Record losses of taxable income and taxpayers for Illinois
Posted by Riverbender on January 3, 2020, 12:09 pm
Unfortunately they do not post data on the Democrat voting welfare parasites including illegal immigrants that move in but hey why worry about that. Illinois can just simply raise property taxes to make up the difference. |
The IRS has just released new domestic migration data for both 2017 and 2018* and it shows Illinoisans left the state in record numbers. In both years, Illinois lost more people and more taxable income than in any past year reported by the IRS.
The IRS data complements the new Census Bureau data** that shows near-record out-migration of Illinoisans in 2019.
Illinois lost a net of more than 130,000 residents (tax filers and their dependents) in 2017 and another 88,000 in 2018. The state’s tax base shrunk by $6.8 billion and $5.6 billion respectively, as those who left took their incomes with them.
In 2018, the $5.6 billion in lost taxable income cost the state approximately $230 million in additional income tax revenues alone. That number doesn’t include millions in sales, property, gas, and other taxes that weren’t collected as a result of fewer people living in Illinois.