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Chicago’s new Mayor Brandon Johnson
is already bad for business

Original Article

Posted By: AltaD, 5/21/2023 8:49:53 AM

The Chicago Mercantile Exchange (CME) has been operating in the Loop since 1898, just 27 years after the Great Chicago Fire. (Snip) And the $66 billion CME may not be around to help with future renewal: The company has rewritten the terms of its lease so it can leave the city if politicians pursue “ill-conceived” public policy. “We’re in a very strong position,” CME CEO Terry Duffy said in a recent interview. “If we had to leave, we could leave.” Mayor Brandon Johnson was inaugurated May 15, becoming one of the most radical city leaders in the country. He’s proposed new taxes worth about $800 million, including a financial transactions tax

Comments:

Pritzker and the Springfield Dems say a transaction tax will never happen but it would be wise not to trust them.

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Reply 1 - Posted by: udanja99 5/21/2023 9:24:03 AM (No. 1474312)
This is my shocked face.
16 people like this.

Reply 2 - Posted by: NorthernDog 5/21/2023 9:32:06 AM (No. 1474318)
Eventually most financial service operations will end up in a state with no income tax - TX, FL, or maybe TN. Hopefully they'll leave behind any affection for the Democrat party.
16 people like this.

Reply 3 - Posted by: PChristopher 5/21/2023 9:33:19 AM (No. 1474320)
When you keep supporting and voting for these termites, don't act surprised when they give you the middle finger and do just what they said they wouldn't. There are no pretty or gentlemanly ways out of this mess.
18 people like this.

Reply 4 - Posted by: Jesuslover54 5/21/2023 9:33:20 AM (No. 1474321)
Head 'em, move 'em out!
8 people like this.

Reply 5 - Posted by: chance_232 5/21/2023 10:13:13 AM (No. 1474350)
The problem is, that when your pensions can't be funded a $1 transaction fee sounds entirely reasonable. I mean, only Scrooge or a republican would be against something so small. Its just a dollar. Because leftists are genetically incapable of doing math, the bumper sticker slogans practically write themselves. Which brings up another problem that corporate America brought on itself. Almost without exception, every major corporation has gotten onboard with every liberal fetish and have funded democrat election campaigns. And without exception, those same corporations appeal to Republicans to save them from the worst of the liberal policies. This gets to be a more and more difficult task when you've assisted and paid for single or near single party control. DeSantis was the first elected Republican that I ever heard tell corporate America to pound sand. You got the government that you paid for, don't come to use to bail you out of the consequences. Not until you reverse course and stop playing footsie with the democrats.
15 people like this.

Reply 6 - Posted by: DVC 5/21/2023 11:25:21 AM (No. 1474419)
The big Dem cities will have no populations of people beyond those on government handouts after these destructive idiots "work their magic" for a while. Companies, businesses, stores, taxpayers will be leaving slowly at first, then faster and faster. Or is that fester and fester?
11 people like this.

Reply 7 - Posted by: Starboard_side 5/21/2023 12:58:57 PM (No. 1474495)
First the new mayor said $1 or $2 dollars per transaction, so bet on $2, then it will soon be $3, 4 and 5 when it's still not enough. FTA: Eroding that confidence are government pension liabilities. Chicago’s major pension systems are owed $48 billion in unfunded pension liabilities – more than 44 US states. Statewide systems owe $140 billion, though independent estimates put the debt far higher. They could tax 100% of everyone's money and it will still not be enough, and suspect they'd be asking for more.
6 people like this.

Reply 8 - Posted by: bighambone 5/21/2023 2:14:29 PM (No. 1474541)
Chances are the “community” that elected Johnson does not have a clue as to the effect his radical socialist oriented policies could have on business, ask them and they will reply “business, what’s that?”. From the looks of it, their only concern is that the “free” money that the liberal Democrats at all levels of government send them to buy their votes in the next election keep coming.
5 people like this.

Reply 9 - Posted by: mc squared 5/21/2023 2:32:05 PM (No. 1474549)
People who are dependent and don't pay taxes will vote to take money from people who do.
6 people like this.

Reply 10 - Posted by: Safari Man 5/21/2023 2:49:32 PM (No. 1474558)
The CME should just leave leave anyway. Get ahead of the game before the inevitable puts them behind the 8-ball. Miami seems to be the place to go.
3 people like this.

Reply 11 - Posted by: Omen55 5/21/2023 3:39:50 PM (No. 1474586)
Once the CME leaves that will be the big signal that it's too late & everyone will follow. The mayor will then scream racism!
3 people like this.

Reply 12 - Posted by: msjena 5/21/2023 4:08:03 PM (No. 1474599)
Most of Brandon's proposed new taxes are non-starters.
1 person likes this.

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