When a government turns tyrannical, the best and the brightest leave first, which always hits the tax base. From Ted Dabrowski and John Klingner at Wirepoints via zerohedge.com:
One of the most damaging impacts of Illinois’ people loss to other states is the destruction of Illinois’ tax base. When people leave in a given year, they take their incomes (adjusted gross incomes, or AGI) with them, and that means the state’s tax base suffers.
A smaller tax base, everything else equal, means less tax revenues for safety, education, road repair and every other core government service – or, as is typically the case in Illinois, more debts and more tax hikes.
Unfortunately, Illinois’ out-migration problem is much bigger than just a one year loss: the state has lost people and AGI every single year since at least 2000, the first year of Wirepoints’ out-migration analysis. The AGI losses pile up on top of each other year after year, slashing Illinois’ tax revenue growth and destroying Illinois’ overall prosperity.
In all, the cumulative impact of out-migration for the last 23 years means the state budget lost out on about $3.6 billion in income tax revenue in 2022 alone. (Said another way, had Illinois not lost all those people over the last 23 years, the state would have had $3.6 billion more in income tax revenues in 2022 alone.)
The really great ones left back in Year Zero 2009?
I have some fam there behind CPUSA (D) lines.
Farmers in Black Soil country.
One almost made the White Sox in AAA level of minor leagues.
They have muh weed there but it didn’t solve the Chicago pension crisis?
My favorite is the rough road ahead signs, well fix the damn thing.
This just in from Wilt:
Regorged