Not a Dime
- Mayor Rahm Emanuel is reassuring Chicago taxpayers that they won’t be stuck with the bill for all the activity, security and disruptions that will occur around the NATO Summit the weekend of May 19.
[...] But Mayor Emanuel says Chicagoans will not be footing the bill directly for the summit.
“First of all, taxpayers will not pay anything for the summit, and that’s why we raised private money and I secured federal money – so that’s number one,” Emanuel said. “And yes, I do feel like we’re going to be able to meet our budget.”
As an astute reader pointed out, the feds don't just print money to pay for these things. And we certainly recall having sent in a tax return this year, so if there's federal money involved, we've already paid for it somewhere down the line.
This is funny though - an actual person with an economics background says the city isn't going to make diddly squat:
University of Chicago economist Allen Sanderson says the actual economic benefits often turn out to be about 10 percent of what the boosters predict.
“Look, anytime an organization conducts an economic impact study, there is a weak link quality to it; you’re going to produce a report that’s very favorable to whatever activity you want to do,” Sanderson said.
In this case, Sanderson says NATO would bring at the most a $25 million economic benefit, and far less than that if things get out of hand.
An economist from the University of Chicago? That department has won something like 8 or 10 Nobel Prizes over the years. In fact, at one point the Nobel people were just going retire the award to the U of C and stop giving it out since everyone knew where it was headed year after year.
Labels: money questions
posted by SCC at 12:03 AM
24 Comments:
Liar, liar, pants on fire!
Is Rahm's nose growing or is he just happy to see me?
Did the city ever get paid for Obama night four years ago?
"[...] But Mayor Emanuel says Chicagoans will not be footing the bill directly for the summit.
“First of all, taxpayers will not pay anything for the summit, and that’s why we raised private money and I secured federal money"
Not DIRECTLY, but footing the bill nonetheless. We all pay federal taxes, don't we?
Have the damn thing in some other NATO country...somewhere not so tolerant of protesters.
wrt: "{...] But Mayor Emanuel says Chicagoans will not be footing the bill directly for the summit."
^^^^^^^^
^^^^^^^^
Don't you see that key weasel word right up there?
How about indirectly?
Are Chicagoan's going to foot the bill indirectly?
Not a dime also, So maybe the bill will be rounded to the nearest quarter so he's right...there will be no dimes involved. Heh, most of you/us know the game.
I got news for ya. We've ALREADY footed at least a portion of the summit bill.
The money went from the peoples FICA payroll tax 2% reduction (social security tax) stimulus money, to the Illinois State Income Tax increase of 2%. Then it went from the State of Illinois to the corporations like the CME group, Sears, Motorola, and more as corporate tax breaks.
Now those same corporations that have been given the taxpayer welfare -- that was taken from our social security retirement money to create jobs -- are spending the money on a NATO party instead.
Meanwhile the media points out that Social Security is now going to go bust much sooner than expected.
Gee what a surprise!!
Oh and Caterpillar downstate in Peoria has 870 machinist on strike as of last night over wages and healthcare.
Why doesn't Caterpillar have the money to give the union workers a cost of living increase?
Oh I don't know maybe the money was spent on NATO donations eh. So indirectly not just Chicago taxpayers are paying for the summit the IAM workers in Peoria are. Except even though it's not called a tax increase the money is coming from the same place, the taxpayers.
Let's stop with the smoke and mirrors and this money in this pocket is not fungible with that money in that pocket krap. K?
BTW We wonder how that rent-a-bike operation investigation is going anyone see any updates?
So 128 million into the city, I guess some diplomat/distance runner from Kenya will stop by my house with my $43.00 bonus money.
Why is Rahm getting such a beating on this blog? Some of his first acts as Mayor, was to announce he would not take a pension, like Daley and the "aldercdeatures."work with community groups and organizations. .And no other Mayor created jobs, according to you and others, Daley ran jobs away with constant taxation and more, so what is the beef with Rahm? It seems you citizens of Chicago only are happy when a real shyster is at the helm.
A happy I voted for Rahm citizen (5 stars straight across)
Who are you gonna believe Rahm or a U. of C. Economist?
Hmmm let me think about that. Rahm wouldn't bullshit us would he?
How many times did Shanks tell us things wouldn't cost the taxpayers and then we'd wind up getting fleeced as usual.?
WHO WILL PAY FOR THE PARKING METERS DURING NATO?
Remember that sweetheart deal with the parking meters? If the City closes any street they still pay for the meters on these blocks. But that's OK don't forget the economic benefit from NATO that is coming.
Want to buy a bridge? Oh shit we already sold the Sky-Way, just forget it.
When all is said and done after this Clusterfuck the citizens of this city should be outraged that we let the Racoon bring this mess into our town. If you had a chance to view the last summit in Seattle that is what is coming here. If the 5 assholes who were arrested by the FBI in Cleveland is any indication of the caliber of Thugs coming to town we are in deep shit. Please believe the Mayor and his minions have hundreds of excuses of why things went South and will take no blame for anything. You can't insult this fucking jagoff. He feels he doesn't have to answer to anyone. Only HE knows what is best for us.
Rahm said that Chicagoans "will not be footing the bill directly."
Chicagoans will not get a bill in the mail. But they will pay for the function through higher taxes, higher fines, and cuts in services.
Just look at the financial results of any Olympics after 1984. All were money losers. Over budget every time, contracts handed out to everyone and afterwards the host city is stuck with some unuseable buildings. Not much use for a velodrome is there. We will pay. For sure.
The UofC guy isn't refuting Rahm directly, Rahm didn't say anything about the economic benefits, that's all coming out the Healey.
Ya ya U of C is great..... Obama use to teach there.....
Anonymous said...
Why is Rahm getting such a beating on this blog? Some of his first acts as Mayor, was to announce he would not take a pension, like Daley and the "aldercdeatures."work with community groups and organizations. .And no other Mayor created jobs, according to you and others, Daley ran jobs away with constant taxation and more, so what is the beef with Rahm? It seems you citizens of Chicago only are happy when a real shyster is at the helm.
A happy I voted for Rahm citizen (5 stars straight across)
5/02/2012 02:39:00 AM
Daley called it taxes while Rahm calls it "fees". Same thing. Wait until the new speed camera tickets start hitting everyone. Water Fees(taxes) city sticker fees(taxes) Even bottles of water and soda cost more with taxes. Democracts believe in equal distribution of wealth on the backs of the middle calss. His next target are the labor unionsstarting with the teacher union. I guess he did earn 5 stars.
That's what I thought people in CHICAGO must not pay those FEDERAL taxes they are SUCKING out of the ECONOMY.. Just how dumb does RAHM think the citizens are??
"Not a Dime" that's exactly what we can expect from our new contract
OT; everyone keeps mentioning how hard it's going to be to hear our radios during the upcoming nato summit....well let me put those fears to rest. You will not have any radios when downtow. They will all be in the district. Plus they dont want a bunch of people yelling on them when shit hits the fan. Soo no radios, biut dont worry the experienced white shirts will have them or so they told our tact team at training......let the hairgel comments commense from the all knowing old timers
For the civilian poster who thinks the Racoon is such a great guy...The reason the Racoon doesn't take a pension is #1 he doesn't plan to be here that long. He has much higher aspirations. This thief is worth more than $20 million. He stole plenty when he was at Fannie Mae in Washington. He is an insider and knows very well where to put his stolen cash to make even more. As for creating jobs this city is on the decline big time. It has been for years. See Detroit today...Chicago in 10 years or less. Politicians have fucked every dime they can out of the system. When the final taxpayer leaves this city, county, and state there will be nothing left to steal. Then all of the fat cat politicians and connected contractors can retire and enjoy their booty. The Racoon is no different than the Daleys, Madigans, Cullertons, and the rest of their ilk. He is just smarter and more cunning than the rest. Chicago is just a stepping stone for this egotistical little prick to go on to Washington and take whatever is left after Democrats get done with it. Will the last tax payer please turn off the lights when they leave. Oh..forget it. The light bill was never paid.
first of all Mayor we pay federal taxes too ya bullshitting moron
Freakonomics came from UofC, Milton Friedman taught there as well as Alan Greenspan. I'm w/U SCC. The place has a reputation for being involved w/cutting edge Economics!
if the city gets destroyed nato should pay for it..
"Why is Rahm getting such a beating on this blog? Some of his first acts as Mayor, was to announce he would not take a pension, like Daley and the "aldercdeatures."work with community groups and organizations. .And no other Mayor created jobs, according to you and others, Daley ran jobs away with constant taxation and more, so what is the beef with Rahm? It seems you citizens of Chicago only are happy when a real shyster is at the helm."
Rahm goes where the money is. You want to know why Rahm won't take a pension? You need to ask yourself
a more important question. How can Rahm afford NOT to take a pension. Google "How Rahm Emannuel Got Rich" and enlighten yourself so you don't look so foolish.
Not a dime huh? Just on over time you will owe me at least a grand. If I get hurt, it will cost ya extra ten grand. If I go on iod, it will cost you some more. Stop the lies, illinois tax payers are going to get stuck with the bill. Thanks to your ignorance and arrogance we all lose. Vote rahm out.
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