I thought the sales tax hike to 10.25% for Chicago and Cook County was bad, then today I read these articles reporting on Mayor Rahm Emanuel's proposed tax hikes to "save" the city. http://www.chicagotribune.com/news/...roperty-tax-hike-met-0903-20150902-story.html https://www.illinoispolicy.org/mayor-emanuels-property-tax-hikes-750-million-is-just-the-beginning/ http://www.caintv.com/rahm-proposes-record-breaking The proposals are insane and citizens are incensed. Additionally, there are many lesser nuisance taxes affecting both citizens and visitors. Obviously other large urban cities have severe financial problems, but Chicago's problems are beyond the pale. Woof!
Not all that different then the tax hikes that go on in New York Baudwalk, if fact it is pretty much the same thing that we went thru not that long ago. You literally are taxed silly in some areas. While I am sure it is all for a good cause, Police and Fire are a good thing there is no doubt- it just seems like the long term plans are never really thought thru. namely how will this all be funded? It is very similar to the same type of thing I am seeing going on this year in the condo's we manage. We are doing the budgets for the next fiscal year and everyone wants stuff yet no one wants to pay the bills that go with getting this stuff. I fear it is a small reflection of the greater whole that is going on in all of society. The best solution that I arrive it is to simply convince people of the difference between true needs and things that are just wants. my theory is if you want it bad enough you will find a way to make it happen. You might need a roof or a road, but you definitely do not need bushes (or to open the swimming pool- but they didn't agree.) Sadly if Chicago plans to push this in the direction of the tourist trade they will be only helping themselves short term, at best this is a sure fire way to really accelerate the death spiral. Seldom does anyone see the wisdom in growing income streams when it is easier to shake down outsiders. Hopefully the election cycle will change this before Chicago does end up like Detroit.
We have a 9.5% sales tax where I live and it really can suck a person's wallet dry. I have started to do a lot of my shopping for clothes and other items online where you don't have to pay that kind of tax money. It only works if the store chain does not have a physical presence in your state though. I am just glad that food is not taxed or I would really be broke.
