Not only would a progressive income tax hike end up taking more money directly from all taxpayers’ pockets, but it would also have negative economic effects on jobs growth, after-tax income adjusted for cost of living, and overall economic output.View Report
Most business is mobile. Most of Illinois is close to another state. Add a progressive state income tax and watch businesses such as Piasa Motor Fuels cross the bridge to Missouri.
The Jeep Cherokee manufacturer plans to lay off nearly 1,400 workers at its Belvidere, Illinois, facility and invest $4.5 billion in a 6,500-job expansion in Michigan.
Pritzker’s first budget address exalted the graduated income tax as a solution to the state’s fiscal problems. Despite evidence to the contrary, the governor is urging state lawmakers to speedily advance the measure.
The owner of a growing book printing company faces a greater threat from out-of-state competitors thanks to lawmakers in his home state. Calls for a $15 minimum wage and progressive tax could hurt his workers and business in southern Illinois.
The Illinois House voted for a statewide $15 minimum wage – adding $1.1 billion to the state payroll, courtesy of Illinois taxpayers.
Every relationship comes with its sacrifices. But for an alarming number of Illinoisans, parting ways with Illinois is how they choose to get on with their lives.
Illinois’ fastest-growing jobs sector in 2018 was government – another sign the state needs pro-growth reforms to keep up with the rest of the country.
Outbound movers cited lack of jobs as most common reason for leaving Illinois in 2018. Most of those who left earned at least $100,000.
It’s the fifth year in a row Illinois has lost people. And the fifth year in a row that the loss has gotten worse. No other state finds itself adrift in five consecutive years of worsening population decline.
The Land of Lincoln is losing 313 residents per day to other states.