Quote:
Originally Posted by the urban politician
^ That’s about the most positive spin on no population growth that one could ever make.
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It seems to be borne out by the data. And it explains why we're not becoming Detroit or Cleveland, which many people have warned about after seeing the population numbers.
It also seems to fit the situation on the ground with regard to real estate - the map of wealthy/upper middle areas in Chicagoland appears to be holding its ground and slowly expanding... if the population isn't growing, that could only be explained by an exchange of low earners for high earners. (Of course, there are a few areas that do appear to be in active decline, like Homewood/Flossmoor.)
Looking at the population this way is a different lens to view political issues like the graduated income tax. On the one hand, it does suggest that there is a significant and growing pool of high earners who could be tapped to help fill the pension hole... on the other hand, I think politicians need to be careful not to kill the golden goose and send high earners fleeing to other states. Hopefully Joe Biden, if elected, will reinstate the SALT deduction which could soften the blow to Illinois taxpayers of the graduated state tax.