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New Chicago Mayor Plans $2B Taxpalooza On Businesses, Suburbs, Hotels, Commerce, Banks
Posted on 4/5/23 at 3:53 pm
Posted on 4/5/23 at 3:53 pm
quote:
Johnson’s plan to freeze property taxes on Chicago homeowners and cancel the automatic escalator imposed by Mayor Lori Lightfoot. The escalator locks in annual property tax increases at the inflation rate. He does not, however, specify a rate for a city income tax.
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Homeowners in predominantly Hispanic wards are struggling to hang onto their homes after enduring increases in both assessments and property tax rates, with some bills up by more than 40%.
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Instead, he wants to “make the suburbs, airlines & ultra-rich pay their fair share” to generate “$800 million in new revenue.” “The suburban tax base utilizes Chicago’s infrastructure to earn their disproportionately higher income, yet their taxes fund already wealthy towns. A Metra “city surcharge” will raise $40 million from the suburbs,” his plan states, without saying precisely how the commuter tax would be imposed or at what level.
quote:
Johnson’s plan also includes: • Reinstating the $4-a-month-per-employee “head tax” to generate $20 million, but confining the levy long-despised by Chicago’s business leaders to “large companies” that perform at least half their work in Chicago.
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Raising $98 million by “making the big airlines pay for polluting the air” in Chicago neighborhoods.
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Taxing financial transactions — Johnson calls it a “Big Banks Securities and Speculation Tax” — at a rate of $1 or $2 for every “securities trading contract.”
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Hiking a Chicago hotel tax that’s already the nation’s highest to generate $30 million more.
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Imposing “new user fees for high-end commercial districts frequented by the wealthy, suburbanites, tourists and business travelers” to generate $100 million.
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raise the real estate transfer tax on high-end home sales to create a dedicated source of funding to reduce homelessness and create affordable housing. Johnson said what he calls a “Chicago Mansion Tax” would raise $100 million a year.
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“expanding” the city’s health care plan for public employees
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“The revenues and efficiencies in this plan add up to about $2 billion total to close Chicago’s current, $1 billion structural deficit and add another $1 billion in new investments from the Better Chicago Agenda,” Johnson’s plan states.
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United Working Families, a progressive group affiliated with the Chicago Teachers Union that has joined the CTU in endorsing Johnson, has long championed a $4.5 billion wish list of revenue-generating ideas it says would level the playing field between Chicago’s haves and have-nots. That group’s plan includes a 3.5% city income tax on Chicagoans and suburbanites earning more than $100,000 a year; a financial transaction tax; a 66% increase in the city’s hotel tax, which is already the highest in the country; a revived employee head tax; and raising the real estate transfer tax on high-end home sales.
Chicago Sun Times
Posted on 4/5/23 at 3:54 pm to LuckyTiger
Im sure raising taxes on middle and upper middle class suburbs will have great results both short and long term
Posted on 4/5/23 at 3:55 pm to LuckyTiger
quote:
“The suburban tax base utilizes Chicago’s infrastructure to earn their disproportionately higher income, yet their taxes fund already wealthy towns. A Metra “city surcharge” will raise $40 million from the suburbs,” his plan states, without saying precisely how the commuter tax would be imposed or at what level.
Just how does he plan to tax people that don't even live in Chicago?
Posted on 4/5/23 at 3:55 pm to LuckyTiger
It’s not a revenue problem, it’s a spending problem.
Posted on 4/5/23 at 3:56 pm to LuckyTiger
quote:
Reinstating the $4-a-month-per-employee “head tax” to generate $20 million
Kamala is mad she hasn’t thought of this yet
Posted on 4/5/23 at 3:58 pm to BuckyCheese
Easy. Tax wages earned in the city. Give a credit of same amount if you live in the city.
Posted on 4/5/23 at 3:59 pm to LuckyTiger
quote:
Instead, he wants to “make the suburbs, airlines & ultra-rich pay their fair share”
Fricken A!!! MOAR!!! MOOOOAAARRR!!! Get in those insufferable suburban liberal Karen’s travel ball, Starbucks, and shopping budgets!!
Don’t forget about reparations!!!! Need surburban money for that too!! Billions worth!!!
MMMMOOOOOOOAAAAAAARRRRRR!!!!
Posted on 4/5/23 at 3:59 pm to BuckyCheese
quote:
Just how does he plan to tax people that don't even live in Chicago?
If you find out let us know.
"Let's raise taxes on that town 30 miles over to pay for our shite."
Posted on 4/5/23 at 3:59 pm to LuckyTiger
When the last person leaves Chicago, please turn out the lights.
Posted on 4/5/23 at 4:00 pm to LuckyTiger
Every single tax listed is quite literally a “don’t come to Chicago” tax.
Posted on 4/5/23 at 4:03 pm to pankReb
quote:
Every single tax listed is quite literally a “don’t come to Chicago” tax.
It’s like they are seeing what’s working for Florida and Texas, and intentionally do the opposite.
Posted on 4/5/23 at 4:03 pm to LuckyTiger
The above raging stupidity is exactly why recalling Destroya wouldn't improve anything anyway.
Blue shitholes are shitholes for a reason.
And that reason has nothing to do with Christian White Nationalists (whatever the frick that means).
Chicago is precisely the opposite of MAGA Country
Blue shitholes are shitholes for a reason.
And that reason has nothing to do with Christian White Nationalists (whatever the frick that means).
Chicago is precisely the opposite of MAGA Country
Posted on 4/5/23 at 4:05 pm to BuckyCheese
quote:
Just how does he plan to tax people that don't even live in Chicago?
It’s how Baton Rouge uses taxes collected from the surrounding unincorporated areas to fund all the shite BR itself cannot itself pay.
Posted on 4/5/23 at 4:06 pm to LuckyTiger
I hope he finds a way to institute every single one of those ideas just so I can sit back and watch Chicago die in real time.
Posted on 4/5/23 at 4:07 pm to LuckyTiger
Black politicians view this as a form of reparations. I don't understand why a white person would still live in Chicago right now.
Posted on 4/5/23 at 4:07 pm to tigeralum06
quote:
Tax wages earned in the city. Give a credit of same amount if you live in the city.
No one wants to send their kids to Chicago Public schools.
Posted on 4/5/23 at 4:10 pm to Auburn1968
quote:
When the last person gets shot in Chicago, please turn out the lights.
FIFY
Posted on 4/5/23 at 4:12 pm to LuckyTiger
quote:
United Working Families, a progressive group affiliated with the Chicago Teachers Union that has joined the CTU in endorsing Johnson, has long championed a $4.5 billion wish list of revenue-generating ideas it says would level the playing field between Chicago’s haves and have-nots. That group’s plan includes a 3.5% city income tax on Chicagoans and suburbanites earning more than $100,000 a year; a financial transaction tax; a 66% increase in the city’s hotel tax, which is already the highest in the country; a revived employee head tax; and raising the real estate transfer tax on high-end home sales.
Another great big arse dose of Socialism, the Progressive way of doing all things.
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