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* We’ll start this budget post with a silly demand by the Civic Federation of Chicago…
[The Civic Federation] says Illinois must cap and reduce spending, and the income tax should not be raised at all unless it would go only to reduce pension and retirement health-care liabilities and not to new programs.
What? How about the programs that are underfunded now? The Civic Federation is OK with continuing to delay paying Medicaid bills, which are now finally being addressed?
Quinn is speeding up payment of overdue bills so the state can qualify for more federal money.
Illinois has fallen far behind in paying its bills, particularly to the hospitals, nursing homes and pharmacies that care for the poor. They sometimes have to wait 150 days to be paid.
Local governments and school districts are having to cut way back. The State Police are being forced to abandon a headquarters building because of lack of funds.
Perhaps the Civic Federation would like to look struggling providers for the developmentally disabled in the eye and say: Tough luck. Or, decide which underemployed mothers will receive child care assistance. Or tell seniors they’re outta luck.
Instead, we’ll raise taxes on individuals and corporations only for pensions and public employee health care costs and forget about everyone else. Yeah, that’ll go over well out in Voter Land. Also, how do they propose to find any legislative votes for that proposal?
Please.
That’s almost as comical and politically suicidal as playing gotcha games by implying that the governor is not serious about getting the budget in order unless he’s willing to zero out the Illinois Arts Council.
* And that brings us to House GOP Leader Tom Cross, who penned this op-ed with the chief executive officer of the Illinois Policy Institute…
“We’re moving to Texas,” to paraphrase what a few friends have said. “Dallas has the best growth opportunity for what I do. Plus, there’s no income tax and property taxes are much lower. We can live like kings there.”
One of my brothers lives near Dallas. I love my brother and he loves his town, but I wouldn’t live there if you paid me. It’s far more sensitive to boom and bust cycles, the downtown area is dead for a city its size and the rest of the region is one, giant suburb without anything approaching an adequate public transit system. Its wages aren’t exactly progressive.
Maybe Cross ought to visit before proclaiming it to be the land of milk and honey with streets paved with gold. Or, maybe he ought to just move there if that’s the sort of place he desires. I’ll take Chicago, with all its problems, any day.
Dallas also has advantages that we don’t have, like sitting on top of a recently discovered and truly gigantic natural gas reserve. Short of stealing their natural resources, I’m not sure how we ever even the score on that point. It’s also warm in the fall, winter and spring, which attracts some folks. Perhaps global climate change will help us on that point.
posted by Rich Miller
Tuesday, Apr 14, 09 @ 10:10 am
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Deep breaths please, Rich.
Nothing is going to go over well in our Voter Land, because our situation, so no idea is too crazy right now.
I say we let anyone float their ideas, and we should received them without going ballistic.
After all, they are just ideas at this point.
Comment by Leroy Tuesday, Apr 14, 09 @ 10:23 am
Why does the Civic Federation of Chicago believe it can speak for the wants and needs of the entire state? Micro thinking by Chicagoland has been one of the contributing factors to budget problems throughout the state.
Comment by make it so Tuesday, Apr 14, 09 @ 10:26 am
I preface comments re this kind of stuff w/”I am a state employee” so people know my bias, etc. Really, now, does the civic federation believe that any legislation to raise the state income tax to pay for only pensions has a snowballs chance in hell of going anywhere? C’mon, now. This group is clueless. Of course, I would like to see the problem solved but let’s come up with something a bit more realistic. This is a waste of time.
Comment by dupage dan Tuesday, Apr 14, 09 @ 10:33 am
===I say we let anyone float their ideas, and we should received them without going ballistic. ===
If they want to float politically realistic ideas, then that’s wonderful. Pie in the sky goofiness like this ought to be labeled for what it is.
Comment by Rich Miller Tuesday, Apr 14, 09 @ 10:36 am
Perhaps global climate change will help us on that point.
I checked the thermometer outside and it said 38 degrees. Hopefully you are referring to a climate change for the warmer.
Comment by Six Degrees of Separation Tuesday, Apr 14, 09 @ 10:42 am
Rich, you wrote, “but I wouldn’t live there if you paid me”
Don’t dimiss the greater point just because you aren’t a fan of Dallas.
Tax free flight is not a myth, but a long and short term problem. I live in a town with a population of 10,000. Already, two of our leading citizens (mid 50’s age) have established their residency in Texas and Florida, because of Illinois’ income taxes.
Here’s the long term problem. Their children are quickly losing their ties to the state. When they inherit their parent’s wealth, they won’t be inclined to invest in Illinois opportunities.
These are multi-generational business people who no longer wish to endure the direction of Illinois tax and spend environment.
The issue isn’t Dallas’ draw. The issue is Illinois’ push!
Comment by Downstater Tuesday, Apr 14, 09 @ 10:44 am
Downstater, there is simply no way we can compete with an oil state like Texas on income taxes. We have to do it in other ways. I agree there’s much to be done, but Cross’ hyperbole is grating.
Comment by Rich Miller Tuesday, Apr 14, 09 @ 10:47 am
Illinois ranks 48th in job creation, which means Texas and 46 other states are doing a better job. If the notion of Dallas is grating, just pick a city outside of West Virginia and Louisiana.
Comment by easy Tuesday, Apr 14, 09 @ 11:05 am
Always remember that the CF CEO, Lawrence Msall, was a longtime state employee in DCCA and economic development — which may be the source of the goofiness and the need to pontificate in the media on (roughly) a weekly basis, whether or not your opinions are valid or not.
Comment by jaundiced eye Tuesday, Apr 14, 09 @ 11:09 am
Rich,
Thanks for the response. We can’t keep making excuses. Not everyone is going to “oil rich” Texas. They are locating to Florida as well.
The technology of today allows many to do their work from a variety of locations. The Chairman and President (two different people) of an Illinois based public firm both live outside Illinois. They are in the state approximately 12 days per year. And yet they can quickly and easily conduct their business.
An attorney relative spends 3-4 months outside the state. With telephone and internet connectivity, few if any clients know (or care) where he’s operating from.
Finally, the cost of starting businesses in Illinois is incredibly burdensome. Here’s some quick numbers:
To form an LLC in Illinois costs $700.
In Indiana it’s $90
Annual costs to maintain an LLC - In Illinois - $250.
In Indiana it’s $11.50.
I’ve started a few small businesses (some worked, some did not). For our next venture, we are looking to create the entity in the State of Indiana. In addition to lower fees, the state offers work comp rates that are 1/3rd that of Illinois.
We can’t keep going down this path, of driving high net worth and businesses out of the state, and thinking we will someday enjoy an economic resurgence.
Comment by Downstater Tuesday, Apr 14, 09 @ 11:12 am
–People are leaving for better opportunities because Illinois is unfriendly to business and families. –
Since I have a business and family here, I thought I’d better find out what Statewide Tom was talking about with this unsupported statement.
He doesn’t source anything regarding his 760,00 “outmigration.” Nor does he cite his economic growth and job creation figures that for some reason use 1977 as the base year. Well, I’d like to see where they come from and then break them down further.
The U.S. Census Bureau says from 2000-2007, Illinois population grew by 430,000 people or 3.5%.
Texas, by contrast, grew by 3 million people or 14.6%. We know about 250,000 of that number were those relocated to the Houston area from New Orleans after Hurricane Katrina. And since about one-third of Texas households speak a language other than English, I’m guessing the rest of that growth didn’t come from Illinois tax expatriates.
Texas is a big industrial state. Illinois’ a big industrial state. There’s growth, and then there’s growth.
I like traveling the country and find something good everywhere I go. But I’ve yet to discover one of these no-tax Utopias that some of the full-mooners see everywhere.
If you want to talk taxes, talk taxes. If you want to move to Dallas, move to Dallas (better bring your own water though; they’re just about tapped). And remember, Ft. Worth comes with the package.
Me? I’d prefer Austin or San Antonio. But I’m staying here.
Comment by wordslinger Tuesday, Apr 14, 09 @ 11:13 am
There’s a Tax Haven in Texas
There’s a tax haven in Texas
That I am going to see
No other state can touch her
For living cheap and free.
Chicago cried when I left her
It like to broke her heart
But with governors like Blago
My businesses can’t start.
Dallas is the sweetest
Tax haven that I knew
Her skyline sparkles like diamonds
They sparkle like the dew.
You may talk about Manhattan
And sing of Miami
But the tax havens in Texas
Beats Blue State Misery.
Oh, my wallets fat and happy
And my kids go to real schools
Sayonara Mayor Daley
And Cook County’s other fools.
You may talk about Chicago Cubs
And drink Goose Island Beer
But Illinois is no friend
To taxpayers they claim are dear.
Comment by VanillaMan Tuesday, Apr 14, 09 @ 11:19 am
In the very long term, IL’s geographical location (which has been milked for a few centuries as a transportation crossroads) will keep attracting people and business. And a large supply of fresh water comes in handy as the west continues to dry up. The US will probably contain 500+ million people by 2100 (barring the unknown) and they’ve all gotta live somewhere. I shudder to think of the natural resources of Nevada trying to support the 12+ million people now living in IL.
Comment by Six Degrees of Separation Tuesday, Apr 14, 09 @ 11:19 am
Rich writes:
“[Dallas is] far more sensitive to boom and bust cycles, the downtown area is dead for a city its size and the rest of the region is one, giant suburb without anything approaching an adequate public transit system. Its wages aren’t exactly progressive.”
The American economy is “far more sensitive to boom and bust cycles” than Germany or North Korea…and that’s a fantastic thing! That means innovation, entrepreneurship and great advances in living standards are possible here and people remain static elsewhere.
Think about it. Liberalized labor markets like those in the US are the most “progressive” labor markets in the world.
Comment by Southern Transplant Tuesday, Apr 14, 09 @ 11:30 am
I guess people see what they want to see when it comes to tax laws.
Texas may be able to get by with no income tax because of its oil reserves, and Florida can survive without one because they have plenty of tourists to tax. But what are their sales taxes, licensing fees, etc. like? How difficult is it to obtain property insurance, especially close to the coast where there is a hurricane threat? What happens when the next spike in oil prices, major hurricane, terrorist attack, etc. sends tourism or the oil industry into free fall? There are advantages and disadvantages to every state and its tax structure.
Comment by Secret Square Tuesday, Apr 14, 09 @ 11:30 am
If you wanna move to Dallas, you’re actually better off leaving your kids in Chicago public schools:
the overall graduation rate in Dallas was only 54 percent. The odds that a student entering the ninth grade in Dallas public schools will earn a regular diploma are hardly better than a coin toss. This horrific graduation rate is low even when compared to other large metro school districts. Of the 100 largest school districts in the United States, Dallas public schools rank 80th in overall graduation rate.
Adios, Senor Cross.
Comment by Yellow Dog Democrat Tuesday, Apr 14, 09 @ 11:31 am
Wow, Tom Cross wants Illinois to be as great as Texas.
How do the two states stack up?
Uninsured: IL - 14%; TX-25%; U.S.-15%
Living up to 199% of Federal Poverty Line: IL- 33.4%; TX-42.3%; U.S.-35.8%; Texas ranks 4, Illinois 28
Median income: IL-$51,320; TX-$44861; U.S.-$49,901
Per Capita State Spending: IL-$3,603; TX-$3,398; U.S.-$4,773; Gee, none too different
Women receiving prenatal care: IL-86.2%; TX-61.6%; U.S.-83.2%
Teen Birth Rate (per 1,000): IL-39.5; TX-63.1; U.S.-41.9
Source: Kaiser Family Foundation, http://www.statehealthfacts.org/index.jsp
Are there areas where Texas does better, or at least no worse, than Illinois? Sure. It currently has a lower unemployment rate for one. All the same, let’s not hold out Texas as nirvana. With some of those supposed advantages for “bidness” come some costs for society as a whole.
Comment by Willie Stark Tuesday, Apr 14, 09 @ 11:35 am
Rich, Texas may have gas and oil. But here in the midwest, we’ve got the water.
Comment by Wumpus Tuesday, Apr 14, 09 @ 11:41 am
Word,
You need to look at the “components of change” to get the true picture. Not sure where the 760,000 figure you reference in the Cross story comes from.
The 2000-2008 Census estimates indicate a negative 585,075 domestic outmigration for IL. The only reason IL is currently gaining overall is because of foriegn immigration and a favorable birth over death rate.
CA and NY have a far higher net domestic outmigration, but then they’re bigger states (CA’s outmigration trend is fairly recent…but look at all that growth in the adjacent states, collecting their tired, rich and hungry).
FL is by far the highest in net domestic in-migration, followed by AZ and TX.
http://www.census.gov/popest/states/NST-comp-chg.html
Comment by Six Degrees of Separation Tuesday, Apr 14, 09 @ 11:41 am
This debate is too anecdotal, since everyone’s utility varies. It’s also too narrow: I’d worry more about how higher taxes affect incentives, and thus decisions, among Illinois residents than I would about the number of people who will flee to WA, TX, FL, NH, etc.
Comment by Greg Tuesday, Apr 14, 09 @ 11:48 am
Some other nuggets-
WV is the only state with a negative birth over death rate.
CA attracts by far the most foreign immigrants, followed by TX, NY and FL.
The south by far collects the most domestic migrants, and the northeast drains the most. The midwest drains domestic migrants as a whole, but not as much as the NE, and collects foreign immigrants as a whole, but a lesser # than any other region.
Comment by Six Degrees of Separation Tuesday, Apr 14, 09 @ 11:49 am
Nevada has no taxes, they can move their as well.
Comment by Ghost Tuesday, Apr 14, 09 @ 11:52 am
@Yellow Dog Democrat
Actually, according to federal data (and methods similar to J.P. Green’s) the Chicago Public Schools’ high school graduation rate is about the same as Dallas’s, and actually a bit less: 51 percent.
Check out more grad rates here:
http://apps.arcwebservices.com/edweekv3/default.jsp
This is not to say Dallas’s rate is great–far from it. But just to point out inner-city public schools everywhere have a long way to go. With all of the economic activity in Texas, more kids have access to alternative education sources like charters, private schools, homeschooling, etc.
Comment by Southern Transplant Tuesday, Apr 14, 09 @ 12:01 pm
Anyone who picks one or two parameters and bases a decision to relocate on such narrow criteria is likely to to be disappointed.
If Tom Cross wants to move to Texas, I’ll be happy to help him pack up the U-Haul.
Comment by Pot calling kettle Tuesday, Apr 14, 09 @ 12:04 pm
Jerry Jones is in Dallas and Mike Ditka is here.
Comment by Scooby Tuesday, Apr 14, 09 @ 12:25 pm
You’re missing the point. We are not losing everyone to other states, just those people who benefit from lowering their ginormous income tax bill and those who start and expand companies. We can certainly afford to lose these groups. After all, other states have run these groups out and seemingly have no problems………as long as you dream of living in Michigan.
Comment by Downstater Tuesday, Apr 14, 09 @ 12:55 pm
Downstater, there was no hyperbole in that comment at all. lol
Comment by Rich Miller Tuesday, Apr 14, 09 @ 12:58 pm
Rich,
Okay..maybe a little hyberbole.
But let me put it in perspective. I can identify three multi-millionaires who’ve left our community of 10,000 for more business and tax friendly climates.
The city of Chicago has 2.8 million residents. Would it alarm you if the same percentage, or 840 of the highest net worth people left the City of Chicago in the last 12 months?
At what point should we be alarmed?
Comment by Downstater Tuesday, Apr 14, 09 @ 2:06 pm
If they left because of our tiny 3 percent tax rate, then there’s really nothing we can do. If they left based on property taxes, then it’s your own fault. lol
Comment by Rich Miller Tuesday, Apr 14, 09 @ 2:09 pm
Where does “Downstater” live? And how far away are these wealthy people moving — thousands of miles away to Florida, Texas, Arizona, etc. or a few miles over the border to Indiana, Kentucky or Missouri? I would guess that the farther away they move, the more serious their objections to the Illinois tax structure are.
Comment by Secret Square Tuesday, Apr 14, 09 @ 2:16 pm
Oops, I didn’t scroll up far enough to see that at least two of the people Downstater refers to went to Texas and Florida. My bad! However, people their age (mid 50s) and older have always gravitated to warmer climate states when they retire anyway; that hasn’t changed since I can remember.
Comment by Secret Square Tuesday, Apr 14, 09 @ 2:24 pm
Willie, Dog; good posts. When I look at these low tax havens, I find lower ACT/SAT scores and frequently right-to-work laws, and I see correlations. Right to work laws correlate fairly well with per capita income, and state revenues do affect state funding for education.
So, if you want to live in a poor, stupid state, be my guest. One less silly comment on here. Or move to Mexico, you really can live like a king there, and you’ll become real positive about concealed carry, if you aren’t already.
Comment by steve schnorf Tuesday, Apr 14, 09 @ 2:38 pm
Why would we want people living like kings anyway? Ain’t this a republic? Cross’ comments are quite disturbing to me the more I think about them.
Comment by Rich Miller Tuesday, Apr 14, 09 @ 2:41 pm
Cross refers to kings, you to gold-paved streets, milk and honey . . . I’m thinking there’s plenty of biblically-proportioned hyperbole to go around. But the style is less important to me than substance and there Cross and Tillman have touched on something but I don’t think it is strictly a taxation issue. On children’s health and education indicators, Illinois lags (so does Texas) and, yes, in some instances, circumstance and state policy does indeed push families to move to other states, some of which are as appealing to me as Dallas is to you. Doesn’t invalidate the impetus for the move or the fact that lousy, if not repellent, state policy was a contributing factor.
Comment by Suzanne Tuesday, Apr 14, 09 @ 3:04 pm
Come on Rich. Communities continue to work hard to get their young people to return to their hometowns. But now we’ll let our best and brightest leave the state and not ask if maybe there’s something wrong?
Former Cat President Glen Barton is considered an anomoly because he chose to live in Peoria after his retirement. Glen is now deeply involved in trying to spur on entrepreneurship by helping a lot of start up technology firms.
As I said, Glen is unique. But it’s people like Glen (seasoned and succesful business people) that we need to KEEP in Illinois, not give them excuses to leave.
If keeping our young people in the state is important. Then keeping highly succesful business leaders here is even more critical.
Comment by Downstater Tuesday, Apr 14, 09 @ 3:10 pm
===Then keeping highly succesful business leaders here is even more critical.===
And you would do this how, exactly?
Comment by Rich Miller Tuesday, Apr 14, 09 @ 3:13 pm
====And you would do this how, exactly?=====
Let’s start by realizing the problem in the state is not that we tax too little, but that we spend too much.
Let’s stop creating silly legislation (see Senate Bill 43 or Gross Receipts tax) that scares the bejusus out of every business owner (large or small) in the state. They spend unnecessary time and energy worrying about the impact on their business if this stuff ever gets passed.
Let’s look at the surrounding states to see how they treat their businesses and see if we can at least be competitive. Realize that IL. work comp. rates, 300% higher than the state of Indiana, doesn’t really make us attractive for the expansion of heavy industry.
Let’s address the illegal immigrant issue. Really make tough penalties for companies that employ an illegal ($10,000/penalty per illegal) so that we stop rewarding those firms that knowingly break the law.
Let’s unlock school construction from prevailing wage rates. These rates, which are unrealistically high, necessarily increase the cost of school construction by 30-40%. Thus school districts end up not pursuing critical improvement projects because of the price tag.
The projects never get built.
Our aging school structures do little to lure new companies into the state. And construction worker sit idle because the construction project’s inflation factor (prevailing wage) kept the work from ever being started.
This covers more than just keeping our succesful business people here. But they are mounting evidence of a “business unfriendly” environment.
Comment by Downstater Tuesday, Apr 14, 09 @ 3:33 pm
There were 2 persons who commented on the fact that Illinois has access to a large amount of fresh water, inferring, perhaps, to the idea that this is some type of natural resource that could be used as a commodity. It will not be possible, thank God, for that resource to be used in such a manner as to fulfill the needs of people who have migrated to the southwest but still insist on having a lush green lawn or huge golf courses carved out of deserts which have stripped the local underground aquifers in these arid places. There is an historical compact that has just been recently updated that binds all the states that border the Great Lakes (10 points if you can name them all) and Canada to strict rules on use and disbursement of the waters of the Great Lakes. These fresh water seas are not limitless resources despite their size and majesty. A careful look at the watershed that feeds the lakes reveals that the actual area of land that feeds the lakes is quite small. Most of the nearby rivers and streams run away from the lakes. Most of the water that feeds the lakes comes from a relatively small area north of Lake Superior in the form of annual snowmelt. To divert water from the lakes, municipalities must first show that they are on this limited watershed. No water can be diverted off the watershed without prior approval from the whole group. Unless clouds can be diverted from the midwest to the water wasters in the southwest, no appreciable amount of Great Lakes water can be diverted to the land of the perpetual outdoor air conditioners. The waters of the Great Lakes can not be sold to the great patchwork of outdoor swimming pools in Las Vegas or Scottsdale Az. We can not think of those bodies of water as a source of income unless you are thinking of the movement of grain, iron ore, gravel and sand that is carried by the lake freighters and barges throughout the Great Lakes and navigable waterways connected to it. Ain’t gonna happen.
Comment by dupage dan Tuesday, Apr 14, 09 @ 4:10 pm
@Dupage Dan:
MN, WI, IL, IN, MI, OH, PA, and NY?
Comment by Ben S. Tuesday, Apr 14, 09 @ 5:13 pm
dupage dan,
I referred to the large amount of fresh water as an inducement to live here, rather than tens of millions of people trying to squeeze water out of a rock in the SW. I can’t see the Great Lakes states entertaining the piping of water for 1,500 or 2,000 miles west like the Colorado River aqueducts, but I’m sure someone’s thought of it. Yet there are other hare brained schemes being concocted to pump groundwater from DeKalb and LaSalle counties eastward to feed the western suburbs.
I am thinking more on the lines of a Chicago-Gary-Milwaukee metro area with 20-30 million people who have access to water, transportation and jobs, even though some would like to live in a warmer climate “if they had the water”.
Comment by Six Degrees of Separation Tuesday, Apr 14, 09 @ 5:14 pm
There’s is a lazy, loud, out-of-touch minority that believes you can build a modern advanced society and not spend a dime.
Schnorf talked about Mexico, how about Somalia? Not a whole lot of law, taxes or government interference holding you back there.
I had the pleasure a couple of weeks ago of driving from Ft. Massac and Superman in Metropolis to the shores of Lake Michigan. I’m more familiar with Northern Illinois and the Mississippi Valley, so the trip up the east side of the state was enjoyable and instructional.
My conclusions are that we are an incredibly blessed and rich state. Government can be adjusted, no question. But I’m contemptuous of the attitude that Illinois is some kind of backwater that’s falling behind anyone. There are few spots on the planet that are rich as us, or have more potential for sustained and desirable growth.
If you disagree, move to Dallas, or Phoenix, or Vegas, or Atlanta, or LA. I’ll stay here. Let’s compare notes in 20 years.
Comment by wordslinger Tuesday, Apr 14, 09 @ 5:15 pm
Downstater, we can definitely reduce the cost of government (and not just construction) by outlawing unionization. One, I don’t think that’s going to happen. And, two, our per capita income, now one of the highest in the country, will fall. I don’t like the tradeoff. You may.
Comment by steve schnorf Tuesday, Apr 14, 09 @ 5:27 pm
Do any of you commenting here PERSONALLY know anyone — individual or business owner — who moved out of Illinois purely to escape high taxes? I doubt there are very many people who would uproot their households or their businesses on that one factor alone. Most individuals move for job/professional, family, or health reasons. Differences in taxation might provide an additional incentive or tipping point to someone who is already seriously contemplating a move for OTHER reasons; but they will rarely be the primary reason.
Comment by Bookworm Tuesday, Apr 14, 09 @ 6:19 pm
Bookworm, it was a lazy, poorly written scribe with no real basis in research or facts.
The said part is, there are inefficiencies and inequities in the Illinois tax burden that should be discussed in the political arena. But nonsense like this from Statewide Tom is just going through the motions, and doesn’t spark the debate that makes a minority party relevant.
Comment by wordslinger Tuesday, Apr 14, 09 @ 6:56 pm
Didn’t they say the same thing about doctors leaving Illinois if we didn’t get our tort system under control? Did anyone count the number of physician who fled for greener pastures in MO, IA, IN, WI?
Right. I didn’t think so. Same with this. I’m surprised there’s anyone left here after listening to more of their bs.
Comment by 47th Ward Tuesday, Apr 14, 09 @ 10:00 pm
47th Ward,
The physician flight was real. Detractors said that tort reform in Illinois would never lower malpractise insurance, or retain doctors.
In fact, that’s exactly what happened. Your famous Supreme Court nominee Gordon Maag said he hated frivolous litigation. Of course, immediatley after losing his Appellate Seat and the Supreme Court race, he promptly sued a host of organizations that he blamed for his defeat. He lost that one as well. So much for hating frivolous litigation.
The bottom line is the tort reform did help lower the cost of malpractise insurance and we saw a return of insurance companies writing coverage in the state.
But why let facts get in the way of your own view of reality.
Other’s asked if anyone knew of people who are leaving to avoid state income taxes. YUP! I know two, personally. One makes over $1.5 million/year, the other closer to $5 million/year. With the new proposed tax increase, they’ll save $67k and $225k per year, respectively.
How many new jobs will we need to create in this state to replace the lost income tax from these two departures?
Comment by Downstater Wednesday, Apr 15, 09 @ 9:11 am