Chicago's Continuing Downward Spiral

From Chicago Contrarian we get an update of Chicago finances. Chicago Mayor’s Progressive Budget Fantasy

As I type this, Chicago still does not have a budget for the coming year, though of course that can change at any time. Mayor Brandon Johnson has been fighting for a "head tax," a tax on every employee of every business with 100 or more employees, payable every month. Even the Democratic governor of Illinois, not so affectionately known as Fatso, doesn't think it is a good idea.

The balance of the mayor’s budget will remain largely intact, including almost 20 tax and fee increases that are not tied to the taxpayers’ income bracket. This includes the regressive increase to the Cloud Tax that will increase the nation-leading 11 percent tax on computer use and services to 14 percent. This will further solidify Chicago’s standing as the highest taxed city in the highest taxed state in the nation.

Add high and increasing taxes, to high crime, and it is little wonder that people and businesses are fleeing the city. And while crime in Chicago is somewhat lower than it was during the lockdowns, or during the Summer of Love, it is still high.

Unfortunately, while many City Council members have become emboldened to tackle the mayor on single issues like his proposed property tax increase last year and this year’s Head Tax proposal, they have neither the access to the information nor the analytical expertise to undertake the needed comprehensive review of city spending despite the [Ernst & Young] road map.

So Chicago will continue on its course of financial collapse.