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Message
re: Chicago Mayor: city finances are at “a point of no return” & they need massive tax hikes
Posted on 8/8/25 at 7:29 am to blue_morrison
Posted on 8/8/25 at 7:29 am to blue_morrison
quote:
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 itsel
This is not accurate. They were sold by Daley back in 2008.
quote:
The "Mayor Daley parking meter deal" refers to a controversial 2008 agreement where Chicago leased its parking meters to a private company for 75 years in exchange for an upfront payment. Then-Mayor Richard M. Daley pushed the deal through city council quickly, raising concerns about transparency and oversight. The city used the $1.15 billion payment to address budget shortfalls, but critics argue the money was not invested wisely and the deal has led to escalating parking costs and other issues
0
Posted on 8/8/25 at 7:31 am to Chucktown_Badger
At least los angeles has really good weather. I dont understand how people can stick around in the expensive liberal shitholes like chicago that have shitty weather six months out of the year on top of all the other nonsense.
Posted on 8/8/25 at 7:34 am to Chucktown_Badger
quote:
I was paying $6,500 in property taxes per year for an 1,100 sq ft condo.
I'm glad you escaped and hope you enjoy your new home!
Posted on 8/8/25 at 7:35 am to SPEEDY
How is it that anyone with the means, has not moved out of that dumpster fire? If you can't change the system, I'm out of there.
Posted on 8/8/25 at 7:44 am to SPEEDY
Congress needs to make sure the FED is not the buyer of last resort when Chicago goes to the muni bond market and finds no takers.
Posted on 8/8/25 at 8:45 am to SallysHuman
quote:
I'm glad you escaped and hope you enjoy your new home!
Charleston, South Carolina. It's not cheap because it's in high demand but it's the best life I've lived and I'll never leave.
This post was edited on 8/8/25 at 9:54 am
Posted on 8/8/25 at 8:52 am to Chucktown_Badger
quote:
Charleston, South Carolina. It's not cheap because it's in high demand but it's the best live I've lived and I'll never leave.
Charleston is great, we usually like to visit there a couple times a year- beautiful and lots to do!
Posted on 8/8/25 at 9:12 am to Chucktown_Badger
quote:
…benefits increases baked into the state constitution….
That is crazy, but sounds just like something that union leaders would pressure weak and stupid City/State leaders to do.
My biggest hope is that these ridiculous pension systems crash and stop the payouts, maybe then the resulting media storm would help to expose how insane these systems are.
Posted on 8/8/25 at 9:22 am to FlyDownTheField83
quote:
My biggest hope is that these ridiculous pension systems crash and stop the payouts, maybe then the resulting media storm would help to expose how insane these systems are.
That's an extremely silly and quite hateful thing to say. There's good people that gave their livelihoods to while working, raising families and paying into those Funds. ...all while the city wasn't the "shithole" that it currently is.
Now if you want to change the state constitution to alter the payouts, that's fine, I can see that. However, you can't screw over the entire city retirees.
Posted on 8/8/25 at 9:25 am to Champagne
And which Dem is gonna win that? Please tell us all...........
Posted on 8/8/25 at 9:35 am to SPEEDY
Annnnd the cycle continues.
1. Socialist idiot runs for office.
2. Says “It just hasn’t been effectively implemented before”
3. Leftist idiots and freeloaders cheer and vote in
4. Socialist idiot starts blowing big money on himself, his entourage, and needless travel.
5. Location runs out of other people’s money,
6. Tax the rich!
7. Rich gives finger and leaves.
8. Location rushes to shithole status
9. Shithole status achieved.
1. Socialist idiot runs for office.
2. Says “It just hasn’t been effectively implemented before”
3. Leftist idiots and freeloaders cheer and vote in
4. Socialist idiot starts blowing big money on himself, his entourage, and needless travel.
5. Location runs out of other people’s money,
6. Tax the rich!
7. Rich gives finger and leaves.
8. Location rushes to shithole status
9. Shithole status achieved.
This post was edited on 8/8/25 at 9:43 am
Posted on 8/8/25 at 9:39 am to Chucktown_Badger
quote:
, I was paying $6,500 in property taxes per year for an 1,100 sq ft condo.
Got Dayum!
And most people in the north call southerners stupid.
Posted on 8/8/25 at 9:55 am to FlyDownTheField83
quote:
My biggest hope is that these ridiculous pension systems crash and stop the payouts, maybe then the resulting media storm would help to expose how insane these systems are.
They could easily START to fix the problem by creating a new system of benefits for those who are new to it...for example a regular 401k that they contribute to with minimal match from the state, instead of the insane pension, but of course they don't and they won't. The gravy train, at least for the time being, rolls on toward the cliff.
Posted on 8/8/25 at 9:57 am to SPEEDY
I’d rather pay a moving company once than pay the city of Chicago every year.
Posted on 8/8/25 at 10:05 am to hogcard1964
quote:
That's an extremely silly and quite hateful thing to say. There's good people that gave their livelihoods to while working, raising families and paying into those Funds. ...all while the city wasn't the "shithole" that it currently is.
Do you even know what those details are? If not, here's a few:
- Chicago police union members contribute just 9% of their salary to the pension
- They can retire with full benefits at either 50 or 55 depending on their start date
- They receive guaranteed COLA benefits increases of 3% every year (this is the part that's in the state constitution)...regardless of how the economy is doing. Anyone who knows how compounding interest works knows how significant this is
- The average total payout for your average Chicago Police Union retiree is over $2,000,000
If you think a) that is reasonable or b) that is sustainable, you're effing insane. Keep in mind there are similar deals for firefighters, teachers, etc.
There should be zero confusion as to why the city and state are in the situation they're in.
Fatty should be tarred and feathered.
quote:
Despite lawmaker claims of budget cuts, the 2026 budget increased by $2 billion compared to 2025. Gov. J.B. Pritzker has grown Illinois’ budget by $16 billion and enacted over 50 tax hikes since taking office in 2019.
LINK
This post was edited on 8/8/25 at 10:31 am
Posted on 8/8/25 at 10:44 am to Sidicous
quote:
Which ever is cheaper for the wealthy, tax crews or crossing the city limits, is the path they will take. Yay! More urban decay from the tax flight.
Yeah, they'll just change their primary residence, or set up their trusts in other states, which they've probably done already. So Chicago can't touch shite.
That POS doesn't have the brain capacity to understand that the rich are already protected.
God, people like this make racism flourish
Posted on 8/8/25 at 12:50 pm to tide06
quote:
This is what they voted for.
Yup.
Posted on 8/8/25 at 6:19 pm to hogcard1964
quote:
That’s an extremely silly and quite hateful thing to say.
Not really. I respect all the good employees that retired, and they do need their pensions. If they all missed one month of pension payments there would be an epic meltdown and leaders would find a way to get some payments restored.
However, isn’t it hateful to set up a system that bilks taxpayers from other states in order to prop up Chicago pensions? Where is your outrage for the taxpayers in Tennessee, or Georgia, or Florida who are being ripped off having their tax dollars go to support a retirement plan that is much cushier than anything they get?
Posted on 8/8/25 at 6:22 pm to SPEEDY
The Citizens are getting exactly what they voted for.
Posted on 8/8/25 at 6:24 pm to SPEEDY
Nothing is 'underfunded'.
It's ALL over promised. By the politicians. Using the people's $ to give them things they never asked for.
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