Chicago officials mounted a strong attack Wednesday against legislation that would require the city to dramatically increase the amount of money it puts toward the retirement of its police and firefighters.
That's because Chicago has been perennially underfunding that pension plan, and the longer they can keep lying about it the better they can make things look in the short term.
Unfortunately just as with the national debt and adjustment necessary to cover it Chicago has dug itself a monstrous hole.
"The reality is that this change would mean a property tax increase of at least $550 million for Chicago property taxpayers or a nearly 60 percent increase," Saffold said. "This would be a staggering blow to property taxpayers. This would, in fact, be the largest property tax increase in the city's history."
Got it folks?
Lying for years has now built in a sixty percent increase in taxes that will have to come eventually.
Can you put it off for a while? Sure, with more fraud.
But does that change anything? No, it does not. It will in fact only make the eventual increase worse.
Keep lying to yourself America...... right up until you're thrown out of your house because you can't pay your property taxes.
Where We Are, Where We're Heading (2013) - The annual 2013 Ticker
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