Illinois......are you staying or leaving? (Chicago: calculated, gated, high income)

[Taco1234]

Originally Posted by flamadiddle

Yeah, that's an interesting angle. If you think about it, the ones likely to move first are those that are truly pressured by the higher property taxes. The current situation may be performing a nice toilet flush so to speak. Now don't get me wrong, if Illinois pushes it too far (like raising the income tax), then it will erode the upper middle class and rich too, but right now it seems to be mostly flushing the riff raff.

I'm free to live anywhere I want and for now, I'm staying in Illinois.

and btw getoutofillinois, that picture of the snowstorm on your site is one of the reasons I moved back! Seriously, who doesn't love a good snowstorm? and or a white christmas? You'll never get that in Charlotte!

Flushing out the riffraff? Hilarious! The people that I know that are leaving are all highly educated and have great jobs. It's not as easy to move out of state as you'd think, and you know this all too well. Physically moving alone is going to cost us $5000...

Don't make the false assumption that most of the people leaving are leaving because they have no other choice. Everyone I know that is leaving is leaving because they have a choice and better opportunities. Illinois is totally screwed, and choosing not to see it is obviously an individual choice we all must make.


A taxing year ahead: Expect to pay more for your home, parking, water and more - Chicago Tribune

[Vlajos]

Originally Posted by Taco1234

Flushing out the riffraff? Hilarious! The people that I know that are leaving are all highly educated and have great jobs. It's not as easy to move out of state as you'd think, and you know this all too well. Physically moving alone is going to cost us $5000...

Don't make the false assumption that most of the people leaving are leaving because they have no other choice. Everyone I know that is leaving is leaving because they have a choice and better opportunities. Illinois is totally screwed, and choosing not to see it is obviously an individual choice we all must make.


A taxing year ahead: Expect to pay more for your home, parking, water and more - Chicago Tribune

Except the actual census statistics show high income earners and the educated growing in the City. Houesholds earning over $100K is the fastest growing income level in Chicago actually.

And the middle class is likely shrinking here due to the same reasons it is across the country.

http://reason.com/blog/2015/12/10/th...ing-because-th

[OyCrumbler]

Right, and for Chicago there seems to be about as many reasons for people to come in as there is for people to leave. It is important that Chicago and Illinois address the many issues it's faced with that do drive out people that can be contributing parts of the workforce. It's also at the same time not be completely aware of the many great attributes of Chicago that still draw people in. Harping about just one side or the other isn't really sensible and what's odd is to put so much effort or trying to profiteer on the ills of the city. I find this particularly odd about that coming from people in northwest Indiana as a Chicago that's doing poorly will very directly affect them in a negative way. That's become obvious with city centers that have done poorly and hollowed out and some of its suburbs believing that it won't come to affect them.

[Taco1234]

Originally Posted by flamadiddle

Yeah, that's an interesting angle. If you think about it, the ones likely to move first are those that are truly pressured by the higher property taxes. The current situation may be performing a nice toilet flush so to speak. Now don't get me wrong, if Illinois pushes it too far (like raising the income tax), then it will erode the upper middle class and rich too, but right now it seems to be mostly flushing the riff raff.

I'm free to live anywhere I want and for now, I'm staying in Illinois.

and btw getoutofillinois, that picture of the snowstorm on your site is one of the reasons I moved back! Seriously, who doesn't love a good snowstorm? and or a white christmas? You'll never get that in Charlotte!

Oh, and your argument about IL having lower income tax to offset higher property taxes? Kiss that goodbye!


Budget

• An increase in the personal income tax rate from 3.75 percent to 4.95 percent

[Taco1234]

Originally Posted by Vlajos

Except the actual census statistics show high income earners and the educated growing in the City. Houesholds earning over $100K is the fastest growing income level in Chicago actually.

OK, that's because the only people who can afford to move here are those at higher income levels... my point was that not everyone leaving is poor or can't afford it. We can more than afford it, we just refuse to pay 15 or $20,000 in property taxes a year to pay back money that was stolen by corrupt politicians. Why should anyone have to deal with that? Sorry, close proximity to a few museums isn't that important to me. I'll take a few weekend trips a year to New York/Chicago and not have to pay for all of that out of my own pocket

[Taco1234]

http://www.chicagobusiness.com/artic...oreUserAgent=1


Quote:
Illinois' population is dropping. The state's prime tool to lure jobs, Edge tax credits, expired on Jan. 1. Employment growth has slowed. The pile of unpaid state bills has passed the $11 billion mark. The budget for state colleges and universities and many social services agencies ended on Jan. 1.

At least as bad, a new report by Standard & Poor's says that Illinois revenues now have turned negative, with the state running $732 million, or 6.3 percent, below budget so far in fiscal 2017—worse in dollars than any other state, and larger on a percentage basis than any states except oil-dependent Oklahoma and North Dakota.

[JTE1969]

I still love living in Chicago. When I traveled America's Midwest during Winter 2015 - 2016, I discovered that I lived in a very rich environment [compared to many cities] when I was growing up... Wicker Park - I had basketball [outdoor and indoor], indoor swimming and weight rooms, and a big baseball field and tennis courts by Clemente high school. Plus I was a bike ride [4 miles] away from Lake Shore Drive Beach.

But now, I wouldn't rent or own property in Chicago, because of the dreaded billion dollar deficit caused by corrupt Mayors and City Personnel.

Chicago has been trying a resurgence of Entrepreneurial Businesses, but I am wary of starting a business in Chicago. [Many taxes and regulations]. There are Entrepreneural and Business Fairs and seminars I had been going too, but I never developed a fully developed Business Plan yet. But I had been setback by USB Stick / USB Hard Drive / PC destruction and loss of data, and that puts me back.

[GoCUBS1]

Originally Posted by Taco1234

Flushing out the riffraff? Hilarious! The people that I know that are leaving are all highly educated and have great jobs. It's not as easy to move out of state as you'd think, and you know this all too well. Physically moving alone is going to cost us $5000...

Don't make the false assumption that most of the people leaving are leaving because they have no other choice. Everyone I know that is leaving is leaving because they have a choice and better opportunities. Illinois is totally screwed, and choosing not to see it is obviously an individual choice we all must make.


A taxing year ahead: Expect to pay more for your home, parking, water and more - Chicago Tribune

1. The trend is NOT that the "highly educated with great jobs" are all moving away - the complete opposite is happening (see all the linked articles/trend stats on this thread).

2. A $5000 out-of-state moving cost is indicative of a very small move (a single person apartment move with few items?). A single-family house out-of-state move of "the highly educated with great jobs" would probably be at minimum $12,000 - $15,000 or more. I believe $20k is a typical company move/relo package? I've moved away from Chicago 3 times (thank heavens I'm back) and got multiple competitive moving quotes each time - never below $12k.... And I packed my own boxes.

People who are spending $5000 to move out-of-state are not likely the higher income SFH owners moving valuable items.

[GoCUBS1]

Originally Posted by Taco1234

Oh, and your argument about IL having lower income tax to offset higher property taxes? Kiss that goodbye!


Budget

• An increase in the personal income tax rate from 3.75 percent to 4.95 percent

High income earners do you not care as much about this, because they have tax sheltering built into their portfolios.

[GoCUBS1]

Originally Posted by JTE1969

I still love living in Chicago. When I traveled America's Midwest during Winter 2015 - 2016, I discovered that I lived in a very rich environment [compared to many cities] when I was growing up... Wicker Park - I had basketball [outdoor and indoor], indoor swimming and weight rooms, and a big baseball field and tennis courts by Clemente high school. Plus I was a bike ride [4 miles] away from Lake Shore Drive Beach.

But now, I wouldn't rent or own property in Chicago, because of the dreaded billion dollar deficit caused by corrupt Mayors and City Personnel.

Chicago has been trying a resurgence of Entrepreneurial Businesses, but I am wary of starting a business in Chicago. [Many taxes and regulations]. There are Entrepreneural and Business Fairs and seminars I had been going too, but I never developed a fully developed Business Plan yet. But I had been setback by USB Stick / USB Hard Drive / PC destruction and loss of data, and that puts me back.

Analysis paralysis? SO MUCH business opportunity in the city of Chicago. It is mind-boggling.