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re: Chicago Mayor: city finances are at “a point of no return” & they need massive tax hikes

Posted on 8/7/25 at 4:12 pm to
Posted by This GUN for HIRE
Member since May 2022
6089 posts
Posted on 8/7/25 at 4:12 pm to
Looks like Chicago is in the finding out stage.
Posted by FlyDownTheField83
Auburn AL
Member since Dec 2021
1639 posts
Posted on 8/7/25 at 4:12 pm to
quote:

…more pension liabilities than 43 states…


This is the biggest financial issue and you will never hear an elected Democrat in Illinois talk about it. The pensions for teachers union retirees and City employee retirees are extravagant by the standards of retirees in most all other types of employment.

The way they propped it up recently was using massive amounts of federal funds supposedly for COVID response, which means taxpayers from other states were paying off their pension debt in Chicago,……infuriating.
Posted by blue_morrison
Member since Jan 2013
5941 posts
Posted on 8/7/25 at 4:14 pm to
quote:


Doesn’t Chicago not even get revenue for their parking meters? Read that they sold them for cash years ago and they’ve already doubled that return for whoever bought them


Not a penny. That whole thing was sold to some overseas investor during *08 collapse for an extremely long lease, one time payout. Zero revenue goes to the city itself.

Fox Chicago News Article
This post was edited on 8/12/25 at 9:31 pm
Posted by RockyMtnTigerWDE
War Damn Eagle Dad!
Member since Oct 2010
108989 posts
Posted on 8/7/25 at 4:22 pm to
States and cities are going to go broke, not only the illegal spending, but the ever growing pensions they have to fund is going to come apart at the seams.
Posted by back9Tiger
Island Coconut Salesman
Member since Nov 2005
17962 posts
Posted on 8/7/25 at 4:23 pm to
PaY tHeiR FaIR sHaRe!!!

Derp.


Losers... they con you into voting for them, they spend all that they have and them come to you asking for more. the rich will leave all blue cities and the red states will have them all. Then what are you dumbasses going to do?
Posted by Houag80
Member since Jul 2019
19587 posts
Posted on 8/7/25 at 4:24 pm to
Chicago to see a mass exodus....as the rich wypeople head out
Posted by TechBullDawg
Member since May 2014
2532 posts
Posted on 8/7/25 at 4:25 pm to
And he thought Kamala would bail his city out

Tough shite
Posted by GeauxBurrow312
Member since Nov 2024
6273 posts
Posted on 8/7/25 at 4:26 pm to
quote:

Not a penny. That whole thing was sold to some overseas investor during COVID for an extremely long lease, one time payout. Zero revenue goes to the city itself.



They sold it way before COVID, it was one of Richard Daley's final acts as mayor. It was big national news at the time, I forget which of the major banks got in shite for conducting the deal.

They sold it to the Arabs


Edit: pulled up the stats. They sold it in 2008 for a lump sum of $1.15 billion

Since then, the parking meters have generated over $2 billion, and there is still 58 years left on the lease
This post was edited on 8/7/25 at 4:28 pm
Posted by ShermanTxTiger
Broussard, La
Member since Oct 2007
11384 posts
Posted on 8/7/25 at 4:32 pm to
Death spiral.. just like Detroit
Posted by NC_Tigah
Make Orwell Fiction Again
Member since Sep 2003
139071 posts
Posted on 8/7/25 at 4:37 pm to
quote:

city finances are at “a point of no return”
Good!
quote:

they need massive tax hikes
Good!

Chicagoan voters FAFO'd.
This post was edited on 8/8/25 at 5:19 am
Posted by Chicken
Jackassistan
Member since Aug 2003
27478 posts
Posted on 8/7/25 at 4:41 pm to
quote:

The "Ultra Rich" will hire tax accountants and attorneys to find loopholes
the ultra rich will leave Chicago...only issue they will have is finding someone to buy their place
Posted by Madking
Member since Apr 2016
70815 posts
Posted on 8/7/25 at 4:41 pm to
Bring on the bread lines
Posted by LSUtoBOOT
Member since Aug 2012
20432 posts
Posted on 8/7/25 at 4:42 pm to
Let the fatass governor write a check, he’s a billionaire communist.
Posted by lsusteve1
Member since Dec 2004
47866 posts
Posted on 8/7/25 at 4:45 pm to
Rich people be leaving Chicago
This post was edited on 8/7/25 at 9:22 pm
Posted by Jrv2damac
KS
Member since Mar 2004
73197 posts
Posted on 8/7/25 at 4:46 pm to
Has Chigator weighed in?
Posted by MemphisGuy
Germantown, TN
Member since Nov 2023
14709 posts
Posted on 8/7/25 at 4:59 pm to
quote:

the ultra rich will leave Chicago


At what point do some of these place attempt to start taxing people for leaving? Or attempting to tax them. Because I can 100% see some democrat trying it. "If you lived in Chicago at any point in the year and no longer live in Chicago, the entirety of your income for the year shall be taxed at a rate of not less than 45%. You must pay your fair share, and it is not fair to your fellow Chicagoans for you to live them footing the bill by themselves." or something along those lines.
Posted by theCrusher
Slidell
Member since Nov 2007
1741 posts
Posted on 8/7/25 at 5:01 pm to
quote:

The consequences of prioritizing illegal aliens over your own citizens. Who knew?


For votes and power. Not because they wanted to help them.
Posted by idlewatcher
Planet Arium
Member since Jan 2012
97055 posts
Posted on 8/7/25 at 5:05 pm to
I heart this welcome news
Posted by BrohemAlem11
Ratchet City, LA
Member since Oct 2014
13831 posts
Posted on 8/7/25 at 5:23 pm to
cool...so now the ultra rich are going to ultra move the frick out of your city and you will collect 0 taxes from them
Posted by Revelator
Member since Nov 2008
62082 posts
Posted on 8/7/25 at 5:36 pm to
Wait, so free stuff actually has to be paid by someone?!
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