(2) in Aurora tonight at 6 pm on ACTV-10, also known as Cable Ch 10 and Aurora Community Television
Porter, who will decide this summer if he will join a then likely field of GOP Gov primary candidates Businessman Gary Rabine (R-Woodstock) U.S. Marine vet and former State Sen. Paul Schimpf (R-Waterloo) and downstate farmer and Sen. Darren Bailey (R-Louisville), lambasts the Democratic Party for its predatory government, such as Red camera laws, which he says were designed to take money from low income citizens to empower the politicians.
Porter, a Republican National Committman, is highly critical of Gov. Pritzker for shutting down the IL economy needlessly. Porter contends if we had followed the data, we would have kept our public schools(K-12) and places of employment open.
Richard Porter referred to data that showed “Kids don’t get seriously sick from Covid at school,” and most people younger than 60 without serious pre-existing medical conditions (including teachers), could have gone- and still can go- to work safely.
Porter argues Pritzker’s misplaced priorities failed to protect the most vulnerable from Covid19-the elderly in nursing homes- where more than half of the 19,000 IL C19 deaths occurred.
In that show, Porter attributes much of what he understands about economics and managing risk to his almost three decades of Kirkland & Ellis corporate, transactional law experience, calling himself a “Legal plummer.” That legal practice includes Mergers and Acquisitions, financings and helping corporations survive bad financial health via the bankruptcy process- and emerging as a restructured, viable firm.
So, he argues his almost three decades of legal practice prepared Porter to take on Illinois’ $440 billion pension liability problem as Governor.
Porter said the massive IL population loss during the last decade is due to residents voting, with their feet, against an unholy alliance of Democratic politicians with unions to promote both Democratic political power and outrageous pensions, such as 325 K per year for New Trier High School Superintendents and sixteen thousand state employees with pensions in excess of 100K per year.
So, Porter says the solution to IL’s fiscal disaster is to pass federal legislation that returns power in Illinois to the people, giving them the authority to direct their elected state and local government representatives to cut and restructure government pension benefits to numbers that are reasonable for the taxpayers, government employees and pension plans, going forward.
This restructuring, said Porter, would allow local governments to live within a state passed cap of property taxes to no more than one per cent of the market value of the taxpayer’s property. One per cent is the national average and IL is at least double that, at more than two percent.
With the power to cut city, village and suburban teacher and other local government employee pension benefits to levels competitive with the private sector, Porter contends local school districts who are performing well can maintain their current quality of education because their costs will be lower, and thus their new lower revenues from lower property taxes will be sustainable.
And, Porter contends, with this restructuring of pensions and other reforms, including more school choice, those school districts that are not performing well can also be expected to improve.
Moreover, quality teachers and administrators will still be attracted to teaching because pensions of up to more than 100K for teachers and up to 325 K for superintendents are not what a competitive, free market requires to bring people into and keep them in K-12 teaching.
Further, Porter contends the above referenced federal legislation is constitutional because under Article 4 (which guarantees each state a republican form of government of the people, by the people and for the people), the commerce clause and supremacy clause of the U. S. Constitution, federal law trumps state law and state constitutions.
Politically, Porter thinks the Republicans in Congress could trade their support for some aid to blue states to assist with their state government fiscal issues in exchange for Congressional Democrats agreeing to return power to the people in States like IL, who are now almost powerless to cut massive pension benefits and liabilities.
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