True to form for a Socialist Progressive, new Chicago Mayor Brandon Johnson has vowed (during his swearing-in ceremony, no less) to make the financial lives of “The Rich” and Big Biz miserable since Chicago is in desperate straights in the Treasury area.
“Chicago’s New Woke Mayor Is Signed In and Vows to Tax the Rich and Big Business to Pay for Progressive Agenda – As Major Firms Vow to Pull Out of City”
Translation: your money already belongs to me – you just haven’t realized it yet. It doesn’t matter that Illinois, especially in Cook County where Chicago is located, is already hemorrhaging such people and companies who are tired of paying in and not getting the value that should be coming with those high taxes. You’d think, with all of the bad press that Chicago has received the last few years with climbing taxes, the street crime, and the gang warfare ending up in gun battles that rival entire small countries every weekend, Johnson would be spending some time trying to salvage Chicago’s reputation.
Yeah, I know, bringing a chicken to a dentist to have wisdom teeth extracted. But, by golly, Johnson’s looking to use that “extract” word one way or another (reformatted, emphasis mine):
Companies are already vowing to leave Chicago over additional taxes promised by its new mayor – a progressive newcomer tasked with addressing the city’s dwindling image under predecessor Lori Lightfoot. Appearing on a podcast Sunday, the chief executive of the country’s foremost financial derivatives exchange, Terry Duffy, voiced his distaste over additional taxes planned by the ex union organizer, whose upset win was endorsed by Bernie Sanders. Intended to dig the city out of its current financial hole, the increases are aimed at high earners and companies headquartered in the Windy City – whom, as CME is already proving, are likely to put up a political fight.
While Johnson may have won the infamous election vote, like most Progressives, hasn’t learned that votes are also cast by feet moving out of the jurisdiction. Has he not learned from economically illiterate progressives in Chicago, California, and New York, where if you have a high net worth, the government sees you as a piggy bank; while demonizing you for “stealing from the poor.” Those folks are voting with their feet and taking their piggy bank with them.
Killing the goose that lays the Golden Egg(s) in real-time for all of us to see.
Speaking to the Odd Lots podcast about 24 hours before the ceremony that will see the former Chicago schoolteacher succeed his similarly aligned predecessor, Duffy made it clear his firm is willing to join several businesses like Tyson, Caterpillar, and Boeing in relocating, if Johnson does not heed his and others’ warnings.
Unfortunately, the article then goes more into the crime disaster that Chicago has brought upon itself and not further into the financials. However, reports from Fox32 and Chicago Business push numbers from $800 million to $12 Billion. And Progressives wonder why this phrase is standard:
Taxation is Theft
Especially at this magnitude simply because corruption-ridden, machine politics-driven, and hack-o-rama livin’ Chicago can’t live within its peoples’ (and companies’) means. No wonder it is going to hold the next Democrat National Convention!
HT | The Daily Mail