Wow. Here is something to be proud of…Chicago will now to be known for, having the highest
total sales taxes of any major U.S. city. Congratulations! That should really help the retail industry and tourism!
The Cook County Board voted
Saturday to double the county sales tax to 1.75%. When added to
the city’s sales tax, the county’ increase has the cumulative effect of
setting a 10.25% sales tax on goods bought in Chicago.
In layman’s terms that means when the county rate increase takes effect in November, someone buying $100 worth of merchandise in Chicago will pay $110.25.
Conversely, the sales tax rates in New York and Los Angeles are below 8.5%. The
next highest rate in the country is in Memphis, Tenn., at 9.25 percent.
Not that anyone has ever accused Chicago of being corrupt before (ahem), the tax increase is expected to add about $426 million annually
to county coffers. The money is meant to close a projected $234
million deficit (um, how did that happen in the first place?). The budget is also designed to create more than 1,000
new county jobs.
“By passing this budget, the board has breathed life into this
county government,” Board President Todd Stroger said. The budget
passed on a 10-7 vote. Those who opposed the increase say reform, not revenue, should have been priority No. 1.
This makes a great case to a) elect a new county board president (preferably one that doesn’t suck); b) shop anywhere but Chicago; and c) push for some tax-free shopping weekends like they have in New York!
“The real elephant in the room is the waste and bloat and
bureaucracy here in the county.” said Timothy Schneider, a county
He said a mouthful!
Sources: The Chicago Tribune & Guardian.uk.comSee the Top Ten Summer 2016 Trends for Women Over 40
Tags: Todd Stroger