The Illinois Better Government Association reports
When Illinois’ income tax rate jumped a record 67% earlier this decade, critics warned it would drive away the wealthy who invest in businesses and jobs. Instead, IRS data show, the better off flourished.
Similar arguments are now being raised by opponents of Gov. J.B. Pritzker’s push for a new and steeper tax hike on the wealthy. But if past is prologue, a trove of federal data on Illinois taxpayers undercuts predictions of a stampede for the exits among residents of means.
