Not for the kids: Half of Chicago Public Schools tax hike to go to pensions

Here's a tax hike that's not "for the kids."

Chicago, Cook County, Illinois and of course Chicago Public Schools need to declare bankruptcy or whatever law allows them to call it.

From the Chicago Sun-Times:

The Chicago Public Schools will raise city property taxes this year by $225 million, officials said Wednesday.

CPS's share of property taxes will total $2.929 billion in 2018 — up 8.3 percent from 2017’s $2.704 billion. The difference will cost the average homeowner another $177 a year. More than half the increase to taxpayers — $154 million — will go to teacher pensions.

Chicago is a place where people who don't have pensions fund the retirement plans of those who do.