MICHIGAN GDP GROWS; ILLINOIS GDP IS STAGNANT-SHRINKS
June 6, 2019
MICHIGAN GDP GREW, ILLINOIS GDP IS STAGNANT TO SHRINK
In the Great Lakes region, the state GDP is highest in Michigan (2.1%). The state GDP for Illinois is a meager 1% in the last 4 years. In OH, WI and IN its somewhere in-between.
Since 2001, 11% of Illinois residents left the state and moved elsewhere. That is second biggest exodus after NY.
Now comes the Democratic Governor and Democrats controlled legislature in Illinois and increases gasoline tax by 100% - from 19 cents per gallon to 38 cents/gallon.
Gasoline tax is a regressive tax! It hurts mostly the working class that have to take a bus or train ride to go to work. It hurts malls and supermarkets’ shoppers. Gasoline tax diminishes the economic productivity of the state. It shrinks the economic pie of the tax base.
Have you ever met a politician who doesn’t like extra tax revenue? The politicians will find new ways to spend this money to enhance their chance of re-election. I forgot to mention that Michigan’s GDP grew under a Republican, Governor Snyder.