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A coalition of progressive groups and a handful of aldermen are getting specific about increases to a bevy of taxes to fill Chicago’s budget hole, including restoring and increasing Chicago’s corporate head tax to $16 per month for large companies, instituting a 3.5% tax on office leases, a hike in the hotel tax from 4.5% to 7.5% and a local income tax on those earning above $100,000 a year.
That's just the start. See their whole "Re-imagine Chicago Platform linked here.
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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The kabuki theater of Democratic politicians goes on. In the end the teachers union, fire fighters union have all the cards because the Democratic politicians will buckle and say they tried…..
They choose public safety over solvency
Think
Detroit…Detroit….Detroit…..Detroit……..
Screw it. Let’s do it. i am sure taxes won’t influence behavior at all.
For the past 90 years the only solutions that Chicago Democrats have ever offered for city costs is to raise taxes. Period. Democrats believe that government is infinitely good and superior to the private sector in all respects thus there is no amount of taxation that will ever satisfy this goal of infinite government largess.
“Aside from progressive revenue proposals, the group is calling for a freeze in the Chicago Police Department’s budget, a moratorium on the city privatizing services, and a halt to TIF subsidies for developments aimed at wealthy neighborhoods. ” I agree with all of these proposals…..this is crazy, I agree with Progressives? There’s got to be a catch…oh wait, there it is, in the next paragraph: “…It [the group] wants $2 billion in additional city spending for affordable housing, reopening the city’s closed mental health clinics, an expansion of early childhood education, and a year-round youth jobs program.” OK, there’s the… Read more »
These people are idiots, just goes to show you don’t need to understand how business works to become a politician. You can say you’re taxing the big bad corporations but when they pass that tax along as price increases who really pays it? They’re so dumb that argument would go right over their head.
I’m at the third paragraph of the .pdf and laughing already
just… holy shit is the city done for if they give in to these lefty lunatics
Bye bye, business.
This is exactly what many of us have been saying…..the tax hikes coming from every direction in that state from A-Z and they are coming hard and fast …. that is all the reptiles know as they are public pension whores. “Scorched Earth Decimation of taxpayer” only to feed the pension beast for a few more years. You have to be out of mind to stay in that hell hole state if you make anything more than $100k and probably more like $75K…. you are dead meat to these criminals.