IRS Reports that Illinois has Lost $10 Billion in Income Thanks to Citizens Moving Out of State
Dysfunctional, left-wing Illinois has reportedly lost almost $10 billion in income just in the last year because citizens have had just about enough of the place and are moving out by the thousands every year.
This isn’t some right-wing website saying this. It is a report by the Internal Revenue Service, according to Just the News.
The federal data shows that over the last year another 87,000 residents shut down their homes and moved away and they took $10 billion in earnings with them. But it has been going on for years. The IRS notes that since 2018, Illinois has seen $47.5 billion in incomes leave the state.
While Last year did see a shift in the trend of citizens moving out of state, the tiny uptick is meaningless compared to the fact that the state has lost 264,000 citizens since 2021 alone. Meanwhile, only 177,000 moved in. That is a net loss of 87,286.
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While 14,486 people moved to Illinois from California in 2022, bringing with them $1.5 billion in income, the latest IRS data shows 31,600 of those who left Illinois went to Florida, taking with them $4.1 billion dollars.
Total lost income out of Illinois because of outmigration was $9.8 billion in 2022. Last year’s IRS migration report found 105,000 fewer individuals, taking with them $10.6 billion. The year before that, nearly 101,000 people left Illinois, taking with them $8.5 billion.
For the calendar year 2018 to 2019, IRS data shows 82,107 fewer individuals in Illinois, taking with them nearly $6 billion. From 2017 to 2018, data shows 87,673 fewer exemptions and $5.6 billion in lost adjusted gross income. In calendar year 2016 to 2017, IRS data shows 133,769 fewer exemptions, taking with them $6.8 billion.
All this income lost, of course, means millions in lost tax revenue, as well.
Illinois is one of the most dysfunctional states in the union. It is also unrecoverable with a veto proof Democrat super majority and all the state offices in the hands of the rapacious, anti-American Democrats… not to mention the fact that the “Republican” Party in the state is mostly led by Democrats and liberals. In fact, there really isn’t any Republican Party in Illinois. Hasn’t been for 30 years.
So, all Illinois does it get worse every single year. And citizens are voting with their feet.
Follow Warner Todd Huston on Facebook at: facebook.com/Warner.Todd.Huston, or Truth Social @WarnerToddHuston
Cross-posted with The Lid
Related:
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- Illinois’ Richest Man Moves Billion-Dollar Business to Florida over Chicago’s Horrific Crime Problems
- Illinois Bill HB 5170 Requires $1M Liability Insurance for Gun Owners
- One U.S. City Is So Unpleasant, Illegal Migrants Abandon It For Socialist Venezuela!
- Democratic-Run States Are Losing Population, Power, And Congressional Seats
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