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Freshman Ald. William Hall, Mayor Brandon Johnson’s hand-picked chair, also warmed to possibly leveling the tax playing field between the haves and have-nots by seeking legislative approval for a city income tax on salaries over $100,000 earned in Chicago or taxing stock holdings and personal liquid assets of wealthy residents.
Summary and audio linked here.
Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.
Expect no retraction or apology. This what they do.
The state’s existing buyout program for its own pensions is the precedent for Chicago, which should be a warning: Look out for similar exaggerated claims and shoddy analysis.
Full interview and summary linked here.
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Taxing helicopter rides from downtown to the airport?
They are fantasizing about taxing businesses that do not even exist.
This is madness
Lol… there has not been commercial helicopter service in Chicago for almost 60 years. Once upon a time there was service between Meigs, ORD, MDW, and even in the 50’s several suburban points and Gary. A similar helicopter ride now would cost almost as much or more than economy airfare to your final destination…
Here’s Ald Hall on ST Fran Spielman interview show talking about new revenue ideas. clearly the guy has no clue and all he talks about are vague progressive equity platitudes. The Fran Spielman interviews are pretty good. Go to approx min 21:
https://art19.com/shows/the-fran-spielman-show/episodes/b77ad4ba-c8ea-4b87-85c5-2ed92723ca3f
ALL THESE PEOPLE DO IS TALK ABOUT TAKING YOUR MONEY…….HOW ABOUT DOING THE RIGHT THING WITH THE MONEY YOU DO COLLECT……..LIKE USE IT FOR THE AMERICAN CITIZEN AND CITY NEEDS NOT SQUANDERING IT ON DUMB PROJECTS ETC…………….
If Chicago wants to get more tax revenue they need to encourage businesses to relocate here. Reopening Meigs Field would be a good way to show Chicago’s commitment to recruiting businesses back to the downtown area.
The state constitution specifically states that any “tax on or measured by income shall be at a non-graduated rate.” A tax on incomes over $100,000 essentially creates two tax brackets. It’s a non-starter.
So even if the city could convince the GA to let Chicago levy a city income tax in such a manner, they would first need a constitutional amendment. And because you know the city really wants to tax commuters, they’d have to get support from politicians who represent suburbanites who would receive no benefit from this new tax.
Anyone making 100K a year is not even considered middle class anymore.
So don’t complain about public sector workers making 100k per year. It’s not even middle class anymore. When those contracts expire those unions should demand higher wages.
So you want the government class to be protected from the consequences of the government’s actions while struggling ordinary Illinoisans have to pay for that middle class lifestyle they don’t get? Sounds about right for Illinois.
https://www.wsj.com/articles/unions-ask-illinois-voters-to-sign-over-control-of-the-state-constitution-pensions-teachers-parents-taxes-costs-corruption-11666375517
“Billionaires and millionaires are not even paying taxes”
Sorry, not buying it. And even if it were true, but it’s not, why go after everyone making $100,000 rather than these billionaires (are there any left in this city?)?
The government does not want everyone to have skin in the game because then they would have to make hard decisions. This way the government can vilify a class of people which is very small vote wise. Unfortunately for the government the money these people have means they can and will relocate.
NOPE…MOST HAVE MOVED TO A NORMAL CITY…..
A city income tax which will only affect the rich……
Old Joe actually paid City of Detroit income tax in the 1970s while making $4.49 per hour!
Also paid City of Pontiac income tax while a college co-op student at General Motors in the early 80s!