Chicago faces a significant and growing public pension problem. Instead of tackling the problem head-on by holding down cost increases, Chicago Mayor Rahm Emanuel proposes several new or expanded taxes, which he says will slow down the debt growth from the revenue end. Emanuel’s half-billion-dollar property tax hike is getting most of the headlines, but he has also been pushing for taxes on e-cigarettes, ridesharing, and cloud computing.
The New England Journal of Medicine yesterday published a letter claiming that vapor contains “hidden” formaldehyde at far higher levels than cigarettes (here), which made headlines worldwide. That conflicts with a report I discussed last week, documenting that formaldehyde levels in e-cigarettes were far lower than those in traditional cigarettes (here).