The migration of taxpayers from high-tax to low-tax locations continues, and more states are trying to reduce or eliminate their income tax to stay competitive. The next may be Missouri, where voters will consider a ballot measure to phase it out.
Illinois has plans to ignore the past referendum and increase the state income tax, with a tiered approach. There are other measures in process to separate you from your money, seemingly without regard of income. Illinois does not follow any trend other than tax and spend…
Look at the property tax reform we have received after all the claims to reduce the burden, during election cycles. They win and nothing ever gets done, apparently too many in Springfield benefit personally from a broken property tax system.
SALT – State and Local Taxes; don’t get me started on Chicago’s plan to add taxes to businesses.