One of our favorite quotes about democrats in government:
- “We don’t have a trillion-dollar debt because we haven’t taxed enough; we have a trillion-dollar debt because we spend too much.” - Ronald Reagan.
- Nearly a third of property taxes now collected by City Hall go into 143 special taxing districts controlled by Mayor Rahm Emanuel and aldermen, according to a new report by Cook County Clerk David Orr.
Orr said a record-high $660 million poured into tax-increment financing funds last year, which was more than 31 percent of the $2.1 billion-plus that city government collected. The veteran clerk called the percentage “stunning.”
“This is a real pot of gold,” he said of the $660 million, noting that nearly half of it goes into TIF districts in more affluent city neighborhoods. “The fundamental question is: Are we spending it as wisely as we could, given that we really do have a tale of two cities here in Chicago, given massive wealth in some parts of the city and massive amounts of (poverty) in other parts?”
This improper allocation of tax money is probably the biggest scam running. Pensions are sicker than ever, retirees are being stripped of health care, but by golly, $660 million in 143 special TIF's for whatever Rahm want to dole out is right there for the taking.
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