$250 Million = $750 Million
You have to love that new math that Rahm uses. Must be a "Common Core" thing. Monday, he spent all sorts of time with the press telling everyone how he was going to have to raise property taxes $250 million. That number was called into question by actual bean-counters at Crain's Chicago Business and the mayor's people said Rahm may have misspoken.
Misspoken?
Misspoken?
- FY 1 - taxes up $50M
- FY 2 - taxes up $50M + FY 1 $50M = $100M
- FY 3 - taxes up $50M + FY 1, 2 $100M = $150M
- FY 4 - taxes up $50M + FY 1, 2, 3, $150M = $200M
- FY 5 - taxes up $50M + FY 1, 2, 3, 4 $200M = $250M
That's $750 Million - Rahm is off by a tiny little bit, wouldn't you say?
And even though he's trying to collect three-quarters of a billion dollars, guess how much is going to Police and Fire pensions?
And even though he's trying to collect three-quarters of a billion dollars, guess how much is going to Police and Fire pensions?
- ZERO
Not a single red cent. There's a $600 million balloon payment due next year and he hasn't designated a penny to settling that obligation. And he refuses to answer any questions whatsoever when they are posed to him regarding First Responder pensions. That is worrisome and ought to be addressed as soon as possible.
Labels: pension
posted by SCC at 12:03 AM
43 Comments:
Little Boy: Daddy what is math?
Father: Son I don't know, we're democrats.
Rahmcommie: "You mean someone actually checked the numbers on my bullshit?"
Ass Sucker: "Sorry, boss. We'll fix this with a few calls to the media. We'll be filling the rags with fresh lies by the morning."
Rahmcommie: "That's not enough. I want heads to roll at Crain! How dare they point out my bullshit to the people! Fetch me McCarthy! I need a yes man to scold!"
Ass Sucker: "Sure, boss. We'll get right on that."
Meanwhile, back at the watering hole...
Hack Driver: "Boss, it's the little big guy's guy calling for you! Don't slur this time!"
McDrunk: "Yes, sir. Yes, boss. Hicup. Yes, boss. I'll fudge some numbers in a New York minute. Fuck. He hung up on me. Pour me a double."
Like the Mayor says, this is what happens when you get too many "little propeller heads" in one place...
That arrogant, condescending weasel has no intention of properly funding our pensions. He'd much rather give $10,000 to every homeless person in the city.... that's how much he despises his first responders.
Don't listen to his mumbo, jumbo double talk.
As they say actions speak louder than words. His actions have been giving us a giant middle finger for years now.
He going to raise taxes for everybody but first responders and teachers!
Failure to meet a state law he needs to be indicted
The increase in taxes will also balloon his TIF account. Nobody has brought up this point.
That's the new common corrupt math in action.
Man I can't wait to leave this place.
OK..If Rahm fails to make the payment, which agency gets to charge him with a crime?
Looking at a property increase on its own seems like not such a horrible thing, BUT...
Our taxes are already high. Our property taxes went up 10% last year. State income taxes went up 67% a few years ago (from 3% to 5% in that "temporary" increase that is now permanent). Sales taxes have gone up over the years and are now close to 10%. Fee have gone up (e.g. city sticker). Red light and speed cameras are popping up daily.
If the city & state made any efforts to reduce costs and waste, a "one time" tax increase would be easier to swallow. But it is a new increase every year with no end in sight. Businesses and workers are leaving the state every day. When will it end? Bankruptcy court? On the streets? It won't be pretty.
And what do we as Police Officers do about it? We go out and get more contact cards, scabs sign up for more vri. We bring in everything the bosses want. Why?
As was already posted elsewhere, reread the entire legislation.
All this bullshit of 250 or 750 doesn't mean a fucking thing.
This legislation puts the authority to either pay what is owed or not squarely in the seat of Chicago's aldermen and City Hall.
Do you actually think for one fucking second that once Emanuel get's to control whether or not a property tax increase is applied that he'll actually INCREASE taxes?
Not a fucking chance. This is the same bullshit they pulled in the state where they claim we can sue the comptroller if she doesn't pay what's owed.
Newsflash there too..... the comptroller isn't the one who writes the budget, she merely signs the checks. If the legislature decides NOT to fund the pensions suing the comptroller doesn't mean a fucking thing because she's not the one who dictates whether the money is appropriated to her to write those checks, the legislature is.
So in the end this is all bullshit smoke and mirrors to which we have no choice but to fight to it's fullest extent in the courts, because there IS no funding mechanism guarantee other than the guarantee that WE will be paying more into the funds and when the time comes, that they'll hit us again and cut more benefits to avoid paying what they owe.
It's called DALEY math.
The Shitcago taxpayers love it.
Tiny dancer is a shady,sneaky raccoon,it's clear he has no intention on paying the $600 million,we all know he has a plan,and it includes lube,be ready bots and girls.
What about the alleged $500 mil in T.I.F. funds? Notice the mayor is keeping the T.I.F. slush fund for his big projects, instead of paying the pensions, keeping property taxes affordable.
what's even more worrisome is that we may get stuck with this snake oil salesman for another 4 years if someone doesn't come out and challenge him next election--- this yellow bellied weasel has done nothing for this city but raise fees and stick his filthy paws into everybody's cookie jar--- he has created way more problems than he has attempted to solve...
No more pension money after 2016. Better keep working or find another job.
You heard it here first!
Mayor Rahm's goal is to kill all city pensions and healthcare cost! Then his goal would be to move all city employees, into garbage 401k's, and Obamacare, that his buddies at the Fund and Health companies will make a killing $$$ from and Rahm will get campaign kick backs!
The DemocRATic way!
Because he's not gonna pay and fuckit if you don't like it and you will come to work and you will produce if you want to work vri and if you don't then I will get the sup to come down on the lame fucking bosses who will come down on the sargents who will run to the patrolman and threaten to spar you for stupid shit ....... Fuck you bottom line is we are fuck but I'm not doing shit this mayor and the one before him can both go fuck themselves
Rahm plan is to not fund our pensions in a timely manner and hope that the fund just runs out of money. Your deferred comp will be your source of income upon retirement.
The city council wants to know how to come up with the $600 million without raising property tax. Pretty simple, use all revenue generated from movers, parkers and ANOV citations to fund the pension. I would say that every street copper would write numerous tickets every day and supervisors would no longer have to threaten officers to write tickets. Its a win for everyone.
He cant comment on pensions until he gets his buddy Rauner in there.
"Like the Mayor says, this is what happens when you get too many "little propeller heads" in one place..."
4/03/2014 01:19:00 AM
Rahm picked up some more of that "tough talkin man of the people" act from Rauner, "bird hunter who rides a Harley."
Here, have a dip, fellas...
>>>patoo<<<
Yeah screw the working man over again, hey how about cutting some of the freebies given to the parasites leeching off the government teet...
It's amazing how you hear about pensions and social security running low or out, but never about welfare!
You're right Anonymous, and de-facto
Gov. Madigan wants to transfer
property-tax raising from the
state to the city council to make it
easier for Rahm and his 50 stooges
to help themselves to new money
whenever they feel the need without
having to justify or answer to anyone.
Propellor head? Rahm is one brilliant guy.
I bet the mayor steals his childrens money from their piggy bank when his children are sleeping. He is SCUMBAG
Any increase in property taxes from what I am now paying will force me out of the city and state. Living on a fixed pension, that they now want to take away. I love my home and lived in the city all of my 61 years of life. Now I wont be able to die and be berried here.
Thanks Mayor and all the Dems.
Cook County states there are 640,000 property tax bills sent out for the City of Chgo. That equates to $1000 for each tax bill to make the 600 million dollar payment. This is only averaging the numbers. Some properties are worth more or less as we know, but RAM could have eased the shit stick by assessing $100 on every proprty across the board 3 years ago instead of schemeing how is he gonna avoid this, who is he gonna get elected to help him weasel out and how can he thrust the blame on us.
I keep saying this - to think you're going to get a fully funded pension especially with these assholes in charge is bordering on delusional. We know that the city will fund everything else under the sun before they get to pensions, and even then they'll get to police/fire pensions last.
So start throwing money into a retirement account. Seriously.
I say we should strike every last police, firefighter and paramedic should strike. We have no other option the city violates law and the contract and nothing is done about it let's see what that midget ballerinina would do without first responders. The police on strike can work at the stores in the gold coast, Lincoln park and river west until strike ends. There would he a thousand murdered in a week.
For three years Rahm bitched about the $600m. In three years Rahm had spent millions on parks, bike lanes and a stadium. How much could have been set aside in 3 years, $4-500m? Never admonished Daley for neglecting pension funds, but rahm went along with "fly-overs" and namesake memorials.
Furthermore, I believe that $600m is coming from Springfield in the form of funding, so it's not like Rahm has to write a check. The Governor withholds that funding and diverts it to the Police & Fire Pension.
That brings up Gov Quinn and his quest to remain in office. Rahm is pulling for pal Rauner who will give Rahm an extension on that payment. Quinn may be holding out for Rahms endorsement, which he hasn't said a word about. Hmmmm. The ball is in Quinn's court and he is key to our pension. I think Quin will be on the side of First Responders and the IL constitution.
Ben Javorsky nails it again in this article about Rahm, our pension, and the TIF's.
http://www.chicagoreader.com/Bleader/archives/2014/04/02/mayor-rahms-pension-plan-means-more-slush-for-his-tifs#.UzynqDweDIc.email
Altho choosing between Quinn & Rauner is like choosing between syphilis and herpes, I will agree with the Quinnochio on at least one thing: we should move away from reliance on raising revenue from property taxes, and shift it towards the income tax.
This idea is not new; it has been around for decades. It just hasn't got any traction. Higher property taxes hits those on fixed incomes (like little old ladies) really hard. Shifting that burden to the income tax would be a whole lot fairer, aligning the obligation to pay with the ability to pay.
Mikey "The fix is in" Madigan ain't gonna like it because he reaps a small fortune get peoples property taxes reduced.
Toni "Sue the mortgage lenders because I hate white people" Preckwinkle aint gonna like it either, because that would mean less money following into Cook County Coffers for all her ghetto-giveaways.
Pat "fastest broken campaign promise in history" Quinn would like it, because it is more money flowing into the state coffers to help him compensate for his complete lack of fiscal discipline. But Quinn can not be trusted. Ran on a campaign promise of no more tax increase. But 60 days into office put thru THE LARGEST TAX INCREASE IN ILLINOIS HISTORY. That makes Quinn a L-I-A-R.
All just like turds swirling in the bowl.
Try and not pay your red light ticket!
watch as your sergeant enforces bill payments on city time because the city does not feel they need to follow federal collection laws.
Don't buy a city sticker on time and look at the inflated rates.
What other business double it prices if you pay like like parking tickets and then takes your car and sell it for penny's on dollar.
Wake up we don't work for the good guys anymore!
They just need to cut:
* Bike path fly over = $60M
* Obummer library = $100M
* Maggie Daley Park = $55M
* Depaul private stadium = $25M
Looks like a good start toward making the balloon payment right there...
I was recently talking to a copperf from DC....their pension? 105% funded. It CAN be done.
Ok, is Rahm rubbing off on Gary by screwing with numbers, or is it the other way around?
Anonymous Anonymous said...
Any increase in property taxes from what I am now paying will force me out of the city and state. Living on a fixed pension, that they now want to take away. I love my home and lived in the city all of my 61 years of life. Now I wont be able to die and be berried here.
Thanks Mayor and all the Dems.
4/03/2014 12:22:00 PM
I love pickled berries! It's buried for heavens sake.
Here is an article SCC that explains how the city could use TIF funds and what has happened for the last decade. Might be worth writing about.
http://www.suntimes.com/26616561-761/city-should-have-turned-to-tifs-instead-of-property-tax-hikes-study.html
Anonymous said...
I say we should strike every last police, firefighter and paramedic should strike. We have no other option the city violates law and the contract and nothing is done about it let's see what that midget ballerinina would do without first responders. The police on strike can work at the stores in the gold coast, Lincoln park and river west until strike ends. There would he a thousand murdered in a week.
4/03/2014 12:44:00 PM
we can not strike! .. says so in our contracts... no strike clause.. where you been?
"I love pickled berries! It's buried for heavens sake."
As you so insecure you need to make fun of another poster's spelling mistakes? I'm sure you are a real rocket surgeon yourself.
I say we should strike every last police, firefighter and paramedic should strike. We have no other option the city violates law and the contract and nothing is done about it let's see what that midget ballerinina would do without first responders. The police on strike can work at the stores in the gold coast, Lincoln park and river west until strike ends. There would he a thousand murdered in a week.
4/03/2014 12:44:00 PM
we can not strike! .. says so in our contracts... no strike clause.. where you been?
4/03/2014 10:39:00 PM
Humping for Rahmmie at VRI.
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