We bring you Rahm Emanuel and his bright "new course" for all taxpaying Chicagoans. Mayor Rahm, democrat overseer of the insolvent city of Chicago, in a very recent press release (we have added some comments and questions):
Office of the Mayor
City of Chicago
For immediate release
September 22, 2015
· To address the amended 2015 Police and Fire pension payment, the property tax levy would be raised by
o $318 million in 2015
o $109 million in 2016
o $ 53 million in 2017
o $ 63 million in 2018
o That’s a total of $ 543 million every year thereafter
o Over one half of one billion dollars every year forever and ever until bankruptcy
o Plus of course whatever else they add on later, and
o Plus of course whatever the other “city” taxing bodies add to their tax levies, and
o Plus of course whatever happens to the valuations, etc., etc., etc.
· What do the citizen taxpayers get for this largesse?
· Well normal answers of course would probably include things such as:
o More cops, firemen, ambulances
o More roads, services, schools
o Or just better roads, services and schools
o Maybe a tax cut to encourage more business/jobs and
o Maybe, more citizens will move in
· But no, none of that. There will be no “more” of anything
· Because here is the reason for the $ 543 million increase
o “…we will build on our progress in charting a new course for Chicago’s future and secure the retirements of our police and firefighters…”
· You mean all that money does nothing for the people who are paying it?
· Yes, it is all going to people who are not “on the job.” They are all “off the job.” And even if they were “on the job” it wouldn’t matter much would it – there would still not be one mile of new road built or maintained; not one bridge built or rebuilt; not even one square of concrete sidewalk built or repaired; not one new school!
· Not one thing comes to those who pay – they are getting nothing for something and that something is going to cost them at least $543 million per year, forever and ever and ever
Emanuel, has done nothing, NOT ONE THING, to reform the city, to eliminate pension costs going forward with a defined contribution plan and mandatory social security contributions that most all of us live with; nothing to make the city schools a draw for those now forced to evacuate to the suburbs and nothing to eliminate taxes, fees and regulations on businesses to say nothing about endless, oppressive costs on residents.
$543 million and current taxpayers get NOTHING. Or, as our fundamental requires – pay as you go – do not burden today’s taxpayers with yesterdays obligations. This simple long standing legal concept – pay off your debts at death needs to be written in every law in every governmental entity statute book in America. Debts and obligations get paid; they do not pass to future generations.
Instead today's politicians have given us all the right to inherit debt.
If you wish to read this nonsense firsthand, please go to: http://www.cityofchicago.org/content/dam/city/depts/mayor/Press%20Room/Press%20Releases/2015/September/09.22.15.pdf