Illinois is the #1 State (unfortunately, it’s for high taxes)
After posting yesterday's report on Illinois' patriotism ("Study Ranks Illinois Near the Bottom of Patriotic States"), I was hoping the news release on my desk this morning that read "Illinois Hits the Top!" was some much-needed good news about our state. It wasn't.
Reboot Illinois is out with a report this morning that takes a look at the states with the worst taxes in nation, based upon each state’s real estate taxes, vehicle property taxes, income taxes and sales and excise taxes. The bottom line is that we're number one, or number 51, depending on how you look at it. Since misery loves company, Wisconsin didn't do a whole lot better.
The 10 worst states for taxes are:
- New Jersey
- New York
- Rhode Island
From the Reboot Illinois story:
Okay, maybe in this context first is actually the worst. But with the current state of Springfield, some people rightfully feel like Illinois’ tax situation actually could be worse. Our income tax is lower than that of Wisconsin’s or Indiana’s, but our local taxes are way higher.
But the salt-in-the-wound moment comes from a study by the Illinois Policy Institute. It says the state actually has the tax revenue it needs, but too much of it is being spent, and it’s being spent on the wrong things.
If you get tired of paying the high price of living in the Land of Lincoln, you could always move to Alaska. It tops the list of the states with the lowest taxes.