1) Businesses are NOT undergoing a mass exodus because of this TEMPORARY tax increase. (Yes, GHOOK, I'll bet you didn't know that, did you?)
The tax increase was enacted as a temporary measure and is slated to drop back to 5.25 percent in 2015.....
2) It's making the state money......
3) Illinois is also prevented from increasing spending.....
A spending cap would limit state spending through 2015. If lawmakers were caught exceeding the new limits, the new tax rates would revert to their original rates.
Illinois tax increase: why lawmakers passed 66 percent income-tax hike - CSMonitor.com
4) CAT not only did NOT leave they invested a BILLION more dollars in their ILLINOIS operations. But I've already covered that with GHOOK. So he knows not to go there.
5) Illinois is STILL the best state in the US in which to earn a living.
Rankings of the Best 10 States for Making a Living
GHOOK.....We've gone over and over this and yet you simply refuse to post all of the FACTS everytime you go here. And then I'm forced to post ALL of the facts and prove you wrong.
you are mixing apples and oranges, here;
Illinois, no. 48.
Best/Worst States for Business | ChiefExecutive.net | Chief Executive Magazine
Your link and comment does not negate the fact that Illinois remains the best state in the nation to make a living.
Of course businesses are going to rate highly any state that has no taxation and a workforce that is content to be among the lowest paid in the nation. But even sucky, low skill and low paying jobs are better than no jobs so that helps explain why people are willing to pull up and go there during these economic hard times.
Also the reason that Illinois dropped so dramatically is because of the TEMPORARY tax increase. It will revert back in 2015. Let's see what happens then. But there has not been any "mass exodus" of businesses. That was just a scare tactic that the Repubs used.
Illinois is getting its financial house in order. They're getting a handle on pension obligations and recently revamped worker comp laws.
Illinois lawmakers approve workers comp reform bill | Business Insurance
It's important that businesses AND workers share in the pain to get Illinois back on its feet. But it's happening and once Illinois gets through this rough patch we'll see then what happens to those rankings.