undefined | Better HN

0 pointskeenmaster6y ago0 comments

The pension explanation doesn't make sense. Chicago would gladly offer tax breaks to any company opening a major HQ here, as it has in the past. It's had a streak of being business friendly.

I also don't get the "violence" explanation. Violence is terrible and everyone in Chicago wants to end it, but the average person is far removed from any shootings.

0 comments

3 comments · 1 top-level

whb076y ago· 2 in thread

Can't exactly guarantee offer tax breaks if they are short on tax revenue, and while every government federal/local is always short Chicago/Illinois is deathly short. The tax increases have already begun and there have been weird talks coming out of the Chicago mayor's office essentially asking for a tax on the rest of the state to help out Chicago proper.

keenmasterOP6y ago

If tax breaks attract a large company, Chicago still gets tax revenue from all their employees. Property tax revenue, income tax revenue, and consumption taxes all go up. This is especially true if that catalyzes further development across the local economy.

SilasX6y ago

All of that was true of Amazon's move to NYC, but the locals still balked at the "massive tax breaks" given to the company.

j / k navigate · click thread line to collapse