Chicago Looks to Take What Oregon’s Giving Away...

Ironically enough, in the wake of Oregon’s voters hiking that state’s top personal income tax rate by 22.5% (from 9% to 11%) and its corporate tax rate over 19% (from 6.6% to 7.9%), Chicago’s Democratic Mayor (Richard Daley) noted that Oregon’s mistake “will help our economic development immediately,” adding, “We’ll be out in Oregon enticing corporations to relocate to Chicago.”

Of course, despite the fact that Illinois’ top marginal income tax rate is a mere 3% (1/3 of Oregon’s original top tax rate), Mayor Daley’s city is burdened with sky-high property taxes and a very high (10.25%) sales tax.

Richard Daley is right in saying, “What happened in Oregon is not good news for Oregon. They believe that anybody who makes $125,000 or more [annually] or businesses or anyone who makes $250,000 — they’re gonna start taxing them. They call them ‘rich people,’ ” the mayor said.

“I’ve always thought America stands for [rewarding success]. You finish high school. You work hard, go to college and you hope to succeed in life. I never knew it’s a class war—that those who succeed in life are the ones that have to bear all the burden. I never realized that. It will be a whole change in America that those who succeed and work hard [that] we’re gonna tax ‘em more than anyone else.”

Chicago’s Mayor finished with, “It will help our economic development immediately. You’d better believe it. We’ll be out in Oregon enticing corporations to relocate to Chicago. I’ll be very frank. I make no bones about that. If those states want to do that, so be it,” he said.

SEE: http://www.suntimes.com/news/cityhall/2017137,mayor-daley-trade-shows-012810.article

Daley’s stance shows that even many hardcore, mainstream Democrats eschew the Obama administration’s flirtation with Carteresque Keynesianism.