Encouraging High End Earners and Seniors to Leave Illinois

The first thing my wife said when I told her my pension check might be cut 5% and her paycheck 2% by the Democrats (and, unfortunately, likely some Republicans in the General Assembly was

“Can we move now?”

Our front yard today.

Who would want to live here in the land of ice and snow?

Add the disincentive to the retired of a new 5% income tax on pensions and Social Security and a fair number of those who can leave probably will.

I was reminded of my wife’s question when I read this paragraph from a Chicago Tribune op-ed piece by Professor Allen R. Sanderson of the University of Chicago today:

“As our population turns grayer, that also means “snow birds” will likely become “sunbirds.” They’ll also be avoiding sizable tax bites, which, in addition to weather, make North Carolina, Florida, Texans and Arizona attractive destinations.”

He concludes:

“But the economic climate could worsen considerably in the city and state as lawmakers wrestle with budgetary exigencies. And it may well be the political winds, not nature’s gusts, that cause firms and families to don Horace Greeley T-shirts and look at Chicago’s skyline in the rearview mirror on their way west and south.”


Comments

Encouraging High End Earners and Seniors to Leave Illinois — 1 Comment

  1. Cal, if it’s good enough for ‘Dirty Keith’ it’s good enough for the Skinner Family. I showed you how to file ‘Homestead’ in Florida already. No state taxes there as you know.

    Then you can get away with income tax issues as well….. Just stop by the Sheriff’s office, you can learn all about it. Oh, don’t forget to stop by Donna Mayberry’s office as well to get your denial ‘letter’ so you can deny you knew what the heck you were doing while down in Florida.

    Don’t forget cal, you only have to have one party to the marriage claim the exemption in Florida.. then file ‘joint married’ under the Florida homestead when you do your income taxes.. I’m told it works great!

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