Part 8/9:
The idea of taxing businesses and digital advertisers to cover budget deficits may seem like a quick fix but has far-reaching consequences. History in cities like Seattle shows that such policies can lead to economic decline, increased unemployment, and reduced city revenue over the long term, as companies and residents seek friendlier environments.
Chicago faces a complex challenge. It must balance fiscal responsibility with economic growth, all while managing high existing taxes and social commitments. As Mayor Johnson explores these contentious options, the city’s future depends on whether it can find sustainable solutions that do not drive away the very businesses that generate the tax revenue needed to fund public services.