The Story I Read Today That Explained the Most About Things | Bleader

The Story I Read Today That Explained the Most About Things

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I wasn't really expecting that to be a missive from a Chicagoland Chamber of Commerce meeting, but:

Mayor Richard M. Daley was loudly applauded by business leaders today when he suggested that government payrolls, including the city’s, should shrink.

Well, cratering tax revenues are kind of forcing our hand on that.

“You cannot allow local, county, state and federal government to have more employees than the private sector,” the mayor told members of the Chicagoland Chamber of Commerce. “If that takes place in America, you’ll be paying twice as many taxes as you ever had before.”

Click through to see what Mihalopoulos does with the fact-checking; it's pretty ace. But here's what killed me:

Daley’s speech also highlighted how his administration has spent $1.5 billion in tax-increment financing, or TIF, subsidies to help business.

In short, Mayor Daley was garnering applause from business leaders about the need to reduce taxes and government spending while bragging about how much of our taxes and government spending go to direct private sector subsidy. None of which is at all surprising, but it's rarely so explicit as this.

How does it look at street level? Like this.

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