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Ever since Illinois raised its individual income tax from 3 percent to 5 percent and the corporate income tax from 7.3 percent to 9.5 percent, people have been threatening to move out of the state.
Jimmy John Liautaud, the founder of the popular gourmet sandwich shop Jimmy John’s, has already packed his belongings and moved to Florida. He’s debating taking the next step, which is moving his company’s headquarters to the Sunshine State with him.
Jimmy John’s is based out of Champaign, where 100 people are employed and hundreds travel there to train for higher positions within the company. Even though he has grown to love Champaign, Liautaud says he can’t stay in Illinois any longer.
“I could absorb this and adapt, but it doesn’t feel good in my soul to make it happen,” Liautaud said.
Before the income tax increase, Liautaud planned on expanding his offices and hiring more workers on the executive level, but those plans are long gone now.
He wishes that "the state could say they made a mistake" and "apologize."
It's a drop in the bucket compared to the rates there in France!
Not so sure I see the comparison between France and Illinois. One is a country, one is a state. Apples and oranges. If you have a point to make about Paris's income tax or a provincial tax vs. the remainder of France, feel free to try again.
Businesses will continue to flee places that are over taxed and over regulated, their employees will continue to lose their jobs and the areas that need new business and new jobs the most are the most likely to raise taxes because that's what liberal politicians do and they are the reason that taxes "need" to be raised in the first place.
I guess tempest believes that you're exempt from federal and municipal taxes when you pay Ill. taxes.
Yep
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Anyone else drinking heavily today?
