[InvisibleChurch]

Ugh.

[Reeses]

And what do these economists think will happen to the Illinois economy when huge chunks of those pension payments go to Florida every month, never to been seen from again?

[Oldexpat]

So your total tax over 30 years would be 465k on a 500k house. Like having two mortgages. So if you are selling a 500k house it isn’t worth much at all.

[Thebaddog]

Haasl is a friggin research assistant per his profile on Linkedn. F him. Bet he rents.

[stylin19a]

"In our view, Illinois' best option is to impose a statewide residential property tax," they wrote, in part because it would be fair: "Illinois residents who have benefited most from the past services of governmental employees are more likely to be homeowners, so it seems reasonable that they should pay a larger share of the costs."

Breath-taking in so many ways.

It was the homeowners who paid for it in the first place and now they want 'em to pay it again and not just the larger share of costs but all of it ? on top of what they are already paying into the pension funds ?
while they continue to pay current into pensions ?

[Reeses]

residents who have benefited most from the past services of governmental employees are more likely to be homeowners

The primary people that benefit from government spending are the government employees themselves, followed by the drug addicts, illegals, baby mamas, bureaucrats, politicians, and other lay abouts.

[GreyFriar]

That will add to the already existing reasons to move out of Illinois...if one can find a buyer for their new high taxed property.

[E. Pluribus Unum]

Why not just kill all the taxpayers and take their stuff?

That would solve the problem immediately!

[MGunny]

How did theses three stooges get their degrees in economics??????

[Mark]

There should be an attached poll question:

"Do you plan on voting Democrat in the coming elections?"

[dragnet2]

This is what sh**y, inept and corrupt leadership looks like...

Hey, ya'll have some of the highest taxes in the country, but the city looters are going to bump them 40% higher? ☺

You'd think by this time people would be heading out of the homes they can't sell with pitch forks and torches and march on these corrupt individuals.

[Governor Dinwiddie]

If I lived there, I'd pack up ASAP and move before real estate values crashed. Even if you couldn't quit your job right away, rent while waiting for your house to sell.

If this isn't enough for the people to move or vote out the Dems, then they are all hopeless, and I have no pity for any of them.
 

[Gen.Blather]

I suspect the 3% who voted to pay the forty percent increased property taxes do not, in fact, pay any property tax now. What they don’t realize is, if they rent, the rent will go up accordingly.

[raybbr]

They want tens of millions to pay for the retirement of tens of thousands. The sense of entitlement is sickening.

[mywholebodyisaweapon]

Stupid economists, giving the rest of us a bad name. If I had a dollar for every time I have had to try to undo the damage of a fool with a Ph.D. in economics, I’d be able to pay off my mortgage.

Another poster asked how these clowns could get Ph.D.s in economics. Unfortunately, the answer is that they are edufactured in graduate programs. They are mostly mathematical, well, um, manipulators. Math is fine, but without knowing the underpinnings of the models they are manipulating or testing, it is sheer folly. And their prescriptions are sheer rubbish.

Bastiat nailed it. Good economists see what is unseen. Bad economists see only what is seen - in the present day. Do they really think there won’t be more pension crises and other desperate pleas for help from the public purse? Of course there will be - because these econofools incentivize slopping away at the public trough.

Does ANY of these three nitwits understand opportunity cost? Not on your life, or mine.

[I want the USA back]

There is no money to pay for it. Go f*ck yourselves.

[ml/nj]

How about giving the Government Employee Pensioners an Offer They Cannot Refuse!

ML/NJ

[TexasM1A]

Maybe they should raise the taxes on all of the people who have retired, and then moved out of the state, maybe 5 or 8% annually.

[MeganC]

Time to convert all public employee pensions into 401K style retirement plans.

The era of the defined benefit pension is OVER whether the unions like it or not.

[Texas Fossil]

I’ve got a much better solution.

It is TIME to DownSize DC!

Close entire Rogue Unconstitutional Departments including their SWAT Teams.

Anything worthwhile passed back to the States.

Cut the size of the Federal Government in 1/2.

And then spread the agencies that have no reason to be inside DC to other locations.

Move the center-of-gravity of the Fed Gov away from the DC snake pit and away from the Lobbyists.

[Texas Fossil]

Opps. This is the Chicago Fed discussing Illinois problems, not federal problems.

The problem with Illinois is in Chicago. Nothing short of a natural disaster will fix that. It will take an act of God.