Op-ed by Richard Porter, includes “The city of Chicago is an entity akin to a corporation that is distinct from Chicago the geographic place and the people who live there. The city’s debts are solely obligations of that entity, and are not direct personal debts of the people. So, while the city attempts to pass the burden of its debts to residents through taxes, residents can choose to stay and pay or leave — and thereby leave their share of the burden behind for others to bear. … Chicago is in a hole that tax hikes only deepen; the only way out of Chicago’s death spiral is debt reduction.”