Even the suburban residents are fleeing Illinois..

[Surgzown]

Originally Posted by Curly Q. Bobalink

Surg, with a 10% sales tax, 5% income tax (soon to go higher, at least for wealthy residents, but maybe for everyone), and a real estate tax that varies between two and four percent (and much higher for the poor folks in the far south suburbs), is there anywhere in the U.S. with higher taxes? And that's not counting things like the tax on gasoline, cigarettes, etc.. Now, many of the larger cities cost more to live there (especially those in California, Seattle, etc.) due to their much higher average housing costs, but that is largely due to the advantages of living in California, not necessarily taxes. I suppose that due to CA's onerous tax rate on very high incomes (maybe 10% over a million earned?), someone with a high income who rents has a higher tax burden than the same set of circumstances in IL, but I'm looking at the median or average person in each state. Illinois is an outlier in the world of physics, as it sucks and blows at the same time.

California has the highest state income tax rate in the entire nation. A sales tax of about 7.5 percent so yes there are places with higher taxes, believe it or not. Comparison.

[Grlzrl]

Originally Posted by Curly Q. Bobalink

Surg, with a 10% sales tax, 5% income tax (soon to go higher, at least for wealthy residents, but maybe for everyone), and a real estate tax that varies between two and four percent (and much higher for the poor folks in the far south suburbs), is there anywhere in the U.S. with higher taxes? And that's not counting things like the tax on gasoline, cigarettes, etc.. Now, many of the larger cities cost more to live there (especially those in California, Seattle, etc.) due to their much higher average housing costs, but that is largely due to the advantages of living in California, not necessarily taxes. I suppose that due to CA's onerous tax rate on very high incomes (maybe 10% over a million earned?), someone with a high income who rents has a higher tax burden than the same set of circumstances in IL, but I'm looking at the median or average person in each state. Illinois is an outlier in the world of physics, as it sucks and blows at the same time.

California has a rate of 13.3% on incomes over $1m but the difference is California has brackets. (Like the federal tax). Illinois is trying to impose higher rates on ALL income above a certain amount. Once you reach $1m, they tax ALL of your income at the same higher rate. It's a sneaky trick and most people aren't paying attention.

[damba]

Originally Posted by Grlzrl

California has a rate of 13.3% on incomes over $1m but the difference is California has brackets. (Like the federal tax). Illinois is trying to impose higher rates on ALL income above a certain amount. Once you reach $1m, they tax ALL of your income at the same higher rate. It's a sneaky trick and most people aren't paying attention.

That $1m joint/750k single ‘ladder’ point will only affect 0.3% of filers. Friends who are blessed with such income really aren’t too worried.

[DougStark]

Originally Posted by Surgzown

I’m following the discussion. It seems you aren’t following the discussion. Chicago is in a league of its own if you can comprehend what you read in a paragraph. World Class city. Name where you live now. And I can name places where taxes are worse than Illinois. So when the conversation doesn’t go your way, you just like to change the topic and say that doesn’t matter. That’s not how it works. You want to compare to other places. California and New York are other places. So now maybe you can follow along.

Yes, Chicago is a "world class city" and it is "in a league of its own" due to its size, amazing architecture, setting, and cultural/educational institutions. But IMO, these desirable titles and traits don't mean much to your average working Joe trying to make ends meet.

And BTW, a lot of cities are "in a league of their own". For example, in the US, there is nothing comparable to Los Angeles or San Francisco. I'd also add NYC, Washington DC and perhaps Boston to that list.

[damba]

Originally Posted by DougStark

IMO, these desirable titles and traits don't mean much to your average working Joe trying to make ends meet.

And BTW, a lot of cities are "in a league of their own". For example, in the US, there is nothing comparable to Los Angeles or San Francisco. I'd also add NYC, Washington DC and perhaps Boston to that list.

To your average joe who meets a young woman and would like to buy a SFH/start a family, it might. They won’t be able to come up with a downpayment let alone be approved for a loan in those other world class cities.