New rankings show Illinois dead worst on total state and local tax burden – Quicktake

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nixit
6 years ago

Something seems strange about the MN (32) and IL (30) income tax rankings. The study is based on a 55,754 median income, so MN’s effective income tax rate on that median would be 6.28%. Would’ve thought there’d be a much larger gap. Maybe because MN has personal exemptions 2x bigger than IL?

Most people don’t know the starting point for taxable income in MN starts at 1040 Line 43 vs Line 37 in IL. That means they get to deduct itemized deductions before determining tax liability. Not sure how that plays out overall, but guessing it lowers the burden.

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A statewide concern: Illinois’ population decline outpaces neighboring states – Wirepoints on ABC20 Champaign

“We are not in good shape” Wirepoints’ Ted Dabrowski told ABC 20 Champaign during a segment on Illinois’ latest population losses. Illinois was one of just three states to shrink in the 2010-2020 period and has lost another 300,000 people since then. Ted says things need to change. “It’s too expensive to live here, there aren’t enough good jobs and nobody trusts the government anymore. There’s just other places to go where you can be more satisfied.”

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