Chicago to double property taxes

REALLY? And why? Because pension funds are running low. Pension funds for police and firemen, who retire now at the age 50. While they are raising the age of retirement to 55, to fund these pensions at 90% will require Chicago property owners to double their taxes. Of course, if you don't own property, you're in good shape. Even Mayor Daley is against it. Here's the quote from the Chicago Sun Times:

To place the entire burden on Chicago property owners -- and mandate the largest property tax increase in the city's history -- would paralyze home sales, the mayor said.

"From today on, you won't be able to sell your house. . . . These taxes are gonna go up by 100 percent or more,' " Daley said.