Chicago taxpayers' long, costly path to pension solvency (low income, sales)

[Manterro]

"The annual budget ritual is underway in Chicago and the production is often a repeat performance. The costs of city government continue to grow — considerably faster than the cost of living — and Mayor Rahm Emanuel and the City Council turn their attention to revenue: Where and how hard can we squeeze taxpayers without triggering revolt? And by revolt we mean no worse than what’s already happening. Chicago lost more population than any other of the 20 biggest cities in the country, according to the last two years of U.S. Census Bureau data. Yes, parts of the city are thriving, and Emanuel can rightly brag about attracting corporate headquarters and hipsters. But other parts of the city have been emptying out on his watch due to a combination of crime, rising taxes and poorly performing schools."


http://e.chicagotribune.com/a/hBZ6NM...384c43597e1682

[lepoisson]

Illinois and especially Chicago voters are the biggest pushovers. Several of my coworkers just say "well, we need to fix the financial crisis" when hearing about a new tax. It's almost as if they don't mind giving more of their money to the cronies. The smart folks realize there is no hope so they just pack up shop and head elsewhere.

[Vlajos]

Originally Posted by lepoisson

Illinois and especially Chicago voters are the biggest pushovers. Several of my coworkers just say "well, we need to fix the financial crisis" when hearing about a new tax. It's almost as if they don't mind giving more of their money to the cronies. The smart folks realize there is no hope so they just pack up shop and head elsewhere.

People that enjoy living in large US cities realize that Chicago is a bargain. The fastest growing household income group in the City is making +$100,000. It's lower income people that can't afford our regressive taxes that are leaving. I really don't blame them. For me? To live in the few US cities I like would cost me so much more than here, it isn't funny.

[Vlajos]

OP, where did you move? And why do you post here constantly if you hate Chicago so much?

[Maintainschaos]

Originally Posted by lepoisson

Illinois and especially Chicago voters are the biggest pushovers. Several of my coworkers just say "well, we need to fix the financial crisis" when hearing about a new tax. It's almost as if they don't mind giving more of their money to the cronies. The smart folks realize there is no hope so they just pack up shop and head elsewhere.

This is an odd outlook. God forbid people might want to, ya know, try fix the problem, which will undoubtedly require more money (just look at the size of the deficit). And it's so annoying and reeks of over-inflated hubris when people try to pretend nobody else “gets it” but them. If I recall correctly, you’re a recent transplant to the city. Things were in financial straights when you moved to Chicago, yet you still moved...? So are you categorized in the non “smart” category since all the smart folks are moving elsewhere??

There is just no way 13 million people are going to leave an entire state. No population of that size has the means, and there’s too much that is strategically positive about Illinois and Chicago to completely abandon it.

[Independentsir55]

Originally Posted by Vlajos

People that enjoy living in large US cities realize that Chicago is a bargain. The fastest growing household income group in the City is making +$100,000. It's lower income people that can't afford our regressive taxes that are leaving. I really don't blame them. For me? To live in the few US cities I like would cost me so much more than here, it isn't funny.

Chicago is a bargain? LOLOL.
Hint there are other large cities out there that are much cheaper than Chicago. In fact if Chicago was such a bargain its population would be booming instead of leading the nation in decline.

[lepoisson]

Originally Posted by Maintainschaos

This is an odd outlook. God forbid people might want to, ya know, try fix the problem, which will undoubtedly require more money (just look at the size of the deficit). And it's so annoying and reeks of over-inflated hubris when people try to pretend nobody else “gets it” but them. If I recall correctly, you’re a recent transplant to the city. Things were in financial straights when you moved to Chicago, yet you still moved...? So are you categorized in the non “smart” category since all the smart folks are moving elsewhere??

There is just no way 13 million people are going to leave an entire state. No population of that size has the means, and there’s too much that is strategically positive about Illinois and Chicago to completely abandon it.

You know how mom used to tell you not to touch the burner because it's hot, but you didn't know exactly how hot it was until you touched it yourself? That's pretty much my deal with Chicago. I knew the financial status of the city and state before moving here, but I assumed people were overreacting. I had a coworker in Texas who was originally from the Chicago burbs. He went on and on... and on about how I shouldn't move here. Now that I live here, I realize how the financial status of the city and state affect every facet of your life.

I understand that fixing the problem will require more money, but the line has to be drawn somewhere, right? My biggest beef is I feel that my tax dollars are not being spent wisely. Example: My street has been torn up and covered with a metal sheet since May. How exactly do we know our tax dollars are being spent wisely and not being used on sweet hiring packages for new employees (*cough* Preckwinkle and the soda tax).

Chicago already has the HIGHEST sales tax in the country, one of the highest property taxes in the country, and a tax on just about every facet of life. I haven't even lived here a year and I've already gotten a pay DECREASE thanks to the soda tax, new income tax rate, and upcoming cell phone tax increase. Should I expect another pay decrease in six months?

I've lived in North Carolina, Missouri, Iowa, Louisiana, and Texas and I've never had to deal with rapidly increasing taxes like here in Illinois.

Chicago is the best and most fun place I've ever lived, but Illinois is the worst place I've ever lived.

Here's my thought: I suspect that taxes will continue to rise for a few years until the can reaches the end of the road. Once the can stops, the state and city will be forced to file for bankruptcy or at least rework the pension system, because that's where the majority of the budget problem lies.

Originally Posted by Independentsir55

Chicago is a bargain? LOLOL.
Hint there are other large cities out there that are much cheaper than Chicago. In fact if Chicago was such a bargain its population would be booming instead of leading the nation in decline.

Chicago is a bargain compared to NYC, LA, and San Francisco where a 1br apartment can cost $2000 or more per month. A small home there will cost at least $500K.

My rent here in Chicago is comparable to Dallas rent. That's really incredible.

[Vlajos]

Originally Posted by Independentsir55

Chicago is a bargain? LOLOL.
Hint there are other large cities out there that are much cheaper than Chicago. In fact if Chicago was such a bargain its population would be booming instead of leading the nation in decline.

Yeah, ****ty cities. Look at the Census. It clearly tells us who is leaving and who is coming. Highly educated and high income people are moving and staying. Poorly educated and low income people are leaving. I would love it if no one left, but I'd rather lose takers than makers.

[Slats Grobnick]

Originally Posted by lepoisson

Illinois and especially Chicago voters are the biggest pushovers. Several of my coworkers just say "well, we need to fix the financial crisis" when hearing about a new tax. It's almost as if they don't mind giving more of their money to the cronies. The smart folks realize there is no hope so they just pack up shop and head elsewhere.

Many times i think about moving but I can't afford any place I like.

As bad as Chicago is, I'd rather live here than anywhere in Indiana or Texas.

[Independentsir55]

Originally Posted by Vlajos

Yeah, ****ty cities. Look at the Census. It clearly tells us who is leaving and who is coming. Highly educated and high income people are moving and staying. Poorly educated and low income people are leaving. I would love it if no one left, but I'd rather lose takers than makers.

And that is your opinion. An opinion the vast majority don't hold.
The masses carry much more weight then you. When you decide to leave your sanitized elitist bubble you'll understand.