Jack up property taxes for pensions, say three Chicago Fed economists

Chicago business ^ | May 14, 2018

[InvisibleChurch]

Ugh.

[Red Badger]

Would you pay 40 percent more in property taxes if it would wipe out the state’s crippling pension debt? Yes No See results vote online survey .....................

97% NO!....................

[Obadiah]

Why don’t they copy the Seattle employer tax? (Of course, I live in a neighboring state so I’d welcome the businesses that would run away screaming.)

[Pearls Before Swine]

Sure, institute a wealth tax to guarantee the mismanaged, overpaid, and corruptly generated pension obligations.

The life of a government apparatchik is easy and comfortable.

[Raycpa]

One way U-Haul business must be peaking.

[Zuben Elgenubi]

Lol, there's a poll at the linked site: "Would you pay 40 percent more in property taxes if it would wipe out the state's crippling pension debt?"

Running 97% against.

[Dilbert San Diego]

Is this just the state pension debt? Would the city of Chicago need to levy its own additional tax to pay its pension liabilities??

What about literally every governmental unit in Illinois, with their own obligations, over and above the state obligation????

[Ken H]

Where are you going to settle all those refugees from the Sucker State?

[Responsibility2nd]

These morons in Illinois made their own beds. Let them lie in it.

No one forced them to live in a corrupt state. No one forced them to vote for crooks and democrats.

[hal ogen]

I’d hate to be in the “late” group trying to escape. Who would buy their over-taxed property? Get out while you are still able to do so.

[dfwgator]

“Politicians say ‘more taxes will solve everything’.....and the band played on....”

[Freedom56v2]

I think the dem pols who voted for this should be assessed a 40% tax on personal property...no matter where they live!

[SteveH]

Illinois Liberal politicians might view a property tax increase as a new government revenue stream from which they can spend yet more taxpayer money on more government pension increases and more “free” government services to the “needy”...

[Freedom56v2]

Yeah, just move away from ailing parents and jobs...

[Dick Bachert]

Years ago I turned down a nice company promotion because it would require me to move from the American south to CHICAGO!
THANK GOD!!!

[DannyTN]

1. They need to review the pensons and see if they are reasonable. Including if the pension is reasonable compared to most pensions, and if their were games played in the last couple of years such as excessive overtime to spike the value of the pension.
2. They need to ban pensions in favor of fully funded 401K plans. Members of governments should not be allowed to enrich themselves as the expense of their subjects.

[Architect of Avalon]

Government manages things poorly, government seeks to steal cash from homeowners, homeowners say no.

[tennmountainman]

Amen!
They made their own bed.

[Timmy]

LMAO. Right. And Illinois politicians will suddenly get religion and live within their means. No chance they will continue spending out of control, eh?

[Thank You Rush]

One word fits - NO!