Editorial: Sports betting could help the Illinois treasury. But new taxes applying only in Chicago are folly. – Chicago Tribune*

"This is why Chicago Mayor Brandon Johnson floating a citywide sales tax on services is absurd. All that would do is hand suburban commercial building owners a brutally effective new marketing tool to woo law firms and other service providers now based in Chicago."
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Do the Math
1 year ago

In the 1980’s when city hall put a large mooring tax on the boats in the Chicago Harbors, many of the boaters moved to marinas outside of Chicago. Lost of revenue to the Chicago Park District and jobs in the marine industry. They reduced the tax and some of the boats came back. If winter storage and marine repair services will be taxed, all the Chicago boat yards will be gone. It is hard to tax items that are mobile. Chicago’s southeast side has very few gas stations because the gas is less expensive in Indiana. The difference is the… Read more »

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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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