Chicagoans are buried under so much pension debt it’s impossible to see how their city can avoid a fiscal collapse without major, structural reforms. The futility of paying down those debts becomes obvious when you try to figure out just who’s going to pay for it all.
The total amount of city, county and state retirement debt Chicagoans are on the hook for is $150 billion, based on Moody’s most recent pension data. Split that evenly across the city’s one million-plus households and you arrive at nearly $145,000 per household.
That’s an outrageous amount, but it would be a clean solution if each and every Chicago household could simply absorb $145,000 in government retirement debt. The problem is most can’t.
One-fifth of Chicagoans live in poverty and nearly half of all Chicago households make less than $50,000 a year. It wouldn’t just be wrong to try and squeeze those Chicagoans further, but pointless. They don’t have the money.
So if that won’t work, why not just put all the burden on Chicago’s “rich?” After all, Illinois lawmakers are pushing progressive tax schemes as the panacea for Illinois’ problems.
If households earning $200,000 or more are the target, they’ll be on the hook for more than $2 million each in government retirement debts. That’s an outrageous burden, too.
Saddling just a few households with all the debt will give those residents all the more reason to leave. And that will make the burden all the more unbearable for the Chicagoans who remain.
Pride Weekend Stupidity Idiots jumping on a cop car.Sunday will likely produce a level of stupidity rarely seen on the North Side outside of St. Patrick’s Day or Halloween. As always, our colleagues over at CWBChicago will have a complete breakdown of the day’s events. . 9:00p Stupidity Tally: 4 killed, 48 wounded 2018 weekend tally: 3 killed, 23 wounded 2017 weekend tally: 7 killed, 47 wounded* 2016 weekend tally: 5 killed, 29 wounded* 2015 weekend tally: 5 killed, 24 wounded 2014 weekend tally: 2 killed, 42 wounded . heyjackass.com/
Just print more money for the pensioners. They stamp out millions by the truck load anyway, it's not like a few (hundred) more millions is going to hurt.
Matthew Johnson
What is allocation of resources you have, the actual leftist economy, none of this money printing you talk about?
Jose Morris
Money printing is actually a valid solution, on the federal level. Chicago is fucked. They need intense austerity, and will probably need the national guard to help prevent the city from collapsing into Somalia. There's something so magnificently atrocious about White leftists ruling over brown hordes. It's not like brown leftists ruling over brown hordes, where it just gets silly.
the niggers all deal crack rocks and the jews will all evade taxes, this tax burden is only going to be forced on the few white people left in chicongo
Joseph Watson
Those white people working 80 hours per week will just have to work harder.
Aaron Hughes
Name literally a single time a country has had hyper-inflation from overprinting without there being some other economic disaster coinciding with it. The Weimar Republic had the Ruhr occupied. Zimbabwe kicked out all the Whites, and ruined its agriculture industry. Venezuela destroyed its entire economy because it thought it could rely on oil, and then fucked up its oil industry too. The problem isn't that printing money is automatically inflationary. People want money, so there's no reason for them to want less of it just because some guy across the country has an extra dollar that was printed. The problem is when you spend so much that you raise demand beyond supply and cause inflation. This is part of those examples I mentioned earlier. Countries suffered a disaster, which lowered their output, and suddenly everyday spending was much beyond the real amount of goods and services in the economy.
Seriously, read Gottfried Feder. Read C.H. Douglass. Even the leftists understand much of this, have you ever looked into MMT? I'm so fucking sick of "National Socialists" who retained all the economics from their libertarian phase. I intend to create as close to a Utopia as I possibly can, and I don't want god damned lolbergs fucking it up just because they watched that one cartoon that argues for a gold standard and names the Rothschilds.
Joshua Ward
It makes a lot more sense when you stop buying the marketing that the average republican has some latent affinity for White people and come to understand that they are the strongest force for White oppression the world has ever seen.
Jordan Watson
Shitcongo and corrupt Crook county is a living breathing example "niggers and jews bad news".
Joshua Gomez
tl;dr your opinion is shit
Tyler White
More than half of USA federal budget financed with money printing. And this proportion only rises with each president. Taxes are toxic and outdated concept in the current year.
It's the dosage that makes the poison. And it's always a bad idea to reinforce a bad behavior such as bailing out stupid people.
Brandon Thomas
So if you're just going to ignore what I said about supply and demand then please tell me: How much money can we get away with printing?
Aiden Bennett
Congratulations, motherfucker, you managed to screw up a basic bitch "taxes are evil" statement.
Ayden Clark
I can ask you basically the same thing, do you know how much money we can get away with printing? When does money printing raise the demand beyond supply and cause inflation? We both don't know. It's the same as asking "how much smoking can I get away with before I get lung cancer?". The best possible choice in this matter is to not do it. Again, people aren't mathematical functions that always do the same thing when you give the same parameters. They will always try to game the system. The moment you give incentive to bad behavior, such as irresponsible spending with money bailouts, things will go out of control, as they already have.
Matthew Jackson
First you have tax and spend Then you have spend and don’t tax Finally you have tax and don’t spend
Jace Ortiz
(OP) the extreme right have done good work in 2019.a attack on moslims,an attack on jews,and a race traitor is killed. if there are still people that want to do a attack,they can do a attack against the apes.but better do another group then 'muslims' 'jews' and 'traitors' because that is already done. death to the apes.god don't want negro apes.
