Once the Marxist liberals start down the dirty road of taxation there is no telling where it will end but you can be certain that the poor and the children will be most hurt.
Giant sucking sound???,,Rahm wants to suck $500 million out of the Chicago economy.
As is true of most cities, there are many gleaming office parks in Chicago suburbs. How many companies really need to be located in the Loop, or elsewhere within Chicago’s city limits? Could this tax be the last straw??? How will Rahm stop companies from moving out of the city????
??? In four years, a business shells out the market value of its real estate to Chicago?
The city is well on it’s way to losing its middle-class tax base. In the 50’s, Austin was a decent area; now it’s a run-down drug market for the western burbs. In the 70’s, South Shore was upper-middle class, with a thriving Jewish community; today it’s another violent extension of the ghetto, with enough killings to warrant the monicker “Little Beirut”. In the 60’s, you could still commute via the El station in West Englewood; today you’d take your life in your hands if you tried that. In the 70’s, Auburn-Gresham was solidly middle-class and largely crime-free; nowadays it’s one the leaders in murder statistics. Uptown was livable 40 years ago; today it’s a dump, and Rogers Park is on the way as well. Pullman and Roseland were middle-class and lower middle-class in the 60’s; much of that area looks like Detroit today. Jeffrey and South Deering on the far South Side, Gage Park and Ferndale on the Southwest Side - civilized 50 years ago, they are mostly trashy today.
The deterioration of the city continues to expand South, Southwest, and Northwest (it’s already made it to the city limits due West), and as it does, the residential tax base evaporates - if cops, firemen and other city workers weren’t forced to have home addresses in the city limits, the collapse of that source of revenue would be even more rapid. All many residents need as an incentive to pull up stakes is another tax increase - it’s no wonder Rahm is trying to finesse that policy.