Tax Base Shrinking

Someone discovered a 2022 video of the McDonald's CEO saying he couldn't get execs to agree to move to Chicago because of crime concerns. Here's the article:

• In a recently unearthed 2022 video, McDonald’s CEO Chris Kempczinski warned Chicago business leaders about the city’s escalating crime crisis, calling it “increasingly difficult” to operate globally from there. In a viral clip, he noted executives’ reluctance to relocate to Chicago, emphasizing the company’s commitment is not “open-ended” or “unconditional” due to shareholder obligations.

  In the same clip, posted to social media, journalists highlighted it as a “stark warning,” suggesting the headquarters might leave after decades. Conservatives on social media blasted the woke city, pointing to the reality of societal decay from deficits, homelessness, violence, and fraud.

  In any case, the clip of the CEO began with a journalist introducing the leader of the fast-food giant’s comments. “The CEO of McDonald’s is making a stunning revelation to other corporate CEOs: Chicago, crime is making it very hard to do business,” a reporter noted.

Here's a link to the video.

For those keeping track, Chicago lost another three of the Fortune 500 Corporate HQs in the intervening three years, dropping Chicago down to only twenty-five of the top companies.

If you really really want to get into the weeds, check out this article from Illinois Policy showing job growth hasn't just ground to a halt in Illinois, it's shrinking:

• Chicago businesses reported the lowest recorded employment score since May 2009, according to the Chicago Business Barometer.

  For the second consecutive month, no survey respondents reported increased employment.

  The analysis gave Chicago an overall score of 43.5 in December 2025, the 25th consecutive month of decline. A score below 50 indicates decline.

Not a single Illinois company reported employment growth for the second consecutive month and the state-wide unemployment rate climbed from 4.1% to 4.5% (nationally it's 4.3%). The only growth sector was :::surprise!!!::: in government, meaning more taxes from a shrinking tax base. That is NOT a good model.