A recent Gallup poll found residents in states with higher tax burdens are more likely to want to move. Illinoisans are the third-most-likely to say they would prefer to move permanently to another state.
Instead of spending reform and policies to promote economic growth, Illinois House Speaker Mike Madigan proposes the same high-taxing, big-spending plans that got Illinois into its current fiscal mess.
Illinoisans handed over a larger portion of their earnings to state and local governments than did taxpayers in 45 lower-tax states in fiscal year 2012, according to a new Tax Foundation study.
Property taxes are the single largest tax in Illinois, burdening residents far more than either income or sales taxes. Illinoisans already know they pay high property taxes. But what is not as well known is that property taxes are outpacing residents’ ability to pay for them. Over the past 50 years, whether measured in comparison...
Chicagoans are the most-taxed residents of any major city in Illinois and pay the 10th-highest property taxes compared to taxpayers in other large U.S. cities.
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...