This Won't End Well

Class warfare at the ballot box never ends up the way the "elites" want it to:

• A 3% tax on individual income over $1 million would flood Illinois’ coffers with at least $4.5 billion in new revenues annually, a new state estimate shows weeks ahead of an advisory referendum on earmarking that money for property tax relief.

  The estimate, obtained by WBEZ through a state open-records request, marks the first time Gov. JB Pritzker’s Revenue Department has weighed in on the effects of imposing that new proposed tax on the state’s wealthiest citizens to ease what is a leading financial issue daunting the middle class.

  Voters are being asked this question now because lawmakers in May voted to bring it forward as part of a broader election package that Pritzker signed.

  The exact wording of the ballot question reads: “Should the Illinois Constitution be amended to create an additional 3% tax on income greater than $1,000,000 for the purpose of dedicating funds raised to property tax relief?”

"flood Illinois coffers"? Not likely.

You know what will flood? Millionaires leaving Illinois for other locations, or at least changing their primary residences. New Jersey tried this a few years ago, and more than half of all millionaires (who had already fled New York), left New Jersey for tax-friendlier locales. These are the people who can afford a second (or a third) house and can easily afford to move, even if it's just on paper. They have lawyers on retainer to do the paperwork adjusting titles, insurance, voting addresses, etc. Hell, Bruce Rauner moved himself and his company to Florida rather than stay in this rapidly devolving state.

And guess who's left behind to pay an even bigger portion Illinois' out-of-control debt?