The Wall Street Journal Editorial Board cited Wirepoints’ analysis of the IRS’ state-to-state migration data in their latest piece documenting the annual drain of people from blue states to red states.
Read the WSJ editorial: The Blue-State Wealth Exodus Continues
Read more from Wirepoints:
- The great exodus continues: Fresh IRS data shows Illinois loses residents to 40 other states
- IRS migration data: Big blue states biggest losers of people, wealth. Big red states biggest winners. – A Wirepoints 50-state survey
- When it comes to population growth, there is no greater contrast than Illinois and Florida
Expect no retraction or apology. This what they do.
The state’s existing buyout program for its own pensions is the precedent for Chicago, which should be a warning: Look out for similar exaggerated claims and shoddy analysis.
Nice job wirepoints
Hmm, why can’t a Democrat make a U turn?
Illinois today also has one the lowest estate tax exemption thresholds in the country as well. I mean honestly this state is a joke.
We moved three years ago to nearby Indiana. We considered a lake home in IL but property taxes were nearly $20,000/yr. We bought in Indiana—same value home—and taxes are $1800. You can do a lot of things with $18000.
The easiest way to raise your standard of living is to move out of Illinois to a lower tax state.
The quality of life will increase greatly.
I would like to hear from those who post negative votes on these postings to understand why they disagree with the comment. Already gone posted a factual account of his experience. How can anyone disagree with him, unless it’s Pritzker and friends voting it down.
DeSantis was an awful presidential candidate, but he’s America’s top-performing governor bar none.
I like DeSantis so much! He is no-nonsense. Would like him to run for President again.
Trump is a buzzsaw that cuts through everything. Most Republicans believe he deserves his second term. DeSantis didn’t have a chance. But DeSantis is a young guy and he’s i think limited by how many terms he can run in FL.
DeSantis will be back at the presidential campaign in 2028 and/or 2032. Trump 2024 is partially about poking DC and their weaponized justice system in their eye. If kangaroo justice can happen to Trump it can happen to anyone who dares to oppose the Swamp.
DeSantis or Trump over senile satan any day
People departing blue states do need to choose wisely, particularly younger individuals. You don’t want to find yourself in the same predicament a few years down the road. Make sure you are going to a solidly red state, or one that is trending in that direction.
Once again, I’ll put in a plug for Tennessee, one of the nation’s most conservative states.
One of my daughters and her husband moved from upstate NY to Tennessee three years ago. Both have six figure incomes on remote jobs. With no state income tax, and a property tax 1/8 of NY, on a nicer home than they had in NY, they save $30,000 a year! They are saving every penny of it and will have– if they invest it half way intelligently–almost an extra $900k cash when they are 55. Who would live in NY if you did not have to?
The “new” influx of blue locusts is starting to screw TN however. Just ask folks living in Nashville.
There are plenty of good reasons to stay in Illinois. If you are a pothead, for example, or a degenerate gambler,
or perhaps a same-sex “person” looking to get married to another individual with the same choice of lifestyle.
As for the rest of us? We choose sanity.
Florida and Texas are the big-time gainers and should be as they treat everyone fairly.
The pension time bomb is exploding in almost all the Blue States. Once the public sector worker gets their pensions, they move to a Red state to enjoy the money.
Only about 20%, but heavily concentrated in the university system, who really want to get out of the depressing small towns our state colleges are located in.
“Once the public sector worker gets their pensions, they move to a Red state to enjoy the money.” You repeatedly make fact assertions like that with no basis, which is part of why 20 or so of your mindless comments per day go to trash and are deleted.
There is some basis to the statement made by Leaving. According to an article from the Daily Herald 71,000 public pensioners moved to other states like Florida/AZ/Wi. taking $2.4B with them. This article is from 2019 so that may be higher. In the TRS 25,203 public pensioners are taking $1.2B out of $6.4B to other states. I will try to post the link but it is behind a firewall. Hope it works.
https://www.dailyherald.com/20190620/news/how-many-collecting-illinois-pensions-have-moved-to-other-states-and-how-much-did-they-take-with-th/
Yes, that’s about 18% of IL pensioners.
If a retired public sector worker retires to a red state like Indiana, their pension would be taxed. In Illinois, the public sector pensions are not taxed, correct? So public sector worker who retires to Indiana gets lower property taxes but has to pay taxes on pension.
All of life is like that when you make any life changing decision: you get some advantages and some disadvantages. Anyone moving primarily for financial reasons likely will find other things to dislike maybe even more. You always give up some thing and get other things as a result. Marital discord probably ramps up as one common example.
A pensioner who leaves Illinois is not taxed by Illinois. Some other states exempt retirement income and some do not. Indiana has certain exemption but I believe (not sure) it does tax most pension income.
You are correct Reese. For some people with good retirement income, moving to other states that tax retirement income is more expensive than the great retirement value of Illinois. Illinois would rather see a couple of retired pensioners that are pulling in 300k per year not have to pay income taxes while a hard working Joe making 50k should pay more in taxes.
Illinois should be concerned about the likely mass out-migration that would result from taxing retirement income. Also, since Pritzker likes graduated income tax rates, those $300K per year pensioners may be among the first to leave. A better approach than taxing retirement income would be to cut spending on many of the bloated programs, but, as we know, Dems aren’t good at doing that.
Who cares if these people leave. They are not paying much in taxes compared to others. Their property taxes will be paid by the next owner. Most people don’t move just because they have to pay income taxes when retired. Time to get some of that money.
By moving to SC, we saved $10K a year in property taxes alone, let alone lower sales taxes, gasoline taxes and insurance rates. Though SC taxes retirement income, and that tax has been lowered every year, and may eventually disappear, the income tax paid is nowhere near the amount saved by all these other taxes. Net gain.
And that’s the point. Everyone has to eat wherever they live. It’s just easier shopping for food with an extra 10k in your pocket.
Saving 10k in property taxes would still cause me to pay more overall tax in SC than Illinois. My retirement income would be taxed around 18k per year and only go much higher once required minimum distributions kick in. High income retirees benefit greatly by Illinois retirement tax policy. Everyone’s situation is different.
Censorship is why they get deleted. Let the readers decide, you may be surprised by the results. Florida is loaded with cops, teachers and firemen from all the Blue States. Most of them are young compared to the private sector retiree.
The Illinois governor has a nice Mansion in Florida. Florida has low taxes, and low crime and nice sunny blue skies.
Nearly $2.5B in Illinois public pension payments flow to 70K out-of-state retirees (illinoispolicy.org)
The number is growing higher every year. More and more people are getting out while the getting is good. Chicago is a terrible place to live and raise a family. Poor police protection, poor education, lousy weather and some of the highest taxes going higher. Run for your economic life and personal safety.
That’s just around 20% and it does not say growing every year, though it probably is. You routinely put up facts that are either obvious or have no basis, and the vast majority of your comments, that we delete, say the same blanc thing — leave now taxes going higher….. Dozens and dozens of those every week that we just delete. Find another way to waste your time rather than trying to blanket this site.