pensions. If it applied to all we could go bankrupt immediately and start over again..
oneoldhat almost 9 years ago
jase99 tells another funny joke
Tarredandfeathered almost 9 years ago
Well, when you give ALL the Money to a dozen or so Billionaires and absolutely Refuse to allow them or their Corporations to be Taxed, it tends to make it difficult to Pay for Anything.Like the Roads and Bridges that are becoming close to 50% Chewing Gum holding them from collapsing because Repairing or Replacing them would require Taxing the people who Have All The Money..Why do you rob Banks?Because That’s Where The Money Is..Why do you Tax Wall Street Banks?Because That’s Where The Money Is..