Rumor has it that in professional basketball, Miami is likely to get free agent stars LeBron James, Dwayne Wade, and Chris Bosh. And Chicago, which (as in the Olympics sweepstakes) had been dubbed the front runner, will be left holding the bag. What has Miami got that Chicago doesn’t?
Well, besides year-round livable weather, it has lower taxes–much lower. Chicago’s Cook County has the highest tax rate in the nation. Florida has no state income tax, and when you’re making tens of millions in income, that adds up pretty fast.
Chicago fans might be inclined to blame team management or the players themselves for this disappointment. But the fact is, the decision may have been simply a matter of dollars and sense.