Most neighboring states are gaining residents from people moving across state lines. Even of the states losing people, Illinois is losing at a significantly faster rate.
The “millionaire tax” will increase Illinois’ tax burden without necessarily increasing public funds. Revenue intended for education may fall short of expectations and will likely be absorbed by school administration before reaching students.
Of the states most Americans are moving to, 4 of 5 have a flat or no income tax. The states losing the most residents? There again, 4 of 5 have progressive taxes. Illinois’ flat tax is an advantage it should keep.
A new report from the Tax Foundation shows the typical Illinois taxpayer will save big thanks to the constitutional protections of Illinois’ flat tax. Some state lawmakers want to take that protection away.
Illinois and other states with sanctuary cities saw large influxes of international migrants in recent years. But historical data shows the new arrivals may soon move out for the same reasons other residents have.
Chicago’s $1.15 billion projected budget gap is the latest in a decades-long string of structural deficits. Making Chicago’s high taxes worse is not the solution.