The new statewide sugary drink tax, on top of Cook County’s similar tax and Chicago’s highest-in-the-nation sales tax, would make soda prices in the city skyrocket.
It’s no secret Chicago aldermen aren’t friendly to outsider businesses and innovative industries. Here’s a look at some of the most egregious examples from 2016.
The head of the Illinois Municipal Retirement Fund, or IMRF, has dismissed calls for pension reform, disregarding the fact that pensions aren’t manageable, benefits aren’t affordable, and previous “reforms” propped up pensions on the backs of new workers.
For each percentage point drop in the private sector’s share of the state economy, Illinois household incomes fall by over $3,000 on average. Unfortunately for Illinoisans, the private sector’s share of the Illinois economy has dwindled as government’s share – enabled through tax-funded spending – has risen to 25 percent.
In 2016, Chicago and Cook County officials approved new tax and fee hikes that will hit already overburdened residents. A taxpayer bill of rights could prevent politicians from constantly nickel-and-diming residents to make up for budget shortfalls.
Chicago’s $1.15 billion projected budget gap is the latest in a decades-long string of structural deficits. Making Chicago’s high taxes worse is not the solution.