THIS IS A CLASSIC EXAMPLE of how local/city/county/state and yes/ federal officials see their budgets.
If there is a shorfall, raise the revenue.
Can the average family to that?? Can the worker walk into their employers office and raise their income to pay for the increase in their mortgage payment??
No indeed. They would reduce their family expenses to cover the higher mortgage payment or tax payment . . . . .
It's time for local/city/county/state and yes, federal officials to do the same.
Read Dean's post about this matter in Chicago.
In these tough times economically, cities and counties across the U.S. are searching for new ways to bridge revenue gaps that often run into the millions of dollars.
And how do County Officials and Mayors across the country deal with the revenue shortfall?
Likely, you guessed it right away! Typically . . . THEY INCREASE TAXES IN THEIR JURISDICTIONS!
That happened in Cook County IL - the county that includes the City of Chicago. Last year, the Cook County Board of Commissioners voted overwhelmingly to increase the Cook County General Sales Tax to as high as 10.25% within Chicago. That's the highest stipend of any big city across the country.
County officials predicted complacent acceptance. Resignation. No drop off in tax revenues - in fact, a hoped for revenue INCREASE, county wide.
But they didn't get that!
Instead, there was talk of the perimeter suburbs of Chicago of seceding from Cook County. Or, in this tough economy, seeking out merchants just over the Cook County line, in neighboring Indiana or Wisconsin, or buying more over the Internet, in hopes of minimizing our already-high sales tax bite.
And this week, 12 of the 17 members of the Cook County Board apparently had enough. As reported by Dan P. Blake in The Chicago Tribune, the commissioners voted to scale back the June, 2008 10.25% tax enactment to 9.75%.
The matter is not settled, however!
Embattled Cook County Board President Todd Stroger, already under a county wide microscope for alleged inappropriate hiring and wasteful spending, promises to veto the tax rollback. According to County Law, he has six days to do so - and likely will!
And although Cook County Statutes make it difficult for the Board to overturn President Stroger's veto - Board Rules call for an 80% approval to overturn a Board President veto - a preliminary count indicates the board will have the needed 14 of 17 votes required to get the tax brought down.
Stroger supporters fear Cook County could lose up to $140 Million in revenue if the Cook County Sales Tax is reduced from current levels. Cook County Health Department spokespeople predict $85 Million in cuts if the tax is dropped.
But most agree the current county budget does contain some "fat" needing to be trimmed - and all will be well if the Cook County Sales Tax is rolled back.
And President Stroger has another looming problem. The President is expected to face several pro-lower-tax Democratic challengers when he runs for re-election in 2010.
See our post this evening via BlogChicagoHomes.com.
DEAN & DEAN'S TEAM CHICAGO