I don't like taxes any more than anyone else. I certainly am not here to defend the people in government who have brought Illinois to the precarious financial situation that it's in. I do think, though, that people who complain should have their facts in order before doing so.
One of the most frequent complaints I hear is about the income tax rate. Some say they are going to move because of it. I wonder where they might go. At least 25 of the 50 states have a tax rate higher than Illinois. Indiana, who seems to like to court Illinois citizens, has a rate of 3.4 percent. Iowa, with the same mentality, has a rate of 8.98 percent for those earning $63,315 or more. Michigan has a rate of 4.3 percent.
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So when you leave Illinois because of the income taxes, I wonder where you will go. Alaska, Florida, Nevada, South Dakota, Texas, Washington or Wyoming are your choices. Many states have an income tax only on earnings over a specific amount. Arizona, for example, has rate of 4.54 for earnings over $150,000. There are 34 states with this type of an arrangement.
Oh, but this is income distribution, some might say. I know many people who would be happy to achieve the income level where they would have to pay income taxes if they lived in Arizona. A better plan than moving might be to start paying attention to what's going on. Do what little you can to bring about change in government. A good start would be to get out and vote.
Elk Grove Village