By Ted Dabrowski and John Klingner | Wirepoints
Long-time readers of Wirepoints’ IRS out-migration work will know Illinois is a net loser of households in every single income and age bracket the IRS tracks. The latest 2022 tax year data is no exception, showing Illinois lost thousands of households in each of the 12 brackets.
Now a new cut of the data shows Illinois ranks near-last nationally in almost every one of the brackets, revealing just how repellent the state’s policies are for Illinoisans across the board.
Start with the big money earners. Illinois gained from other states 7,100 households earning $200,000 or more in tax year 2022, but it lost over 16,400 such households to other states. In other words, Illinois gained only 0.43 households for every one it lost – the worst in the country.
Contrast that with the nation’s biggest winner, Florida. Nearly 47,000 households earning more than $200,000 moved into Florida from other states, but it lost only 17,100. The net result was a gain of 2.74 wealthy households for each one that left.
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Below we lay out the gains and losses for each state for the $200,000-plus income bracket.
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It’s the same story for Illinois across all the income brackets – the state’s households-gained-to-households-lost ratio ranked between 46th and 50th nationally.
Read more here.