Subject: Illinois' Demographic Collapse Continues: Get Out As Soon As You Can
https://www.zerohedge.com/news/2018-02-24/former-calpers-board-members-shocking-admission-calpers-near-insolvency-it-needs
 | Illinois is shrinking... Residents are leaving the state in record numbers. The number of Americans moving into Illinois has hit new lows...in the midst of a perfect demographic storm. www.zerohedge.com |
I can vouch for this.
I prospected a real estate agent a few years ago. She had moved from Cook County (greater Chicago) to Houston.
I mentioned to her over the phone that Texas had no state income tax, but had high property taxes and a sales tax of over 8 percent.
She replied, "Illinois has high property taxes, a state income tax, and a sales tax of 10 percent." http://www.sale-tax.com/Illinois
| The latest sales tax rates for cities in Illinois (IL) state. Rates include state, county and city taxes. 2018 rates included for use while preparing your income tax deduction. www.sale-tax.com |
Heck, this was reinforced just a few minutes ago.
I was stuck behind a brand new pickup truck with Illinois license plates at the entrance to my apartment complex. The truck was stopped. It's driver had to enter the gate code to get into my complex.
Folks vote with their feet and their wallets.
They have voted with their feet to leave California and now Illinois, and move to Texas. https://www.autoblog.com/2014/04/28/toyota-moving-us-headquarters-plano-texas/
 | Toyota has announced that it is moving its headquarters out of California and into Texas, a story first reported by Autoblog over the weekend. www.autoblog.com |
At some point both California and Illinois will completely implode, and then Uncle Sam will have to step in and make good on both California's and Illinois's state pension obligations.
| Pension funding is a hot topic in the political world. Retirees who have worked their entire lives end up retiring with very little to their name or have a very difficult time accessing their ... www.americanthinker.com |
 | "The pension crisis is inching closer by the day... Cities point to possible insolvency if payments keep rising but CalPERS is near insolvency itself. It may be reform or bailout soon." www.zerohedge.com |
2 comments:
Pritzker the new Governor was now the graduated income tax. Tax the rich so he says. Wait and see. All of us will get hit.
They let these bum teachers retire at 55 and get 85% of their salary in pensions. Completely unsustainable like Greece. Not to mention a lot of them move to Florida etc and all that money from taxpayers leaves the state. I say null and void that and set the retirement age to 67 like I'm stuck with and set the pension to the exact same amount for all, and require them to maintain a residence in the state for at least 8 months. Anyone loafing around at 56 has to get their ass back to work.
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