Posted on 06/11/2020 12:08:08 PM PDT by knighthawk
Chicago Mayor Lori Lightfoot said she couldn't keep raising property taxes "off the table" as the city faces a budget shortfall and Chicago businesses struggle to recover from both looting and the coronavirus shutdown.
"I can't take it off the table, but it is truly the last thing I want to do," Lightfoot said at a press conference this week.
Laying off city employees could be on the table too as the city faces an estimated budget shortfall of $700 million.
(Excerpt) Read more at foxbusiness.com ...
Bankruptcy “should be on the table”
That will make things much better.
Chicago is going to turn into the next Detroit.
Probably the dumbest thing to do. Typical Socialista/Communista. IOW a moron!
Chicago is insolvent, of course.
Bankruptcy will just be recognition of that reality when they run out of cash to pay their bills.
Let’s see...
Layoff city employees (cops) and raise property taxes...
Will the last conservative leaving Chicago turn out the lights?
It’s never, ever, ever ‘cut expenses’ or ‘live within the budget’.
The ONLY solution democrats know is ‘raise taxes’ and ‘raise benefits to those who don’t pay taxes’!
More brilliant governing from chitcago’s liberal triple minority mayor.
On my way out!
What 89 years of Democrat rule will beget.
Curious as to WHY so few of these Democrat-run (for generations!) Cities haven’t imploded, yet.
Just how many years, or decades, are cities allowed to run in the red? Who lets them get away with all of the ‘creative accounting’ they need to keep services running, pensions paid and the welfare class fed?
Anyone know?
The shortfall is poor budgeting and structural issues from Defined benefit obligations and perhaps medical supplements.
They need a Bullet Tax.
If you’re not willing to pay higher taxes you’re racist!
Chicago and Minneapolis runnin neck and neck for that privlige
Threaten to layoff cops, fire fighters, ambulance drivers, close schools, shut down hospitals, but there’s always money to tear down block, after block, after block of productive businesses to build the new needle park or the new plaza named after the mayor!
If this is what they admit to, it must be two or three times that.....................
Which means it is the first thing she will do.
Localities never have to go bankrupt because there’s always property and sales to further tax. When those people go, they confiscate the property and sell it to the highest bidder and start taxing that person.
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