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10.25% Sales Tax!

Nice.

Starting July 1, a shopping trip to Chicago’s Magnificent Mile will cost more. That’s when the sales tax in the city hits an astronomical 10.25%, which may be the highest in the U.S.

Ridiculous.

Posted by Wendy at 1501 hrs
Culture

1. Wow, that’s pretty much insane, however, Illinois does have a lower income tax than WI, so they’re beating us there.

   Posted by Matt on March 27, 2008 at 1606 hrs
   
   
   

2. Just hold on…Lena Taylor will get us there if she’s elected. Then we’ll have high income taxes, high property taxes AND high sales taxes.

   Posted by .(JavaScript must be enabled to view this email address) on March 27, 2008 at 1620 hrs
   
   
   

3. Then I will be high tailing it to a nice no income tax state.

   Posted by Matt on March 27, 2008 at 1623 hrs
   
   
   

4. 10.25% is a liberal/Democrat wet dream.  The liberals must be salivating to see this and planing ways to get the sales tax this high.
   One guess, the income from the increased tax will mean less money in Chicago coffers and more money in the suburbs.

   Posted by .(JavaScript must be enabled to view this email address) on March 27, 2008 at 2110 hrs
   
   
   

5. This is just another form of rent and a reflection of the increasing cost of transportation and providing municipal services.

   For the high end retailers who are exclusive to Downtown Chicago and their customers it will not mean a great deal,

   Fortunately my wife already prefers Northbrook and Old Orchard so it shouldn’t be to bad for us.

   If this just recognizes the cost of providing the municipalities business without going into debt (bonding) then I would view it as a positive step.

   How many of you who go to Chicago regularly haven’t got an IPass? Yet no carping about that differentiation.

   Posted by .(JavaScript must be enabled to view this email address) on March 28, 2008 at 0109 hrs
   
   
   

6. pjr, you made my case about your lack of understanding economics.  Do you think that all the stores in Chicago are high end?  Even the stores in the Loop area, most are not high end stores.  You still have McDonalds, WalGreens, offices and various other low end stores.  You think this tax is going to help them?

   Posted by .(JavaScript must be enabled to view this email address) on March 28, 2008 at 0732 hrs
   
   
   

7. pjr, you made my case about your lack of understanding economics.  Do you think that all the stores in Chicago are high end?

   No Dan I know they are not all high end which is why I said,

   For the high end retailers who are exclusive to Downtown Chicago

   There are some retailers who do not have another outlet anywhere in the region and are unique to downtown. So you either hop on a plane or you don’t have access to them.

   Those are the ones I was citing.

   I am guessing that there is a price point that will encourage shoppers to absorb the additional cost of transportation to travel outside of Cook county for their purchases but I have no idea what that might be.

   Do you?

   Posted by .(JavaScript must be enabled to view this email address) on March 28, 2008 at 0947 hrs
   
   
   

8. PJR…sure, I can give you the price point.  It’s when the savings from going to a Chicago retailer to a retailer in a low tax venue is greater than the cost of the 10.25% tax.

   Or, you could just dial up Amazon.

   BTW, what does an ipass have to do with this moronic sales tax?

   Posted by The Asian Badger on March 28, 2008 at 0952 hrs
   
   
   

9. TAB,

   If you use the tollway to get to Chicago you have 2 choices in paying the toll.

   You use cash and pay about twice what an IPass user pays for driving right next to you. And you have to stop and pay the toll while they just keep cruising through.

   If you drive their often enough the benefits in getting an IPass become pretty obvious.

   I can give you the price point.  It’s when the savings from going to a Chicago retailer to a retailer in a low tax venue is greater than the cost of the 10.25% tax.

   That is not the price point, that is part of the calculation you would use to determine it.

   Would you for instance hop in your car and drive 20 miles round trip to save 30 cents on a $10 dollar purchase, 60 cents on a $20 dollar purchase? You get the drift right?

   I meant that I don’t know what the price point, as in specific dollar amount, would be.

   Do you?

   Posted by .(JavaScript must be enabled to view this email address) on March 28, 2008 at 1011 hrs
   
   
   

10. The best part is now other municipalities and cities will run their rates up to match because they tend to use the “we’re not as getting as much revenue as that city” as justification.

    Posted by Brian J. on March 28, 2008 at 1301 hrs
    
    
    

11. pjr, there is one other option and that is not to pay the toll at all.  Take Hwy 41, to go downtown for example.  So, yes, I agree, the ipass, toll can be useful in this argument and yes, if had the time, I would avoid the toll, when I lived down there.  You can pay a lot, some or none.  And many people shop that way.

    Posted by .(JavaScript must be enabled to view this email address) on March 28, 2008 at 1903 hrs
    
    
    

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