“For half a century, Chicago has proclaimed itself ‘the city that works.’ This year, Mayor Richard Daley might consider an addendum: ‘excluding furloughs and the day after holidays.’ Chicago is grappling with a sinking tourism-and-convention sector, plummeting revenue from real-estate transfers and a deflated financial-services industry. After patching a $469 million budget shortfall for 2009 late last year, the city is now scrambling to fill a projected further deficit of $250 million to $300 million.” (Wall Street Journal, Wednesday)
How about calling it “the city that taxes”? Chicagoans pay the highest sales tax rate in the nation.
FEE Timely Classic
“Raising Taxes Stifles Initiative Invisibly” by Richard W. Stevens