Illinois plans to self-destruct

Here’s a basic principle for 21st-century governance: to attract investment and high-skilled workers, a government must make it attractive to do business in their locale.

I note this in light of Illinois’ newly passed state Senate bill increasing taxes on high-earners in the state. Supported by Democratic Governor J. B. Pritzker, and due for constitutional ratification in November 2020, the bill would increase taxes from 4.95% to 7.75% on individual earnings above $250,000, and to 7.99% above $750,000. Considering that Illinois already has some of the highest property taxes in America, this new tax increase is very ill-advised. Successful individuals and businesses will increasingly view the state as a place that doesn’t want them.