Maybe it's the "letter to the editor" section in other news sources, but on Illinois Review, it's "Let the People Speak" -
We need cost-cutting pension reforms -
For those unfamiliar with the issue, Governor Pat Quinn is backing pension reform drafted by Elaine Nekritz that would shift the cost of teacher pensions to local school districts. The Illinois Democrat leadership’s idea of “pension reform” is to push the responsibility of funding pensions down to our local school districts. They are kicking the proverbial can down the road.
This would mean higher taxes on property owners since school districts will have to pass the cost down to us property owners. When you read “cost-shift,” think tax increase. This would put our school districts budgets and therefore our property taxes at the whim of Democrat leadership. Think about that—those of us who pay property taxes will be paying for any pension enhancements, pay bumps, and abuse included with our public pension system.
We need cost-cutting reform and fairness. Democrats and Republicans alike need to take a page from the private sector playbook and move away from this unsustainable form of retirement system. Such a plan would end the pension abuses we read about and control the costs that are bankrupting our
state.
Jackson Jenkins of Naperville, IL
Expect more about Romney and Bain Capital -
The next Obama push on Mitt Romney is going to be a guilt by association between Mitt Romney and Bain Capital and those dirty rotten investment bankers who got rich through the creation, sale and trading of financial assets -- packaging and selling bunches of mortgages which were worth squat, selling them overseas as rated securitized mortgage 'just like the hallowed Ginnie Mae which operated within strict standards
I call that the creation of financial assets.
Bain Capital was in the investment banking business as well. Its function was to use money they had raised to create real assets, turn around around companies, cutting out the fat to be sure, but increasing their productive capacities, hiring new managers, create jobs, invest in new equipment, in creasing profits and market share. This would, other things being equal create a better bottom line and increase the value of the shares of stock, which represented the interest of the owners. Based on the increased value of Bain holdings in a company they would then sell their interests on the open market.
In every single instance they invested money and put it at risk. Money put at risk deserves a greater return related to the probability of failure -- losing everything. Bain investment was sizable.. Were they successful in every venture? Were they able to save every company, change the downward slide into bankruptcy and foreclosure and make a profit? Of course not. If they were, Bain would have been better for the country than the financial asset plays that have made Berkshire Hathaway and Warren Buffett a household name.
Bain was a helluva lot better that the U.S. government in deploying capital at risk. If it hadn't been, its investors would have flown the coop.
Pete Speer - Wheeling Township
Tell Homer Glen "NO" on property tax hike
The Village of Homer Glen is run by an elected Board and Mayor. Their job is to represent the residents. They were not elected to do extreme things that are very controversial like buy the Dunn Farm, and now pass a $50,000,000 bond for buying the water company, putting sewers in unincorporated Homer Township, and getting an open checkbook for various projects. Before putting a General Obligation Bond (property tax) on the residents this Board should put it to Referendum to let the people decide. There is a total lack of information. I for one don’t know if the Board understands what they are doing to the people. They expect us to say vote for it at the August 28th meeting and find out what we will get later. Sounds Like Nancy Pelosi and the Health Care Bill.
I thought they needed the 1% sales tax to stay in the black, but now they imply they did not need it at all to be solvent. They can put it toward paying the bonds. They will have to abate the property tax every year or we taxpayers get the bill. What if the Board comes up with a new expensive expansion of government and decides to stop abating the property tax because they can. There are so many unanswered questions, statements that are misleading, with the goal of encumbering the 1% sales tax, so the Village Board won’t lose their "1% sales tax cash cow" if the Home Rule Referendum fails in
November. In the Old days deception like this resulted in Tar and Feathers. Today we can all show up August 28th and tell the Board no Property Tax.
Steve Balich, Homer Glen
