Saturday, January 26, 2008

Feeding the "Combine" - Part II

A follow-up to our recent post here regarding a proposed Chicago Transfer Tax increase. From the sounds of it the increase to $10.50 per $1,000 from $7.50 is a done deal with a city council vote set for February 6th. Hey I'm no economist, although I am a weekly reader of The Economist, but I never thought it was great to raise taxes heading into a recession.

I wonder why they don't consider doing something on the seller's side rather than adding to the buyer's burden. Chicago's in a distinct minority in taxing buyer's.

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