2011 income tax hike drove wealthier Illinoisans to other states – Illinois Policy

The average income of people leaving Illinois shot up by $8,000 in the first year of the state’s 2011 income tax hike.
4 Comments
Newest
Oldest Most Voted
Inline Feedbacks
View all comments
Michael Lucci
10 years ago

The IRS stone-walled the migration data for a long time. As far as anyone could tell it was purely for political reasons, especially since they continued providing the data as an input that the Census Bureau uses.

This was for the 2011 tax year, filed in 2012. Something got the IRS back on track, and they will be releasing migration data for 2012-13 on Aug 26, and 2013-14 on Sept 30.

http://www.irs.gov/uac/SOI-Tax-Stats-Upcoming-Data-Releases

mark glennon
10 years ago
Reply to  Michael Lucci

Attaboy, Lucci. Stay on it.

nixit71
10 years ago

This is a statistic that needs to be tracked on a yearly basis. This is what concerns me about a progressive tax. If the state keeps losing its more “productive” workers, that means all that pension debt is going to fall on the ever decreasing portion of the population that can “afford” to pay. Since the meat of the tax revenue curve is the $50-150K crowd, I foresee a Legislature backing into yearly budgets by increasing progressive tax rates on the smaller subsets of the population – mainly the $75K+ crowd. The flat tax, for whatever deficiencies it might have,… Read more »

mark glennon
10 years ago
Reply to  nixit71

Nixit, you’re sure right that it should be tracked every year but there’s a reason why it’s not: The IRS stonewalls it. You can see that the best the Mr. Lucci could find was 2012 data. We should have it for at least 2013, and there’s no doubt the IRS could spin that out it wanted to. W’eve written a number of articles saying there should be state and Fed data on migration of high income taxpayers. They don’t want to see the data, one has to suspect. The anecdotal data on the ultra high net worth people leaving IL… Read more »

SIGN UP HERE FOR FREE WIREPOINTS DAILY NEWSLETTER

Home Page Signup
First
Last
Check what you would like to receive:

FOLLOW US

 

WIREPOINTS ORIGINAL STORIES

WE’RE A NONPROFIT AND YOUR CONTRIBUTIONS ARE DEDUCTIBLE.

SEARCH ALL HISTORY

CONTACT / TERMS OF USE