Post: #1

This was touched on in another thread.

https://www.illinoispolicy.org/3-proposa...-illinois/

There are a number of states that are facing similar issues so it is relevant to other places as well.

Now that state taxes are only deductible up to $10k, state tax bills for high earners effectively took a 35% hike.

Highly taxes blue states could be in trouble due to high earners leaving to lower tax states such as TX, FL, etc.

Illinois is facing financial insolvency if it doesn’t get its act together. Years of overspending, borrowing and taxing have left it with gaping budget holes, eye watering pension liabilities and a shrinking population.

Now, IL is almost certain to have a New Democratic governor and all the candidates are pushing for progressive income tax rates.

IL residents are already some of the most taxed in the country.

One of biggest issues is a shrinking tax base. 600k residents have left since 2010.

Those emigrating from the state have been found to be well above average income earners. One study found the average salary of those leaving the state was $80k.

In 2015 alone, IL lost 3,000 millionaires.

This move - especially combined with the recent federal tax reform - could be absolutely catastrophic.

Any thoughts on this? Your home states finances? Etc. etc.

Post: #2

Been in a high tax bracket since 2010 and I'm sick of the IRS rape and property taxes.

Only thing keeping me here is family. It would kill them to see me move, and I actually want to raise my future children around my parents and family members. Beside this, fuck IL. Anywhere else you go your money can work for you. Pure fuckery here.

Don't see how folks can retire comfortably knowing that their cost of living increases every single year. Even the ballers are hurting over here.

Post: #3

Detroit 2.0 in the near future. The public pension liability there is a joke. You have retired state employees raking in hundreds of thousands of dollars a year in pension payments while working second jobs earning around the same.

Post: #4

Isn't this a little like the federal student loan scam? If students default and cannot pay... the taxpayers pick up the tab - i.e. the federal govt?

Not that I think they should, of course. Any city like Detroit or deadbeat state like Illinois should be made to clean up their own mess and not pass it on to his neighbor.

Post: #5

(03-03-2018 07:23 PM)Soothesayer Wrote:  Isn't this a little like the federal student loan scam? If students default and cannot pay... the taxpayers pick up the tab - i.e. the federal govt?

No, its different. The student loans are guaranteed by washington. Illinois pensions really aren't guarateed by anyone except Illinois taxpayers.

Post: #6

Funny thing about Illinois is that they produce a decent percentage of the world's soy. Not America, the world. You'd think that would help your economy, but no dice

Aloha!

Post: #7

(03-04-2018 03:45 PM)Kona Wrote:  Funny thing about Illinois is that they produce a decent percentage of the world's soy.

Post: #8

^^^^ Yep. Look at all that soy running right down the mississippi river. The shit is seeping into the water. Run the numbers.

Aloha!

Post: #9

(03-04-2018 04:10 PM)Kona Wrote:  ^^^^ Yep. Look at all that soy running right down the mississippi river. The shit is seeping into the water. Run the numbers.

Aloha!

That soy is for animal feed.

But if the milk you drink comes from a cow who eats soy.



Forget running the numbers, what happens when the bulls no longer want to run?



There is no escape.

Post: #10

They'll just keep increasing taxes.

NE states did this a long time ago, people around Chicago especially don't know what's coming (how much further the taxing can go), but it won't be a surprise to anyone else who has lived in blue machine city states before.

I think the pension crisis hits first.

Post: #11

Anyone that has to stay around Chicago because of family should look at Northwest Indiana or maybe Southeast Wisconsin. There are some towns in Indiana that are cheap as shit and ~30 minutes from the Loop. The Metra goes to Kenosha and the South Shore Line goes all the way to South Bend. Milwaukee is too far for a daily commute but it's 90 minutes away and like a smaller, cheaper Chicago. Indiana might not be sexy but at least it's not run by complete retards. Wisconsin is a much better option as well. Plenty of nice places to raise a family in both states.

I would do whatever it takes to keep my money out of the parasitic, incompetent and greedy hands of Illinois, Cook County and city of Chicago. I can't wait to move to another region of the country.

Post: #12

I moved over to Missouri. But I still work in Illinois.

Post: #13

(03-03-2018 02:53 PM)Ballr Wrote:  Been in a high tax bracket since 2010 and I'm sick of the IRS rape and property taxes.

Only thing keeping me here is family. It would kill them to see me move, and I actually want to raise my future children around my parents and family members. Beside this, fuck IL. Anywhere else you go your money can work for you. Pure fuckery here.

Don't see how folks can retire comfortably knowing that their cost of living increases every single year. Even the ballers are hurting over here.

I'm in Massachusetts and I'm only here because of family, I've got not only immediate family but something like 60 relatives I see regularly. It's really a horrible state in terms of not just tax but housing, I'm paying $1300 for a studio (big one though) in a small City that's not hot at all. That's not even getting into liberal politics and queer liberal men running around.

I would have bit the bullet and left if my sister and brother and law hadn't started having kids recently, love my nieces and nephews.

I will have to leave at some point because I want kids (possibly wife too) and will not raise kids in the belly of the beast of the Northeast.

Post: #14

Yeap. I am from Chicago, but probably going to work somewhere else.
Florida is the fastest growing state as of right now. The RE is really starting to develop over there.

Post: #15

(03-04-2018 08:56 PM)TigOlBitties Wrote:  Anyone that has to stay around Chicago because of family should look at Northwest Indiana or maybe Southeast Wisconsin. There are some towns in Indiana that are cheap as shit and ~30 minutes from the Loop. The Metra goes to Kenosha and the South Shore Line goes all the way to South Bend. Milwaukee is too far for a daily commute but it's 90 minutes away and like a smaller, cheaper Chicago. Indiana might not be sexy but at least it's not run by complete retards. Wisconsin is a much better option as well. Plenty of nice places to raise a family in both states.

I would do whatever it takes to keep my money out of the parasitic, incompetent and greedy hands of Illinois, Cook County and city of Chicago. I can't wait to move to another region of the country.

Good points. Chicago is becoming increasingly less sustainable for the middle class. Either you make a lot of money (and pay a shitload of taxes) or you're able to be highly subsidized. Indiana is definitely a smart option if you can make it work. If you're a much younger single guy you might still want to bite the bullet & live in Chicago for dating & logistics sakes.

Post: #16

Illinois could very easily turn things around if they wanted to but this entire state is such a fucking shit show it's a joke. We've privatized parking and much of the lake front taking short term money over longterm wealth.

Michael Madigan is really fucking this state in the asshole, there's a fascinating CNBC documentary about him as well as the workings of the state. Not only are our politicans corrupt but the entire system is setup to not allow positive change.

Recently we've upped our state income tax, property taxes are going up, corporate taxes are going up. This is a very un business friendly state with high fees and too much regulation.

Illinois has a lot going for it, like you guys pointed out soy beans, Chicago despite it's issues is a great place to visit, great food, great bars, lakefront, lots going on, its a major hub in the middle of the country, major international airport. Shit if we legalized weed here and stopped wasting money we could have this state turned around in like 3 years but unfortunately everyone continues to kick the can down the road letting someone 4 year or 8 years from now deal with the problem.

For anyone from Illinois or just interested in ILlinois and Chicago politics highly recommend giving this documentary a watch...

https://www.youtube.com/watch?v=ZgVP3H122nw

I hate when people cheerlead Chicago and basically say all this bullshit is acceptable because it's a "world class city" yeah Chicago is a pretty fucking cool city. Its IMHO as good as LA or NY but without the high prices and shitty attitudes, it's more "real" to me. We have an awesome bar and club scene, summertime is a ball with the lakefront and all the street festivals and stuff, amazing food, good job opportunities and while taxes are going fucking nuts its still a pretty affordable city for what you get.

On a total side note Chicago just won a battle in the courts to start charging a 9% tax on netflix, hulu, etc. Basically Chciago has this bullshit luxury tax or recreation tax, forget what its called but basically dining out, movies, bowling are all subject to an additional sales tax. Courts ruled they can now tax your netflix and hulu and streaming services as well. Basically just to illustrate the kind of bullshit that goes on in this state, were already taxed twice on gas, high property taxes high income taxes, and then they nickel and dime us with bullshit like this, soda tax, plastic bag tax, etc they are always trying to find something new to tax.

https://www.forbes.com/forbes/welcome/?t...oogle.com/

Post: #17

Illinois is a lost cause, especially Chicago. Corruption, anti-business, dying city, horrific crime.

It's a sinking ship. The only thing that's gonna change the situation is that people keep moving out in droves, and the legislators/ politicians come to their senses and see the error in their ways. I don't see that realistically happening any time soon.

Post: #18

Chicago is essentially the NYC of the Midwest. A liberal metropolis that still lives because its private sector continues to attract "young professionals" that can't get enough of the opiate of fat private sector checks, slutty post sorority chicks, bars/nightclubs & trendy restaurants. LOL, I mean in my 20's I often fell for the mirage myself. Chicagoland also has a shit ton of aging middle managers, trial lawyers & other white collar types that continue to feed off of this economy lol. Let's not even get started on the government sector & the hood, lol. We're gonna have to think bigger in order to fix the larger problem at hand.

BTW, I live in Michigan now (near Detroit) but I was born in Chicago & grew up in the Chicagoland area so I'm well aware of the Chicago way & how things operate around there. jamaicabound, I'm gonna watch that Mike Madigan documentary on YouTube when I get a chance.

Post: #19

(06-13-2018 04:42 PM)Dragan Wrote:  Illinois is a lost cause, especially Chicago. Corruption, anti-business, dying city, horrific crime.

It's a sinking ship. The only thing that's gonna change the situation is that people keep moving out in droves, and the legislators/ politicians come to their senses and see the error in their ways. I don't see that realistically happening any time soon.

I think Chicago has a lot going for it, so if it really does go the way of Detroit it's going to take a lot longer for it to happen.

For anyone who wants to be near Chicago but not deal with the taxes and bullshit of Chicago and Illinois NW Indiana is pretty nice. Munster area in particular is voted one of the best places to live. A lot of people treat Indiana as if its a dump and full of white trash, but many parts of NW Indiana, ie especially Munster and surrounding areas are pretty much like the Western Suburbs of Chicago which are pretty nice. Munster has 3 Floyyds Brewery and a good number of other breweries and while technically your out of state, Munster and surrounding areas are actually closer to Chicago than many of the actual "Chicago suburbs". They even have a train line going into the city and it's a short drive.

That said I suppose if Illinois goes to shit who wants to be in NW Indiana to be close to it anyways though.

Post: #20

(06-13-2018 09:24 PM)jordypip23 Wrote:  Chicago is essentially the NYC of the Midwest. A liberal metropolis that still lives because its private sector continues to attract "young professionals" that can't get enough of the opiate of fat private sector checks, slutty post sorority chicks, bars/nightclubs & trendy restaurants. LOL, I mean in my 20's I often fell for the mirage myself. Chicagoland also has a shit ton of aging middle managers, trial lawyers & other white collar types that continue to feed off of this economy lol. Let's not even get started on the government sector & the hood, lol. We're gonna have to think bigger in order to fix the larger problem at hand.

BTW, I live in Michigan now (near Detroit) but I was born in Chicago & grew up in the Chicagoland area so I'm well aware of the Chicago way & how things operate around there. jamaicabound, I'm gonna watch that Mike Madigan documentary on YouTube when I get a chance.

Yeah check it out, really fascinating documentary. One of my favorite stories in there, and there's a lot, is one where a young guy tried to run against him. He purposely waited till the last minute to drop off his packet because he knows the shenanigans that go on. He goes to walk it up to the counter with minutes to spare and low and behold all the sudden two hispanic guys stand up adn turn in packets as well.

Madigan is in a hispanic district so he knows they'll draw enough votes away from this opponent to where Madigan wins. The guys who were running were not politicians, heck I don't even think they spoke English, just some hispanic names to draw away votes, thats the type of stuff Madigan does. Madigan also did a pretty dirty campaign digging up a and really promoting the hell out of some mischief the guy had gotten into during his youth with credit card fraud or something like that. The last part isn't that surpring politicians dig up dirt on each other but the thing with the fake candidates was pretty shady.

How are you liking Michigan? I've actually been considering moving there. Grand Rapids is a really cool city. I really love SW MIchigan Berrian county and would love to live there in the spring and summer but winter I think would be boring as hell as most of those towns are beach towns and everyone clears out and businesses close down in the winter. That said your still only like an hour maybe an hour and a half from Chicago and you can even catch a metra back from new buffalo if you wanted to.

Total side note but have you ever been to Torch lake out sorta near Grand Rapids? It's supposed to be one of the most beautiful lakes in the world, water is turqouise like the caribean. Wanted to get an air bnb out there adn check it out this summer.

Post: #21

Wow what is that lake called?

Chicago is an absolutely brilliant place to live. An incredible city.

As Bourdain once said, the only other real metropolis in the US.

The state and city politics are dire. But the city is fucking fantastic.

Fuck your sprawling, car-riding oversized towns like LA or your little baby cities like SF or Miami.

Post: #22

In regards to Chicago always having their hand in your pocket on top of already high taxes and what have you, I mentioned Netflix and Hulu now getting taxed, then saw this article this morning...

Rahm is now gonna put an additional tax on AirBNB rentals...

http://www.chicagotribune.com/news/local...story.html

Post: #23

(06-14-2018 07:18 AM)jamaicabound Wrote:  

(06-13-2018 04:42 PM)Dragan Wrote:  Illinois is a lost cause, especially Chicago. Corruption, anti-business, dying city, horrific crime.

It's a sinking ship. The only thing that's gonna change the situation is that people keep moving out in droves, and the legislators/ politicians come to their senses and see the error in their ways. I don't see that realistically happening any time soon.

I think Chicago has a lot going for it, so if it really does go the way of Detroit it's going to take a lot longer for it to happen.

For anyone who wants to be near Chicago but not deal with the taxes and bullshit of Chicago and Illinois NW Indiana is pretty nice. Munster area in particular is voted one of the best places to live. A lot of people treat Indiana as if its a dump and full of white trash, but many parts of NW Indiana, ie especially Munster and surrounding areas are pretty much like the Western Suburbs of Chicago which are pretty nice. Munster has 3 Floyyds Brewery and a good number of other breweries and while technically your out of state, Munster and surrounding areas are actually closer to Chicago than many of the actual "Chicago suburbs". They even have a train line going into the city and it's a short drive.

That said I suppose if Illinois goes to shit who wants to be in NW Indiana to be close to it anyways though.

Munster is a nice town. As a 3 year old, my parents briefly had us living in Highland, Indiana nearby. Highland isn't quite as nice (probably a bit more weathered & middle of the road at best type of area). Also had relatives that lived in Lansing, Illinois for some years (not as nice as Munster). Another highly desirable town a bit south of Munster is Saint John, Indiana. I've also heard good things about Dyer, Indiana.

Post: #24

(06-14-2018 07:24 AM)jamaicabound Wrote:  

(06-13-2018 09:24 PM)jordypip23 Wrote:  Chicago is essentially the NYC of the Midwest. A liberal metropolis that still lives because its private sector continues to attract "young professionals" that can't get enough of the opiate of fat private sector checks, slutty post sorority chicks, bars/nightclubs & trendy restaurants. LOL, I mean in my 20's I often fell for the mirage myself. Chicagoland also has a shit ton of aging middle managers, trial lawyers & other white collar types that continue to feed off of this economy lol. Let's not even get started on the government sector & the hood, lol. We're gonna have to think bigger in order to fix the larger problem at hand.

BTW, I live in Michigan now (near Detroit) but I was born in Chicago & grew up in the Chicagoland area so I'm well aware of the Chicago way & how things operate around there. jamaicabound, I'm gonna watch that Mike Madigan documentary on YouTube when I get a chance.

Yeah check it out, really fascinating documentary. One of my favorite stories in there, and there's a lot, is one where a young guy tried to run against him. He purposely waited till the last minute to drop off his packet because he knows the shenanigans that go on. He goes to walk it up to the counter with minutes to spare and low and behold all the sudden two hispanic guys stand up adn turn in packets as well.

Madigan is in a hispanic district so he knows they'll draw enough votes away from this opponent to where Madigan wins. The guys who were running were not politicians, heck I don't even think they spoke English, just some hispanic names to draw away votes, thats the type of stuff Madigan does. Madigan also did a pretty dirty campaign digging up a and really promoting the hell out of some mischief the guy had gotten into during his youth with credit card fraud or something like that. The last part isn't that surpring politicians dig up dirt on each other but the thing with the fake candidates was pretty shady.

How are you liking Michigan? I've actually been considering moving there. Grand Rapids is a really cool city. I really love SW MIchigan Berrian county and would love to live there in the spring and summer but winter I think would be boring as hell as most of those towns are beach towns and everyone clears out and businesses close down in the winter. That said your still only like an hour maybe an hour and a half from Chicago and you can even catch a metra back from new buffalo if you wanted to.

Total side note but have you ever been to Torch lake out sorta near Grand Rapids? It's supposed to be one of the most beautiful lakes in the world, water is turqouise like the caribean. Wanted to get an air bnb out there adn check it out this summer.

Main reason I'm sticking around the Detroit area is divorce rape (lol) & son is growing up here. Michigan as a whole is a beautiful state indeed. The weather is very similar to Illinois. But the lake effect snow is much more pronounced in western & southwestern Michigan. But yeah summertime there's a reason why folks from all over love to head to those lakeshore towns in west & northern Michigan. Yep you mentioned New Buffalo. I have vacationed out there before & I know Chicago's storied Daley family maintains a compound right around there as well. If you head a bit further north along the coast up to South Haven you'll notice that it's almost 50% Illinois & 50% Michigan license plates in the summer (ok maybe a few Indiana plates too lol).

Post: #25

Well I guess the latest big news story outta Chicago is that Elon Musk's firm has been tapped to build a high speed shuttle between downtown Chicago & O'Hare International Airport. A shuttle service that can whisk passengers from the center of the city to the airport in 12 minutes! LOL.

That's the funny thing about the Chicago Way & the financial mismanagement over the years. Despite all of that, the city still embarks on these futuristic projects whether skyscrapers or transportation breakthroughs (ie. O'Hare, etc.).