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Originally Posted by SIGSEGV
I can sympathize with not liking either of them all that much, but in the end, I had to get my I voted sticker, right?
A financial transaction tax will require state law changes, no? In the end, he'll probably have to raise property taxes as everyone else has.
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A financial transaction tax is banned by state law, I think, but that’s not going to stop true believers from talking about it and trying to implement one. The rhetoric alone will cause a lot of fallout.
Very large property tax increases are most likely in the picture. Probably the new school contract worth an extra billion or two gets approved giving CTU everything they want. It’s hard to see a majority of the council putting up a fight.
Followed by a contentious budget fight a year later when the contract and other shortfalls have to actually to be payed for. That’s when we’ll see a bunch of employment head taxes, airport-related fees, mansion taxes, hotel taxes, ect. get passed as the council tries to avoid raising property taxes at once.
So I fully expect the city politicians to produce a lot of anti-business rhetoric and taxes during these years and rack up even more unpayable debt. And I don’t see much special interest from businesses in the city for some time except for corporate backend offices.
I’m not predicting doom or anything since there’s plenty of reliable young adult interest in Chicago, but I think the scenario above is realistic.
That’s how the Daley administration got the city into such a big mess in the first place. Always easy to approve contracts first and kick the can down the road.
Violence is probably going to moderate over the long run from this recent peak, but I doubt we’ll return to early 2010s lows. Simply because police are indeed important, and hiring and maintaining a fully staffed department is going be an uphill battle with Johnson openly on record as a defunder.