The Land of Lincoln lost almost 84,000 residents and over $6.5 billion in taxable income to the seven states without an income tax while Illinois’ 2011 income tax hike was in effect.
Illinois’ tax code stands in the way of the state’s economic competitiveness. The combination of high tax burdens and a poor tax structure contributes to the loss of jobs and investment to other states. From a place of former economic dominance, Illinois now ranks 45th in gross state product (GSP) growth over the past decade...