Ouch.
I’m nearly speechless. I just posted this on thedailypage.com:
Q: When does $21,000,000 equal $750,000?
A: When the Chamber of Commerce buys a study on paid sick leave from NorthStar Economics.
The study suggests a $4.2 million to $20.1 million hit on the city’s budget. But even if all the study’s other contested assumptions are used, the State Journal’s review suggests that the revised impact on the city’s budget would range between about $150,000 and $750,000. Read the rest of the article here.
Talk about having egg on your face . . . from the WSJ yesterday . . .
But Brandon said he welcomed the study, echoing Alexander’s past complaints that local empirical data was not available to guide debate.
“For the first time we’re dealing with real numbers,” he said.
ouch. How can someone who claims to know so much about a budget and taxes make such a big mistake. Wasn’t it obvious to him how far off the numbers were . . . a few basic simple calculations were enough to see there were problems.
