Even the suburban residents are fleeing Illinois.. (Chicago, Schaumburg: assessors, neighborhoods)

[smegmatite]

Originally Posted by GoCUBS1

We’re talking about statistics on % high wage earners ($200k+) with Cook County seeing the #1 fastest growing concentration of high earners in the U.S., and you throw in a graph about low/middle income wage trends for the entire state ?

No doubting things are pretty good for about 200k rich people within a 2 mile radius of city hall... now what about the rest of the 11 million residents in the state?

[GoCUBS1]

Originally Posted by smegmatite

No doubting things are pretty good for about 200k rich people within a 2 mile radius of city hall... now what about the rest of the 11 million residents in the state?

I thought this thread was about “suburban residents?” Cook County includes suburbs.

[fusillirob1983]

Originally Posted by GoCUBS1

We’re talking about statistics on % high wage earners ($200k+) with Cook County seeing the #1 fastest growing concentration of high earners in the U.S., and you throw in a graph about low/middle income wage trends for the entire state ?

I don't think smegmatite's answers are entirely correct either, but you're attempting to extrapolate a single census precinct in Cook County to the entire county.

[damba]

Originally Posted by TheEnigmaMachine

I have an honest question for you then along these same lines because I am truly curious. How much money in property taxes would they have to demand from you personally before you got upset? Granted I don't know what your financial situation is, but what would be your threshold? Would 20 grand get it done? 30 grand? 100 grand?

Property taxes don’t make me upset because I am an an adult who comprehends how schools are funded, taking into consideration other costs that go into running local communities. I also incorporated regular RE tax increases in my budget when I purchased my current home. Heck, I did this on my first condo way back when I actually lived in Crook county. This way my budget was not impacted significantly when the assessors went off their meds

I remember back in graduate school when I was poor as dirt and generally miserable I used to think to myself how much easier life would be if I was raking in 6 figures. Those random 400 or 500 dollar expenses that would pop up which could potentially wreck my finances back then would be inconsequential pocket change.

Well now I make (just over) 6 figures and I can honestly say that I have not evolved in such a cavalier fashion over my expenses and how I manage my money. 500 bucks is still 500 bucks. Well how about several thousand going to prop up a corrupt kleptocracy? Yeah, thanks, but no. Who I am as a person just won't allow me to accept this fate if I have a way to avoid it, and I am thankful that I have found a way.

Nobody enjoys a string of unanticipated expenses. RE taxes however do not really fall into this category. If you want to live on the cheap, move somewhere even less expensive than WI. Granted, your need to get to Schaumburg monthly may impact your viable options before just throwing in the towel and heading back to Bolivar.

[damba]

Originally Posted by fusillirob1983

I don't think smegmatite's answers are entirely correct either, but you're attempting to extrapolate a single census precinct in Cook County to the entire county.

He’s merely illustrating that the ‘mass exodus’ is a non-event and that Chicagoland is a very mixed bag, with some very noteworthy economic activity.

[damba]

Originally Posted by GoCUBS1

A $10K+ tax bill is not as much of a concern to people who can earn higher salaries in the Chicagoland area, while also enjoying urban perks and COL advantages compared to places like NYC, Boston, etc... why is this so hard for some people to understand?

Exactly. He’s just not familiar with all of that, being more accustomed to small town MO.

[damba]

Originally Posted by edsg25

Sprawling Stevenson High School in Lincolnshire opens (still another) new addition this year for about $30 million. Obviously there was a purpose: they are expecting an enrollment surge. I'm guessing it is from people moving to IL to escape high taxes in Kansas and Alabama.

I want you to meet my friend, Mr. Strawman. He is leaving Decatur or Naperville or Wicker Park because those damned taxes are killing him. Sure he has a good job, his family and friends are close by and lots of good things are available to him, but taxes are driving him out, are the real reason for his move.

It is a good move. Ridding oneself of high taxes (but not taxes altogether: just the difference between the two states) is financially sensible since the expenses of moving (packing up and shipping, selling your house, buying a new house, leaving your job, finding a new job, the expensive search for which state would exactly and precisely over you the tax heaven (and haven) you desire.

I think it would be most interesting to set up a booth on the state line and stop all folks with a trailer loaded with furniture and ask them "Why, Mr. Chicago or Mr. Chicagoland or Mr. Downstate are you fleeing Illinois?"

To which they might reply:

"I'm hardly fleeing Illinois; I got a job transfer to Atlanta" or

"I'm hardly fleeing Illinois; my son and daughter-in-law moved to Orlando and we're joining them there." or

"I'm hardly fleeing Illinois; my fiancé lives in Boston and I'm joining her there."

I would imagine if I were moving from a "high tax state" to a "low tax state" there is a good chance that theoretically and economically I would break even. Some for that extra money I'm spending on higher taxes in High Tax State would equal the amount of money I would need to spend because Low Tax State offers so little services.

Taxation needs to be framed the right way. Medicare for All can be implemented nationally and we would no doubt save money if it were. Getting Medicare for All doesn't mean it comes free, that someone else is paying for it. No. You are still paying for your medical care. But you do so not by a co-pay or the out of pocket expenses for medication or by that bill for your operation that now has your family living on the street.

You pay for your Medicare for All through your taxes. So many Europeans are living the good life because they pay high taxes and get back higher valued services for doing so.

We live in a crazy world, a crazy nation for sure. Our metrics:

People coming in: Great!

Population staying constant: Meh

People going out: Egads! God save us

all this on a planet that was designed to have no more than 2 billion people (which it did around 1930) which manages to live with 8 or so billion today (but wants more)....all on a finite planet that is running out of stuff...and quite honestly, running out of planet.

All of that unfortunately flew right over the heads of a couple individuals in this thread.

By the way, how dare you suggest I pay taxes and receive services instead of churning my own butter behind the barn(!)

[damba]

Originally Posted by smegmatite

all in the name of destroying your freedom and energy supply

ROTFL

Someone has been spending too much time listening to Rush Limbaugh!

[damba]

Originally Posted by GoCUBS1

I’m sure your astute best friend can do the cost-benefit of $10k tax bill vs the % of $200k+ salaries in Cook County.

Sounds like you don’t know much about the business climate in Chicago...

Chicago has seen ‘meteoric’ startup growth in the last decade, report says...
https://www.bizjournals.com/chicago/...up-growth.html

Real estate tech startups are booming here
One expert says he's seeing new and innovative ideas literally every week. Can the Chicago market sustain the explosion?
https://www.chicagobusiness.com/tech...e-booming-here

“As always, we’re excited about listing Chicago on our list of top cities for startups and entrepreneurs. And this status is well deserved. Chicago stands alone, not just in the Midwest but in the United States, among the “biggest and baddest of startup cities” when it comes to profitability, according to PitchBook. That’s only one reason venture capitalists love Chicago.

Chicago’s tech proficiency is becoming increasingly more recognized in the start-up scene. KPMG’s survey of more than 800 tech leaders found Chicago in the top 10 of tech innovation hubs worldwide. KPMG Chicago’s Mike Gervasio further cited the capital market and “an innovative culture” as partially responsible in Chicago’s impressive climb up the global ladder. That culture helped garner upwards of $1.7 billion in funding last year, and Chicago is host to a multitude of promising start-ups.

Startups in Chicago make good bets for those who invest in them. In Chicago, 45 percent of investments produced 10 times a return on investment. Chicago’s numbers are routinely superior, with 81 percent of its startups producing between three and 10 percent a yield on an initial investment. Now wonder VC’s love Chicago.”
https://www.crowdspring.com/blog/sta...es-us/#chicago

I am curious to hear Enigma’s reply to these accolades and facts about Chicago. His assertion that only larger firms would bother to get involved in startups here is extremely naive.

[Grlzrl]

Originally Posted by GoCUBS1

A $10K+ tax bill is not as much of a concern to people who can earn higher salaries in the Chicagoland area, while also enjoying urban perks and COL advantages compared to places like NYC, Boston, etc... why is this so hard for some people to understand?

I don't know. Why don't you ask my cleaning lady how she feels about her $9k tax bill? She lives on the south side in a $350k house.