Source Title: Illinois among big losers as people and their incomes move to other states
Every Monday, the Tax Foundation -- a non-partisan, non-profit research organization that has monitored tax policy at the federal, state and local levels since 1937 – puts out a Monday Map examining some aspect of tax or financial policy.
This week’s topic is the movement of personal income between states from 2000 to 2010. Illinois was on the wrong end of this trend, ranking third for most income flowing across its borders and into other states.
The Tax Foundation’s Richard Borean explains:
This week, our Monday Map draws data from our interactive State Migration Calculator, and illustrates the interstate movement of income over the past decade (from 2000 to 2010). When a person moves to a new state, their income is added to the total of all other incomes in that state. This positively affects the total taxable income in his or her new state, and negatively affects the income in the state he or she left.
Florida benefited the most—interstate migrants brought a net $67.3 billion dollars in annual income into the state between 2000 and 2010. The next two highest gainers were Arizona ($17.7 billion) and Texas ($17.6 billion). New York, on the other hand, lost the most income ($-45.6 billion), and is followed by California ($-29.4 billion) and Illinois ($-20.4 billion).
View previous maps here.
Extra Type: Infographic- See more at: http://www.rebootillinois.com/illinois-among-big-losers-as-people-and-their-incomes-move-to-other-states?-business=&utm_source=email&utm_medium=infographic-jobs-&-business&utm_campaign=illinois-among-big-losers-as-people-and-their-incomes-move-to-other-states-12/20/2013&utm_source=Facebook&utm_medium=infographic-jobs-&-business-12/21/2013&utm_campaign=illinois-among-big-losers-as-people-and-their-incomes-move-to-other-states-12/21/2013#sthash.xsCTQMnE.dpuf