Illinois Eyes 30 Cent Gas Tax Hike, Chicago Faces Yet Another Property Tax Hike

Tyler Durden's picture

Authored by Mike Shedlock via TheMaven.net/MishTalk,

The Illinois legislature is in recess right now. Other than disbanding the body, that's the best place for them.

When they return, they are going after your pocketbook in the form a gas tax hike. Not to be outdone, Chicago Mayor Rahm Emanuel is pondering property tax hikes.

In July, the State legislature overrode Governor Rauner's veto and passed the largest tax hike in history. The hike raised the individual rate to 4.95 percent from 3.75 percent and the corporate rate to 7 percent from 5.25 percent.

With those hikes, households making about $100,000 will pay an additional $1,200 in taxes each year.

But that was not enough. It never will be.

Today, the Illinois Policy Institute CEO John Tillman emailed, "The Illinois General Assembly will be back in session next week. And guess what? They’re already talking about raising your taxes again. This time, they’re discussing increasing gas taxes. Lawmakers haven’t released specific numbers yet, but talks have ranged anywhere from an additional $0.05 to $0.30 a gallon."

Tax Hikes in Chicago

Chicago taxpayers face yet another property tax increase for police and fire pensions in 2020 — and another hike the following year in the tax tacked onto water and sewer bills to save the Municipal Employees pension fund, aldermen learned on the first day of City Council budget hearings.By the city’s own estimate, police and fire pension costs will rise by $297.3 million, or 36 percent, in 2020. The Municipal and Laborers plan costs will grow by $330.4 million, or 50 percent, in 2022.

 

“We’ve done the biggest [property tax] increases,” Chicago Chief Financial Officer Carole Brown said Monday.

 

“But there will be an increase in 2020 for police and fire. The increase for Muni and Laborers will happen a couple years later.“

 

When this Council passed the water and sewer tax last year, there were assumed increases in the tax from the first year to correspond to increases in the ramp. We would anticipate that if those were the revenue sources assigned on a going-forward basis after we got to actuarial funding, there would need to be increases in those revenues.”

Big Round of Thanks

Neighboring governors are offering their thanks to Illinois.

In a fundraiser for Rauner, three neighboring GOP governors, Scott Walker of Wisconsin, Eric Greitens of Missouri, and Eric Holcomb of Indiana each delivered a sarcastic “thank you” to Illinois House Speaker Mike Madigan for “raising Illinois taxes” and “helping create new jobs” in their states.

  • "For raising Illinois' taxes, our economy's on fire," Scott Walker stated.
  • Missouri Governor Eric Greitens chided Madigan, "We’re growing good jobs."
  • Indiana Gov. Eric Holcomb offered, "We’re growing union jobs faster than Illinois. So, we owe you."
  • Holcomb added, "Hoosiers love you, Mike Madigan."

 

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Bill of Rights's picture

Illinois citizens need to run this fucker out of state and string him up by his balls on the border...

NoDebt's picture

Welcome to the world of unavoidable mathematical consequences.  This didn't start with Rahm and it won't end with him, either.

Just sit back, relax and watch the taxpayers and pensioners rip eachother the pieces for the next two decades.  This is going to happen virtually everywhere in that span of time.

 

bamawatson's picture

great pic of rahm showing how far his finger went up homobama's ass

Creepy_Azz_Crackaah's picture

Butt he's Dear Leader Obama's guy so everything that he wants to do must be great!  No need to report any of it, "news" peoples.

IH8OBAMA's picture

Say, how's that soda tax doing?

And, why is Rahm's wedding band on his right hand?  Because he's a backwards sort of person?

 

wee-weed up's picture

 

 

For Libs, implementing knee-jerk taxes to solve problems...

Are like the proverbial guy with the hammer...

Every problem looks like a nail.

cheka's picture

as faithful cucks to the nyc.zio.dc order, chicongo is tbtf

goy will get stuck with the bill

 

HockeyFool's picture

Taxes will go up for everyone in Shitcago that can avoid being shot.

I was in Shitcago this past summer for a funeral. 70% of the people I saw were Mexican/Hispanic. I think Ciccero is 90% wetback now.

I was happy to leave town.

Agent P's picture

Taxes, taxes, and MOAR taxes!!!  Here's a novel idea....maybe they should look at the cost side of the equation. 

Pernicious Gold Phallusy's picture

That's where gay men wear their commitment band.

yogibear's picture

Hope the people in the neighborhood graffiti Obama's library in Chitcago.

jcaz's picture

Barry is taking a lesson from the Clinton playbook- there won't be a library in Chicago for Barry, but there will be on Epstein Island.......

NewHugh's picture

Those fingers look pretty short...

2Blondboys's picture

There is no math that can fix Illinois. My advice is to get out now. The hole is too deep. Nothing can be done. I know. I lived there and left.

813kml's picture

If that University of Illinois professor gets her way math will be outlawed and it's problem solved.

Toxicosis's picture

This will not take two decades.  Everything socially, morally, and economically is already collapsing and getting worse everyday.  The cost of living may very well double in the next couple or few years, pensions are done on top of all of this, and the governments at all levels desire to keep themselves alive as an organism of continuous hunger and need. 

jcaz's picture

...But according to the CPI, inflation will be "low", so the Fed will continue to be carefully watching........

Michigander's picture

Pensioners will leave to find lower costs of living.

Taxpayers are leaving to find lower costs of living.

WIN-WIN!

rockstone's picture

They can't. They would then have to all hang themselves. They're just as responsible.

G_T_A_44's picture

Upside Down. Worst thing that happened to Chicago in some time. They've had their fair share but, this animal requires extinction.

homiegot's picture

Everything these goons touch turns to shit.

BandGap's picture

These goons are pitching for Amazon to make Chicago the other hub.

Someone should post the utter bullshit they touted. Who the fuck would want to live in Cook County, IL? And the fucking suburbs are even worse for property taxes.

 

Dun_Dulind's picture

Just nuke the state from orbit, it's the only way to be sure.

historian40's picture

Chicago is a long-time den of the wicked antichrists that rule the US.  I wouldn't step foot there, let alone have property.  The foreign agent, Rahm, believes your property belongs to him anyway.

Arrow4Truth's picture

Went to Chicongo once. Once...

topspinslicer's picture

Sounds like Economic War -- will the tax slaves revolt and kill many of the ruling elite? The ugly mayor looks like he already has two black eyes

Scuba Steve's picture

thats what happens when you taffy pull all night at the bathhouses in uptown shitcago ...

NoDebt's picture

God dammit, we have pensions to fund!  Fuck, what is wrong with you people??

My next twenty years of entertainment is locked in.  This shit is going to go on and on and on.

Do you want to know when it's going to end?  I could tell you but that would spoil all the fun.  (Hint: the baby boomer generation has to start dying in big numbers.)

 

Robert A. Heinlein's picture

'election's have consequence'.  You voted for these fuckers! wtf does that say about ya'll?!  Carry on.  LMAO

Baron von Bud's picture

Change the retirement rules. No pension until age 62. No 20yrs and a pension for cops and fire. It's called restructure. But, probably laws against it.

brown_hornet's picture

Illinois constitution prohibits pension changes. Already upheld by the state courts.

 

that which can't be sustained won't be.

Antifaschistische's picture

If it were an option,

1. I would consider freezing all pension annuity benefits.

Example:  If you're 52 and will be eligible for 3000 per/month when you retire...freeze the 3000 right now and do not let that increase with continued years of service.

2. if lump sum distributions are available...squeeze them

3. Raise the age of eligibility age 6 months, every year, for the next 12 years and use in conjunction with #1.

4. Increase employee contribution requirements considerably...if there are any. 

813kml's picture

Too complicated, divert all of the CIA's ISIS weapon drops to South Chicago and let God sort it out.

Scuba Steve's picture

Haha, LMFAO ... BAM !!! There it is ...

Infinite QE's picture

Done. Been underway since Rahm took office. They are building a black muzzie bolshevik army.

Team_Huli's picture

How about learning to cut an expense or hidden crime, rather than fund more?

Number 9's picture

rahm is a dual citizen..how da fvk does that happen in this country? Israelis dictating policy to Americans.. holy shit we are doomed

Loanman26's picture

There's dozens and dozens of those dual citizenships in CONgress.

Yeah , you guessed it, Israel.

dchang0's picture

Re: "Indiana Gov. Eric Holcomb offered, "We’re growing union jobs faster than Illinois. So, we owe you.""

What, is this dumbass not paying attention? Public sector union pensions are a big part of what is kiling Illinois. This is like bragging that they caught HIV or Ebola from their neightbor.

BarkingCat's picture

Lot of manufacturing in those states.

He probably meant private industry union jobs.

Those states are fucked up union states.

Stan Smith's picture

The shit show in Illinois is tip of the iceberg type stuff.   They are fucked with a capital F.    It'll be bad many many places.   But Illinois has the high taxes,  but nothing to keep folks there.    The West Coast has sunshine and tech.    The East Coast has high finance and high end politics.    Chicago,  and Illinois in general has none of that.

Get your popcorn.

jmack's picture

Greater federal control threatens the laboratories of the states that offer some level of competition and thus restraint on these moronic  blue states.  When the Fed's dictate that every state has to have fucked up California or Illinois taxes and regulations, everywhere gets to be as expensive and useless as California and illinois.

kevindow's picture

We visit and enjoy the sights and cuisine, but would NEVER, EVER live in Chicago or Illinois. I just pray that the Federal government will NEVER, EVER bail out Illinois, which is destined for BANKRUPTCY. Eventually, Illinois will become the Utopia of liberalism, which is of course, Venezuela. 

SantaClaws's picture

Last I heard there were a lot of guns on Chicago's streets. 

Ikiru's picture

No way man! The strict gun control laws made them magically disappear.

Team_Huli's picture

The only time guns are on the streets, is when the chalk outline is being drawn.

IH8OBAMA's picture

Hey!  Isn't that illegal?

tangent's picture

No tax is more overtly criminal than property tax. You "own" your property but you have to pay its full value to the government twice every generation? In most cases it makes more sense to formally rent instead of playing pretend game of "ownership".

I warmly welcome the people of Illinois to New Hampshire, which has among the best economies in the world, and the least socialist economies in the world. Of course all the least socialist economies have always been and will always continue to be the most successful places, obviously. Why people commit them selves into such hell holes will never be in my understanding. Even someone like a small business owner can still uproot and find more success in a less parasitic place because they don't have to fight uphill every inch as much.

BarkingCat's picture

Are you fucking insane?

Aren't the people from Massachusetts causing enough problems in New Hampshire?

Do you really want to import idiots of an even higher level?

freedom1798's picture

You never own your house.  The government does, and it will let you live in it only if you pay your annual property tax.  The fact is, nobody really owns anything, because everybody eventually dies.  We are all just renters.