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* I was determined to make this a normal workday, with a subscriber edition and a full day of blogging. Well, I’m not gonna make it. I need a nap. This bug has really got me. I’ll be back in a couple of hours or so.
In the meantime, if you click here you’ll see Chris Kennedy’s economic plan. Take some time to read it through and then let us know what you think of it. Greg Hinz did a quick write-up as well.
posted by Rich Miller
Thursday, Jan 11, 18 @ 11:41 am
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Your sick and you want us to read some ChrisKennedy mish mash? Let’s just enjoy a few hours of warmth
Comment by Annonin' Thursday, Jan 11, 18 @ 11:48 am
Hinz writes that Kennedy gave no indication about reducing pension benefits. And how can Kennedy do that? The courts have already ruled that pension benefits are protected under tge state constitution. I am surprised Hinz brought this subject up.
Comment by My New Handle Thursday, Jan 11, 18 @ 11:50 am
Not surprised Hinz brought it up. With every campaign there are two possibilities-
1. Remain silent on it because you know it is a legal non-starter, and the silence plays well to your political base without causing unnecessary turbulence among others.
2. Make all kinds of statements on how you are going to “solve” the pension problem by reducing benefits, knowing that it is likely you will accomplish nothing, and the noise plays well with your political base.
There are good reasons for doing either one.
Comment by Six Degrees of Separation Thursday, Jan 11, 18 @ 12:02 pm
Wife’s been down with the flu for 5 days now and just beginning to get better. Don’t push t, Rich, or you will just delay the recovery. Keep lots of fluids handy.
Comment by RNUG Thursday, Jan 11, 18 @ 12:21 pm
Building and paying for an equitable economy in Illinois are two separate things.
I like the recognition that “Illinois is a donor state” and the plan to get more money back from the feds. Perhaps he will apply this concept to the “donor cities” in Illinois to ensure they are also getting their fair share from the State Government.
Comment by City Zen Thursday, Jan 11, 18 @ 12:25 pm
They might not reduce benefits but they can tax pensions at some level….?
Comment by nobody Thursday, Jan 11, 18 @ 12:47 pm
Flu. 2-2/2 weeks. Been sick as a dog.
Comment by blue dog dem Thursday, Jan 11, 18 @ 12:59 pm
=== They might not reduce benefits but they can tax pensions at some level….? ===
It’s constitutional to repeal the complete tax exemption for retirement income. If JB wins and we get to vote on a graduated income tax, perhaps retirement income above a certain level could be taxed. On the other hand, there are political risks in going after retirees or those close to retirement.
Comment by anon2 Thursday, Jan 11, 18 @ 1:07 pm
Cold had me down for 5 days in mid-Dec, but the cough and congestion are still winding down…ugh.
To the Post…
I find the pledge to “Organize Non-Tenure Track Faculty” curious, especially considering the pledges directly above that which aim to revitalize the Universities and Community Colleges. Why not fund an initiative to help consolidate those part-time positions into full-time positions. Once full-time, those faculty will be able to produce the innovations and graduates Kennedy is promising. Part-time faculty do not have the time or resources to perform research, help students outside the classroom, and develop new curriculum, key components of higher ed that have been falling by the wayside.
Comment by Pot calling kettle Thursday, Jan 11, 18 @ 1:15 pm
Kennedy’s plan amplifies themes he announced his first week as a candidate — that the best path to job growth downstate is through investments in community colleges and higher education.
Comment by West Wing Thursday, Jan 11, 18 @ 1:23 pm
I feel ya Rich. Been sick all week. Just came back fron doctor. He says this is a particular stubborn strain. Hope we both get to feelin better.
Comment by Generic Drone Thursday, Jan 11, 18 @ 1:27 pm
if these are his specifics, it looks like Daiber is still in the lead with his vague proposals. I’m sick of Hubs, minimum wage, tourism (?) as ways to pretend that’s how we are going to get out of the red.
Comment by Rutro Thursday, Jan 11, 18 @ 1:34 pm
Meh. A commitment to a $15 minimum wage is good, but the rest of it seems like hot air. A lot of (virtual) ink was put into all those paragraphs about universities, but there aren’t any specifics.
Comment by Angel's Sword Thursday, Jan 11, 18 @ 1:45 pm
I’ll read it after Chris Kennedy reads it first.
Comment by VanillaMan Thursday, Jan 11, 18 @ 1:49 pm
Taxing my retirement would be quite costly for me. Movers are not cheap.
Comment by The Magnificent Purple Walnut Thursday, Jan 11, 18 @ 1:57 pm
“we will hold regional Blue-Ribbon Economic Development Summits” Boom, there it is…
Comment by Skeptic Thursday, Jan 11, 18 @ 2:26 pm
Naps are good. They replenish and recharge us, help us heal and escape our pain and discomfort for a while.
Comment by Grandson of Man Thursday, Jan 11, 18 @ 2:27 pm
Well, organizing non-tenure track faculty is a sop to SEIU. Increasing MBE/WBE set-asides is a sop to the African-American political and business elite. Is there any group he is not pandering to, besides taxpayers?
Comment by 47th Ward Thursday, Jan 11, 18 @ 2:31 pm
Lol Illinois index fund. SERS should NOT be in the business of reducing their holdings in diversified funds just to say they’re “buying Illinois” companies. Would be interesting to see if an options chain starts up to short the fund from CBOE and CME. I’d venture to say that companies do NOT want to draw attention to themselves by being apart of the “Illinois” index fund.
Comment by California Guy Thursday, Jan 11, 18 @ 3:38 pm
No mention of the always popular film industry.
Very little mention of manufacturing, retail, or insurance - all big sectors of the economy.
Illinois index fund is very novel.
Comment by Anonymous Thursday, Jan 11, 18 @ 4:16 pm
Rich, take it easy, man. This influenza or whatever it is has had me below-par for almost two weeks; can’t remember a bug that zapped me this way.
To the Post, the Illinois Index Fund sounds like a solution in search of a problem. It’s a stretch to argue that Boeing, for example, needs any help with “capital formation.” (BTW, their stock price doubled over the past year, too.) Further, I don’t think there are enough large-cap Illinois companies to properly replicate the S & P 500. Oh, and SERS doesn’t invest any money, it’s the State Board of Investment. Details, details.
Kennedy should also be asked how he is going to handle investing the family money if he is elected Governor. There are those who might call that two full time jobs.
Comment by Arthur Andersen Thursday, Jan 11, 18 @ 4:42 pm
Yeah I think the Kennedy hedge fund (family office, Joseph P. Kennedy Enterprises) has estimated assets under management of around $1 billion. He is President of it. Def a full time job. I’d imagine he’d have to step down temporarily to run Illinois.
Pritzker is around $3.4-3.6 billion. Rauner around $1 billion.
2018 Governor’s race is basically all private equity guys (most from inherited wealth). Didn’t see that coming.
Comment by California Guy Thursday, Jan 11, 18 @ 6:42 pm
Hope ya feel better soon Rich
Comment by Milkman Friday, Jan 12, 18 @ 3:11 am