Skylines, bishes

[Snake]

An audible gasp went out in the breakout room I was in at last month’s pension event cosponsored by The Civic Federation and the Federal Reserve Bank of Chicago. That was when a speaker from the Chicago Fed proposed levying, across the state and in addition to current property taxes, a special property assessment they estimate would be about 1% of actual property value each year for 30 years.

Evidently, that wasn’t reality-shock enough. This week the Chicago Fed published that proposal formally. It’s linked here.

It surely ranks among the most blatantly inhumane and foolish ideas we’ve seen yet.

Homeowners with houses worth $250,000 would pay an additional $2,500 per year in property taxes, those with homes worth $500,000 would pay an additional $5,000, and those with homes worth $1 million would pay an additional $10,000.

Is the Chicago Fed blind to human consequences? Confiscatory property tax rates have already robbed hundreds of thousands, maybe millions, of Illinois families of their home equity — probably the lion’s share of whatever wealth they had.

Property taxes in many Illinois communities already exceed 3%, 4% and even 5% of home values. Across Illinois, the average is a sky-high 2.67 percent, the highest in the nation.

In south Cook County they already average over 5%. Most of those communities are working class, often African-American. The Fed says maybe you could make the tax progressive by exempting lower values, but that’s very difficult to do and, if you did somehow exempt the poor and working class, the bill pushed to the others would be astronomical.

Those rates have already plunged many communities into death spirals, demanding an immediate solution, but the Chicago Fed apparently wants to pour on more of the accelerant.

Don’t they understand that people won’t build on or improve property when property taxes are that high? When taxes are 3 percent to 6 percent, any value you add to your home is going to be taxed at that high rate forever. Have they never been to our communities with countless disrepaired, abandoned homes and commercial properties, which are the result?

Get this, which is part of the Fed’s reasoning: “New taxes wouldn’t affect people thinking of moving to Illinois. While they would have to pay higher property taxes, that would be offset by not having to pay as much for their new homes. In addition, current homeowners would not be able to avoid the new tax by selling their homes and moving because home prices should reflect the new tax burden quickly.”

In other words, just confiscate wealth from current owners because they will pay, whether they stay or not, through an immediate reduction in home value.

This proposed tax would only address the five state pensions. What about the other 650-plus pensions in Illinois, particularly those for overlapping jurisdictions in Chicago which are grossly underfunded? The Fed was asked that at last month’s seminar and they, without explanation, said they didn’t bother to cover that.

http://www.wirepoints.com/chicago-feds-answer-for-illinois-pension-crisis-is-a-statewide-property-tax-wirepoints-original/

[Anler]

Fucking pensions are going to eat them alive. 

[Whiskey Tango Foxtrot]

NH won third! Eat it Massholes! 

[Angry ginger]

well when you consider no sales or income tax we are still pretty awesome.  

[steve from amherst]

1 minute ago, Angry ginger said:

well when you consider no sales or income tax we are still pretty awesome.  

https://wallethub.com/edu/states-with-highest-lowest-tax-burden/20494/

[Whiskey Tango Foxtrot]

38 minutes ago, Angry ginger said:

well when you consider no sales or income tax we are still pretty awesome.  

That's what's up!

38 minutes ago, steve from amherst said:

https://wallethub.com/edu/states-with-highest-lowest-tax-burden/20494/

We fucking rock!

[f7ben]

Illinois is such a worthless shithole......we should give it to Canada

[DriftBusta]

Connecticut is right there with Illinois.  And they still can’t find enough shit to tax.

[f7ben]

Just now, DriftBusta said:

Connecticut is right there with Illinois.  And they still can’t find enough shit to tax.

Its really going to come down to people leaving....services being culled and the places becoming Detroit because they were so amazingly fiscally irresponsible 

[steve from amherst]

1 minute ago, DriftBusta said:

Connecticut is right there with Illinois.  And they still can’t find enough shit to tax.

6th highest in the country. But ask them and your not paying enough.

[steve from amherst]

1 minute ago, f7ben said:

Its really going to come down to people leaving....services being culled and the places becoming Detroit because they were so amazingly fiscally irresponsible 

Can you say flint.

[DriftBusta]

1 hour ago, steve from amherst said:

6th highest in the country. But ask them and your not paying enough.

Its disgusting.  No other word for it.  I remember the lottery was gonna fix everything, then the casinos, then the income tax.  Meanwhile they gave away the store to the public unions, who somehow have a stranglehold on the balls of the politicians.  In the last 5 years, we've had the two largest tax increases in our history, and we're still broke and getting broker.  Thanks Democratic stranglehold.

[Snake]

1 hour ago, DriftBusta said:

Its disgusting.  No other word for it.  I remember the lottery was gonna fix everything, then the casinos, then the income tax.  Meanwhile they gave away the store to the public unions, who somehow have a stranglehold on the balls of the politicians.  In the last 5 years, we've had the two largest tax increases in our history, and we're still broke and getting broker.  Thanks Democratic stranglehold.

Dem run shitholes.

[Stephen Hawking]

1 hour ago, DriftBusta said:

Its disgusting.  No other word for it.  I remember the lottery was gonna fix everything, then the casinos, then the income tax.  Meanwhile they gave away the store to the public unions, who somehow have a stranglehold on the balls of the politicians.  In the last 5 years, we've had the two largest tax increases in our history, and we're still broke and getting broker.  Thanks Democratic stranglehold.

Highway tolls are next.

[Anler]

3 hours ago, f7ben said:

Illinois is such a worthless shithole......we should give it to Canada

They need a democratic governor like Minnesota. 

[Anler]

37 minutes ago, Snake said:

Dem run shitholes.

Illinois has a republican governor. Most of the illinois governor's have been republican.

[f7ben]

14 minutes ago, Nazipigdog said:

They need a democratic governor like Minnesota. 

And a Republican house and Senate like MN

[Anler]

4 minutes ago, f7ben said:

And a Republican house and Senate like MN

Oh see the have it backwards. 

[Jimmy Snacks]

4 hours ago, steve from amherst said:

Can you say flint.

You east coast faggots just watch your own bobbers.

[racer254]

10 hours ago, Nazipigdog said:

Illinois has a republican governor. Most of the illinois governor's have been republican.

I am not so sure this is entirely true.  It all depends on how far you look back.

Edited May 14, 2018 by racer254

[Anler]

15 minutes ago, racer254 said:

I am not so sure this is entirely true.  It all depends on how far you look back.

Stfu. In my whole life only 2 have been democrat. Im not even going to count that one term faggot Dan Walker because I was a baby. 

1   Shadrach Bond October 6, 1818
–
December 5, 1822 Independent 1818   Pierre Menard 2 Edward Coles December 5, 1822
–
December 6, 1826 Independent 1822 Adolphus Hubbard 3   Ninian Edwards December 6, 1826
–
December 6, 1830 Adams-Clay
Republican 1826   William Kinney 4   John Reynolds December 6, 1830
–
November 17, 1834 Democratic 1830
^[d]   Zadok Casey
(resigned March 1, 1833) William Lee D. Ewing
(acting) 5 William Lee D. Ewing November 17, 1834
–
December 3, 1834 Democratic Vacant 6   Joseph Duncan December 3, 1834
–
December 7, 1838 Whig 1834   Alexander Jenkins
(resigned December 9, 1836)   William H. Davidson^[e]
(acting) 7   Thomas Carlin December 7, 1838
–
December 8, 1842 Democratic 1838 Stinson Anderson 8 Thomas Ford December 8, 1842
–
December 9, 1846 Democratic 1842 John Moore 9 Augustus C. French December 9, 1846
–
January 10, 1853 Democratic 1846
^[f] Joseph Wells 1848 William McMurtry 10 Joel Aldrich Matteson January 10, 1853
–
January 12, 1857 Democratic 1852 Gustav Koerner 11   William Henry Bissell January 12, 1857
–
March 18, 1860 Republican 1856
^[g]   John Wood 12 John Wood March 18, 1860
–
January 14, 1861 Republican   Thomas Marshall^[e]
(acting) 13 Richard Yates January 14, 1861
–
January 16, 1865 Republican 1860   Francis Hoffmann 14 Richard J. Oglesby January 16, 1865
–
January 11, 1869 Republican 1864 William Bross 15 John M. Palmer January 11, 1869
–
January 13, 1873 Republican 1868 John Dougherty 14 Richard J. Oglesby January 13, 1873
–
January 23, 1873 Republican 1872
^[h] John Lourie Beveridge 16 John Lourie Beveridge January 23, 1873
–
January 8, 1877 Republican John Early
(acting)
(term ended January 8, 1875)   Archibald A. Glenn^[e]
(acting) 17 Shelby Moore Cullom January 8, 1877
–
February 5, 1883 Republican 1876   Andrew Shuman 1880
John Marshall Hamilton 18 John Marshall Hamilton February 5, 1883
–
January 30, 1885 Republican William J. Campbell
(acting) 14 Richard J. Oglesby January 30, 1885
–
January 14, 1889 Republican 1884 John C. Smith 19 Joseph W. Fifer January 14, 1889
–
January 10, 1893 Republican 1888 Lyman Beecher Ray 20   John Peter Altgeld January 10, 1893
–
January 11, 1897 Democratic 1892   Joseph B. Gill 21   John Riley Tanner January 11, 1897
–
January 14, 1901 Republican 1896   William Northcott 22 Richard Yates Jr. January 14, 1901
–
January 9, 1905 Republican 1900 23 Charles S. Deneen January 9, 1905
–
February 3, 1913 Republican 1904 Lawrence Yates Sherman 1908 John G. Oglesby 24   Edward Fitzsimmons Dunne February 3, 1913
–
January 8, 1917 Democratic 1912   Barratt O'Hara 25   Frank Orren Lowden January 8, 1917
–
January 10, 1921 Republican 1916   John G. Oglesby 26 Len Small January 10, 1921
–
January 14, 1929 Republican 1920 Fred E. Sterling 1924 27 Louis Lincoln Emmerson January 14, 1929
–
January 9, 1933 Republican 1928 28   Henry Horner January 9, 1933
–
October 6, 1940 Democratic 1932   Thomas Donovan 1936
^[j] John Henry Stelle 29 John Henry Stelle October 6, 1940
–
January 13, 1941 Democratic Vacant 30   Dwight H. Green January 13, 1941
–
January 10, 1949 Republican 1940   Hugh W. Cross 1944 31   Adlai Stevenson II January 10, 1949
–
January 12, 1953 Democratic 1948   Sherwood Dixon 32   William Stratton January 12, 1953
–
January 9, 1961 Republican 1952   John William Chapman 1956 33   Otto Kerner Jr. January 9, 1961
–
May 21, 1968 Democratic 1960   Samuel H. Shapiro 1964
^[k] 34 Samuel H. Shapiro May 21, 1968
–
January 13, 1969 Democratic Vacant 35   Richard B. Ogilvie January 13, 1969
–
January 8, 1973 Republican 1968   Paul Simon^[e] 36   Dan Walker January 8, 1973
–
January 10, 1977 Democratic 1972 Neil Hartigan 37   James R. Thompson January 10, 1977
–
January 14, 1991 Republican 1976
^[l]   Dave O'Neal
(resigned July 31, 1981) 1978 Vacant 1982   George Ryan 1986 38 Jim Edgar January 14, 1991
–
January 11, 1999 Republican 1990 Bob Kustra 1994 39 George Ryan January 11, 1999
–
January 13, 2003 Republican 1998 Corinne Wood 40   Rod Blagojevich January 13, 2003
–
January 29, 2009 Democratic 2002   Pat Quinn 2006
^[m] 41 Pat Quinn January 29, 2009
–
January 12, 2015 Democratic Vacant 2010   Sheila Simon 42   Bruce Rauner January 12, 2015
–
present Republican 2014
^[n]   Evelyn Sanguinetti

[racer254]

10 minutes ago, Nazipigdog said:

Stfu. In my whole life only 2 have been democrat. Im not even going to count that one term faggot Dan Walker because I was a baby. 

 

Just wanted to make sure that your blame is in the correct places.

[NaturallyAspirated]

I don't think there has been a more corrupt politician than Rod Blagojevich  

Neal

[Jimmy Snacks]

34 minutes ago, racer254 said:

I am not so sure this is entirely true.  It all depends on how far you look back.

 

3 minutes ago, racer254 said:

Just wanted to make sure that your blame is in the correct places.

Fuck you are stupid.

[Anler]

4 minutes ago, racer254 said:

Just wanted to make sure that your blame is in the correct places.

Hey I know where the blame goes. Illinois republicans arent very conservative. Illinois democrats are flat out criminals. But both parties have sent governors to jail.