Chicago Mayor Pushes ‘Mansion Tax’ on Homes over $1 Million – National Review*

"And while it’s helpful to look at what’s happening in other cities, it’s important to be realistic about the housing market in Chicago. High-end home sales are already declining...Meanwhile, commercial real-estate sales have been down 51 percent through the first six months of 2023. A sluggish real-estate market combined with a tax that will presumably put a damper on property sales in the city are a recipe for failure."
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Giddyap
2 years ago

Johnson has zero understanding of how the real world and economics works — this is why very socialist economy is a miserable failure

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Mark Glennon on AM560’s Morning Answer: Chicago pension buyout plan mostly shifts debt rather than eliminating it, property tax surge doubles inflation over three decades

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.

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