Yesterday I wrote a post concerning the possible 30% property tax increase to be levied on Chicago home owners. It’s important to note that this potential $200 million in state-mustered revenue will bring about virtually no positive changes to the city’s abysmal financial situation. The hole is too deep. As The Chicago Tribune reported five years ago:
The total unfunded liabilities for pensions funded by city taxpayers, meanwhile, now hover around $20 billion.
$200 million down. $19.8 billion to go. No worries though. The Department of Finance has a plan. The city will apply a 9% tax to what are being called “electronically delivered amusements”. Don’t you just love the verbiage of official government documents? The electronically delivered amusements being taxed are streaming services like Netflix, Hulu and Spotify. The tax does solely apply to individual consumers enjoying Mad Men on Netflix. The tax rules were written broadly on purpose so businesses that have nothing to do with entertainment (like realtors and attorneys) can be taxed as well. This little scheme is scheduled to go into effect September 1st. They’re calling it the “cloud tax”. How cute. The cloud tax is expected to generate $12 million. $212 million down. $19,788,000,000 to go.
I predict that Crook County will eventually tax city dwellers every time they look or talk about actual clouds.