Part 6/11:
The core issue lies in the city’s political approach—favoring taxes on the wealthy and big businesses to fund social programs and services. However, this strategy often backfires, as high taxes push businesses and affluent residents out of Chicago and Illinois entirely. The departure of wealthy individuals and companies, like Amazon founder Jeff Bezos moving his wealth out of Washington state to Florida, exemplifies this trend. Florida's lack of state income tax and more advantageous business environment encourage relocation, leaving Chicago to bear the brunt through increased taxes on less mobile residents.