Over 3,000 millionaires have fled Chicago in recent months.
This is the largest outflow of wealthy people from any US city right now. It’s also one of the largest outflows of wealthy people in the world.
But it’s not just millionaires… Every five minutes someone leaves Illinois.
In a recent poll, 47% of people in Illinois said they want to leave the state. Over the last decade, more than half a million people have done just that.
This is the largest outflow of people from any state in the country.
The people who leave are generally better educated, more skilled, and earn more money than those who stay. Entire towns of affluent Illinois refugees have sprouted up in Florida, Arizona, and other states.
Illinois is bleeding productive people.
This is a major warning sign.
Wealthy people are often the first to leave a bad situation. They have the means to simply get up and go. And when they do, they take their money and their businesses with them.
This hurts the local property market and the rest of the local economy.
Many of Illinois’ millionaires own businesses that employ large numbers of people. As they leave, there are fewer people and businesses left to shoulder the state’s enormous and growing financial burdens.
Many of these people are leaving for one simple reason: rising taxes.
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DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
11 comments:
First off....I'm old and I've seen a lot of of these types of things. Once called "white flight" because of fear now it is called something easier to swallow. Whenever people of wealth (no matter what their color) are in a bad situation which seems to just be getting worse the natural reaction is to get out. I find it sadly comical that if you go on to read the whole article it suggests investing in gold to keep yourself solvent. If these people had money to invest in gold the whole conversation would be moot.
Sounds a lot like Salisbury..
This is a major warning sign? HA, electing the WRONG people is the warning sign here! Wrong people in charge = disaster.
Yeah 221, does sound ALOT like Salisbury!
Lest we forget. How did OweMalley's Millionaire Tax work out? They, and their income and investments, flew the coop in large numbers.
I'm sure Maryland as well as other liberal states won't be far behind. The problem is, they flee theses states and bring their own arrogant liberal ideas with them causing the same exact same problems they tried to flee from.
Liberalism at work, everything it touches turns to excretment.
A close friend of mine is who owns a small business in Salisbury has had enough. He is in negotiations as we speak on property in lower Del. He dropped two names on me. Cannon and Day.
It is not complicated. If liberals run a government long enough they will destroy everything involved and chase the people away.
You can't take from the productive and give to the non-productive for long.
Cook county Illinois has been run by dumbocrats for 60 years. Slowly, the population of Chicago and cook county has overtaken the whole rest of the state and turned it dumbocrat like a cancer that slowly spreads.
Margret Thatcher said: "The problem with socialism is that sooner or later you run out of other people's money."
I welcome the day when I see the Chicago inner city Gimmydats thrown off the welfare rolls after 4 generations of laziness and irresponsibility.
Hey democrats, Fair question. Where have any of you policies worked?
owemalley ran Beretta out of Md. and the jobs and taxes went with them. Hello Tn.
nice post
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