(The Center Square) – Outmigration has taken a major toll on the Illinois economy, according to a new report by Unleash Prosperity.
Using data from the Internal Revenue Service and the U.S. Census Bureau, analysts found that Illinois lost 881,012 residents from 2012 to 2022.
Economist Stephen Moore said only New York and California suffered more domestic outmigration than the Land of Lincoln.
“This is the sad story, same thing. New York and California and Illinois are just being bled to death,” Moore said.
VoteWithYourFeet.net breaks down the Census Bureau and IRS numbers from 2012 to 2022.
The data shows that Illinois was also one of the biggest losers for personal income, with a net adjusted gross income loss of $63,478,115,000 from 2012 to 2022. Only New York and California suffered heavier losses.
“Some of our friends on the left and some of our Democratic friends like to say, ‘Well, taxes don’t matter that much. They don’t really have an impact.’ You’re looking at the impact of taxes right here,” Moore said.
Illinois has among the highest property taxes in the country. The state also has the the second highest gas tax in the country. Gov. J.B. Pritzker said Illinois’ record-high $55.2 billion spending plan for the current fiscal year was the state’s seventh straight balanced budget. The spending increase included several tax increases and changes in corporate taxes.
On a call with members of the media about the Unleash Prosperity report, Virginia Gov. Glenn Youngkin said outmigration means fewer customers.
“And when those people take their money with them and that money represents a disproportionate amount of your state’s economic activity, you’ve got a major challenge,” Youngkin said.
Youngkin said if a state is losing money, then it is moving in the wrong direction.
“If you are shrinking, you are running a deficit. If you are growing, you are running a surplus, and its just that simple. That’s the difference between winning states and losing states,” Youngkin said.
Florida gained the most population and gained the most personal income.
“Almost $200 billion over the last ten years in net income has flowed into that state,” Moore said.
Texas finished second in both categories.
Moore said states like Illinois need to change or die.
