During the Great Depression it was not bank foreclosure that cost most people their property, it was failure to pay property taxes. If an economic downturn becomes aggressive, will the result be “ownership” of vast swaths of property by taxing authorities? At what point would the electorate literally revolt? Are we due to find out what happens when property tax rates cross the Rubicon to yield an outright collapse in real estate market value? Perhaps then we’ll see John Q. Public awaken from his stupor and vote to throw the bums responsible for this cataclysm into unemployment (and strip them,… Read more »
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
During the Great Depression it was not bank foreclosure that cost most people their property, it was failure to pay property taxes. If an economic downturn becomes aggressive, will the result be “ownership” of vast swaths of property by taxing authorities? At what point would the electorate literally revolt? Are we due to find out what happens when property tax rates cross the Rubicon to yield an outright collapse in real estate market value? Perhaps then we’ll see John Q. Public awaken from his stupor and vote to throw the bums responsible for this cataclysm into unemployment (and strip them,… Read more »