Are you better off now then you were 50 years ago, all you "Little Guys"?
That's a fair question to ask in Chicago, considering this second or third city has had the reputation of being "the city that works".
It turns out that those who do work, pay dearly for it, especially if you are in the lower income brackets. You are Warren Buffet's secretary, all of youse little guys.
For decades now, the Democrat Machine has been telling the "folks" as they like to warmly and snidely call us, that our ship has come in because Democrats caring about us and our little guy families.
Marketwatch put together one of those slide show presentations, which high light the cities with the highest taxes, and who pays what. You think it is expensive to live in LA? You're right. Think NYC is a tax black hole? Right again, but not compared to Chicago if you are an ad-min somewhere. Take a look at Chicago, especially if you are in a rush to get to your first job and worried about the snow today keeping you from getting to your second job on time.
For those who do not have time to click the link, I have included that data from Marketwatch below.
Oh, such a pretty city, on the north end of Michigan Avenue, but the south end of Michigan Avenue, in Roseland, is "mag mile" only in the sense of magazine clips from weapons. Who has paid for the wrought iron and pretty flowers up north? You have, little guys.
Why do you keep robbing yourself blind by blindly voting the same thieves in over and over? Because myths are fun and tell good yarns, but real myths do not always have happy endings. This is one without that happy ending. Especially for the little guys.
Taxes for family earning $25,000: $3,898 (4th highest)
Taxes for family earning $150,000: $14,814 (14th highest)
Unemployment rate: 9.7% (12th highest)
As of 2011, Chicago residents paid the highest effective sales tax rate of any city studied, at 9.75%. This increased the tax burden for lower-income earners, who paid a higher percentage of their income in sales taxes. Partly because of the city’s sales tax, a Chicago family earning $25,000 had a state and local tax burden equal to 15.6% of their income, while for a family earning $150,000, the figure was just 9.9%. Poorer residents are also burdened by the state-level flat income tax, which was raised from 3% to 5% in 2011.
Of course, it is all done "for the children", if your children go to private schools.
Do you buy it?