Why is this called a "Millionaires" tax

[dandxg]

Mav I actually agree completely Texas is good value, I know many Texans in Colorado that moved here because the weather sucks there, but hey I have considered moving there. I actually felt bad for you before I looked up your state income tax, 3% isn't bad compared to NY or CA. But I know Chi town ain't cheap. Our family friend lives 1/4 mile from Navy pier.

 

[Maverick74]

Quote from dandxg:

Mav I actually agree completely Texas is good value, I know many Texans in Colorado that moved here because the weather sucks there, but hey I have considered moving there. I actually felt bad for you before I looked up your state income tax, 3% isn't bad compared to NY or CA. But I know Chi town ain't cheap. Our family friend lives 1/4 mile from Navy pier.

Well Illinois has a 14 billion dollar budget hole and they are talking about raising state income taxes to 5%. But yes, our state income taxes currently are not the major issue. To me it's about affordability. Having lived in NY for 2 years Chicago feels like a downright bargain and it is compared to the big apple. But for families here that want to live a high quality life, it will cost you.

Colorado does seem like a great place to live though. I've always want to live there or at least have a vacation home there. But it really is amazing what you can get for your money in TX. And to top that off you actually have a good economy. Illinois has one of the highest unemployment rates in the country and if you remove government workers, Chicago is awful right now. So you really have to look at the big picture. Jobs, taxes, crime, cost of living and quality of life.