Good day all. During the standard Friday Night Document Dump, a story came out from Chicago. As we all know, the Progressive Liberal Fascist Democrats have run the city’s finances right into Lake Michigan. Basically, the city is dead broke.
Mayor Rahm Emanual’s answer is the standard one for the PLFD’s. Raise taxes. The city wants to raise $500 million dollars by increasing property taxes. Needless to say, this is going over like a lead ballon. Here are some of the details from CBS Chicago:
Seventy people spoke in 100 minutes during the meeting, at Wright College in the Dunning neighborhood on the Northwest Side. Those who couldn’t be succinct were cut off before they had a chance to make their point; but plenty did so, mostly airing a variety of complaints.
As we’ve seen elsewhere, some of these complaints are from people who worship at the foot of the Great Spaghetti Tree. However, not all of these people were of the loony type.
A handful of people voiced outrage about a proposal to fill most of next year’s budget gap through a $500 million property tax hike. “You raise the taxes, you’ll see a mass exodus of people getting the hell out of this goddamn city,” one man shouted.
That, of course, fell on deaf ears.
Earlier in the day, the mayor defended his push for a major property tax hike, acknowledging it would be a tough pill to swallow for taxpayers, but saying it’s necessary to shore up police and firefighter pension funds, restore the city’s worst-in-the-nation bond rating, and solve the city’s long-standing financial crisis.
Let’s start taking this apart, shall we? First, as to it being a “Tough pill to swallow,” raising taxes on people’s home is liable to force them out of them. There comes a point when raising taxes actually lowers the amount of revenue coming in. Second, as to the pensions? Why do you think they are in such sorry shape in the first place? Probably because they are beyond gold plated.
Chicago is a big Union town, much like Detroit was. In Detroit, the unions and their bought politicians drive the auto industry out of the city and Detroit into bankruptcy. The same thing has been happening in California and other cities. They have no choice but to declare bankruptcy and kill off the pensions.
And finally, the utter and complete incompetence of the PLFD’s who’ve been ruining the city for decades, refusing to take the actions that would have prevented this problem, are the reason the city’s bond rating is in the toilet.
“This will be, obviously, difficult. And I don’t underestimate the difficulty. That’s why it’s going to be done in the most fair and progressive manner,” the mayor said.
[youtuber youtube=’http://www.youtube.com/watch?v=Gbp_JQ7RxqM’]
Progressive and fair are two words that should never appear in the same sentence. It’s the “Progressive” part that is the reason Chicago is in the crapper in the first place. We are seeing the results of “Progressive” city and state governing around the country. California is losing it’s most productive people, and businesses continue to flee hit tax and regulatory states for warmer southern climates. Rahm Emanuel may think that he’s going to get a big pile of cash coming in, but in reality he’s going to see more productive people fleeing the city. It’s happened before, it’s happening now and it will happen again. Being a Progressive means never having to actually learn things like economics.
Thatisall
~The Angry Webmaster~
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