How Many Millionaires In Illinois?
By John Dodge
CHICAGO (CBS) — More than 5 percent of Illinois households are considered have at least $1 million, according to a wealth analysis of all 50 states.
The Global Wealth Monitor, published by Phoenix Marketing International, quantified the number of millionaires between 2006 and 2013.
In 2013, Illinois had a total of 270,414 households with at least $1 million in investable assets, or 5.54 percent of all households in the state.
That ranks Illinois No. 15 per capita for millionaires. Overall, the state has fifth-most millionaires in the country.
The top five are:
New York: 429,153
Illinois’ overall per capita ranking hasn’t changed much since 2008, but the numbers have risen steadily from 243,350 millionaires in 2006 to the current number.
An effort to tax Illinois millionaires is on hold after House Speaker Mike Madigan last week couldn’t get enough votes to push his plan through the Democratic-controlled Legislature.
Madigan blamed Republicans who “prefer and protect millionaires over school children,” his spokesman said.
The proposal sought to tack a 3 percent surcharge onto income of over $1 million, which Madigan said would raise $1 billion annually for elementary and secondary education
The state with the fewest millionaires?
Neighboring Indiana ranks 45th (101,789 households, 4 percent) and Wisconsin ranks 28th (106,647, 4.61 percent).