While it's easy to shrug off the rich guy across town leaving,
there is good reason for all of us to be concerned.
Have you ever worked for a business person poorer than yourself? Me
Even those working in the public sector need to remember where taxes
come from to pay for their jobs.
And yet, Illinois is consistently pursuing policies that are pushing
these job creators to more hospitable business climates.
Where those jobs go, poor and middle-class Illinoisans are sure
to follow as well.
This migration translates into real money, according to Travis
Brown, author of the book "How Money Walks," a project that measures
where people are moving based on tax returns.
"Illinois as a state lost $29.27 billion over the 18 years from 1992
to 2010," Brown said.
During that period, only California and New York lost more income
than Illinois, his study found.
"That's a loss of $185,000 per hour. We forecast that between 2010
and 2014, Illinois lost somewhere between $5.4 and $7 billion in
adjusted gross income due to migration," Brown said.
Illinois is in that minority of states that continues to levy an
Increasingly, estate planners are advising retired, successful
Illinoisans to consider moving to a state without an estate tax so
assets can be passed more easily from one generation to the next.
That hurts all of us.
When successful retirees leave, they are no longer spending money in
the Land of Lincoln, paying taxes here or donating to Illinois
That equates to fewer jobs for the rest of us, and ultimately it's
why all of us should be concerned.
Scott Reeder is a veteran
Statehouse reporter and the journalist in
residence at the Illinois Policy Institute. He can be reached at
email@example.com. Readers can subscribe to his free
political newsletter by going to
ilnews.org or follow his work on