Chicago successfully taxes streaming services

Post by prepend » Sat, May 18, 2019, 6:24 PM UTC

gfodor wrote: post #16

Shivetya wrote: post #14

Chicago is in the hole for nearly thirty billion dollars. They have been floating the idea of a ten billion dollar bond with the debt structured in a way which lets current politicians escape the fallout from its payment and not having to raise property taxes. The state of Illinois is not well off either with debts estimated at the low of one hundred thirty billion to two hundred fifty billion. An Illinois proposal j…

Pulling or cutting the pensions of retired public service workers (many of whom who risked their lives to protect the public) would, beyond the ethical questions, eliminate the credibility of the city's promises to those who sign up for such jobs and hence would likely greatly reduce the quantity and quality of recruits.

Post by dusbajd » Sat, May 18, 2019, 6:26 PM UTC

lotsofpulp wrote: post #36

rrrrreeeee wrote: post #31

Earlier quoted context omitted.

Do the employees and employers not pay into a separate fund that cannot be touched? I fail to see how it's the fault of the pensioners. It's absolutely archaic if the future taxpayers have to pay for a retirees pension. In Canada we have pension funds that are separately funded entities that are payed into over an employee's career.

How do you ensure the funds are invested properly, and not in a nephew's real estate development project? How do you ensure the correct assumptions are used in calculating how much to contribute into the fund in the first place? You can adjust mortality tables and investment return assumptions to make the benefits seem cheaper than they are. The government can even choose to forego making their understated contributi…

Post by chillacy » Sat, May 18, 2019, 6:28 PM UTC

dontbenebby wrote: post #8

I thought the main reason states collect tax on Amazon purchases is because they have a presence in a state (distribution centers, warehouses, etc)? I'm confused how the legal thinking goes that a company not based in Chicago, offering services on the internet, can be taxed. (They don't even ship DVDs to most customers, whereas Amazon was shipping physical goods)

Post by sseagull » Sat, May 18, 2019, 6:33 PM UTC

closeparen wrote: post #46

Shivetya wrote: post #14

Chicago is in the hole for nearly thirty billion dollars. They have been floating the idea of a ten billion dollar bond with the debt structured in a way which lets current politicians escape the fallout from its payment and not having to raise property taxes. The state of Illinois is not well off either with debts estimated at the low of one hundred thirty billion to two hundred fifty billion. An Illinois proposal j…

$75k income, increasing at 1% a year, saving 15% each year, investing at 7% average returns over a 40 year career would give you $101k in retirement. That doesn’t seem unreasonable.

Post by czbond » Sat, May 18, 2019, 6:37 PM UTC

echelon wrote: post #43

Shivetya wrote: post #14

Chicago is in the hole for nearly thirty billion dollars. They have been floating the idea of a ten billion dollar bond with the debt structured in a way which lets current politicians escape the fallout from its payment and not having to raise property taxes. The state of Illinois is not well off either with debts estimated at the low of one hundred thirty billion to two hundred fifty billion. An Illinois proposal j…

Could they raise more money by locally legalizing more "sins" and heavily taxing them? Something of a cross between Las Vegas and Colorado could pull in a lot of revenue.