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Tuesday, August 13, 2019

Illinois' Shrinking Tax Base: Residents Are Leaving & Taking Their Incomes With Them

There’s perhaps no indicator more damning of a state’s failure to govern than the flight of its residents to other states.

People of every stripe are leaving Illinois. Old and young, rich and poor. They are going to warm states and cold states, big states and small states. Overall, Illinois netted losses of residents to 43 other states in 2016.

That has major implications for the state and the Illinoisans who remain. A shrinking population means a future with less economic growth, less investment, falling real estate values and an eroded tax base. And as people leave, fewer residents will be left to pay down the state’s growing debts, meaning the already massive burden will only gets worse.

Illinois has netted a loss of 1.5 million people to other states since 2000, based on U.S. Census data. And as international immigration and births in Illinois have declined in recent years, they’re failing to make up for Illinois net outmigration. As a result, the state’s population has shrunk five years in a row. Wirepoints analysed the results of the census data in our report: Illinois’ Demographic

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7 comments:

Anonymous said...

Maybe one day you clowns will decide to put favts before political ideology. The Boomers are retiring and headed south out of tbe snow and cold. The new age of manufacturing has diversified the geographic centers for jobs in this sector. Has nothing to do with state policy besides perhaps taxes but IL is NEVER going to compete woth FL to keep its boomer population in place.

Anonymous said...

Northwest Woodsman: Rampant black crime and corruption are most likely components of the evacuation in progress. That combined with weather, taxes, loss of manufacturing and the cost of living in that vile place all contribute.

Anonymous said...

Woodsman comes with another clown comment. Plenty of evidence describing the drivers of movement yet he simply throws whatever flight of fancy he has on him mind out there.

Anonymous said...

I wonder what Maryland's losses are ?

Anonymous said...

Well, I'll tell ya, Mr Policy Expert. My brother just moved from IL to Alabama. Property taxes in IL: 5600. Alabama: (similar house) 500. Their pension funds are billions in the red, and they can't tax their way out. Yet just make up your facts too, like you accuse woodsman of doing.

Anonymous said...

You should learn to read and comprehend. I specifically called out the tax component. Problem with you and this article is that you actually think a more densely populated and historically more wealthy state is supposed to compete with a crap hole like AL or MS when it comes to lower taxes.

Anonymous said...

Just because ideas where intorduced that you are ognorant of, doesnt mean they are made up facts.