-- Connecting the dots between our economy, government and business --
A growing number of local governments are using ballot referendums to raise real estate or other business taxes, often to fund progressive goals such as building supportive housing for homeless people. Voters in San Francisco; Santa Fe, New Mexico; and Silicon Valley’s Mountain View recently backed various tax hikes to fund homeless services, or to develop affordable housing. And Evanston recently decided to use its transfer taxes to fund a reparations program for Black residents.
Audio and summary linked here.
A mess of uncertainty and litigation is sure to follow.
Summary and audio linked here.
With $162 billion more from taxpayers, couldn’t you deliver a few bond upgrades, too
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WSJ already reports many multi-million dollar homes in LA are now marketed as “for rent”, rather than “for sale”, specifically because of this newly-enacted mansion tax, absolutely intended to avoid or restructure anticipated tax burden due to a sale. The number of closed LA mansion sales has dramatically dropped; LA mansion-owners actively seek alternate disposition approaches, including creating new ultra-luxury rental-properties from their “mansion” homes. Rich people have the ability to create the creative “workaround” for many wealth-tax situations. Chicago is a perpetual “johny-come-lately”, belatedly adopting progressive policies already proven to be failed implementations elsewhere in its role-model “woke” paradigm… Read more »
SHOCKER!!, major Chicago news outlet actually compares Chicago progressive crazy legislation to what has happen with similar legislation in other libtard cities!!