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Old 05-21-2010, 04:09 AM
 
10 posts, read 17,402 times
Reputation: 27

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Quote:
Originally Posted by Americanboy View Post
Wait a second... I thought the Northeast is dead, the jobs have dried up and everyone has flocked to the south?

It seems to me that the majority of those top 10 states are in the more northern region and not in the South.

States income rankings change dramatically when the necessary adjustment for cost of living is included in order to show real wealth i.e. purchasing power.

In an article on the excellent website Newgeography.com, Eamon Moynihan - Director of the Cost of Living Project in New York - shows that the cost of living in the state of New York was 31.8% above the national average in the 2006; this led New York dropping from 17th to 49th in the median household rankings.
The other giant liberal iconic state, California, dropped from 6th to 31st.

He didn't provide the entire list, but given how far New york and California plummeted it's highly likely that those other high costs states have a Real median household income ranking much lower than in the meaningless nominal income list you present.

The article also shows that if taxes were taken into account California would have dropped to 48th and New york state to 50th i.e. the bottom.

Here's a list of the states with the highest cost of living during the 2nd quarter of 09.

1. Hawaii 164.9(cost of living index)
2. California 135.1
3. New Jersey 126.8
4. Alaska 126.4
5. Maryland 125.8
6. Connecticut 125.3
7. New York 125.2
8. Massachusetts 123.3
9. Vermont 119.9
10.Rhode Island 119.0

The source for this list is top50states.com and the data was compiled from the Bureau of labor Statistics and various official economic websites for various states.

Given the fact that the cost of living of any state isn't going to change much in a short period of time, I used these numbers to divide some states nominal 2008 median household income stats in order to get the
Real median household income.

Maryland 70,545/125.6 = 56,166
Virginia 61,233/0.993 = 61,664
Massachusetts 65,401/123.3 = 53,042
Georgia 50,861/0.909 = 55,952
Utah 56,663/0.963 = 58,840
New York 56,033/125.2 = 44,754
New Jersey 70,378/126.5 = 55,634

Etc, Etc.

The 2008 state median income stats I got from Wikipedia.

As you can see households in states such as Georgia, Virginia, and Utah have much more purchasing power than those in New York and somewhat more than other "wealthy" northern states.
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Old 05-21-2010, 07:04 AM
 
Location: Brooklyn
40,056 posts, read 30,529,289 times
Reputation: 10490
Other than having fun with numbers, I don't see where all this is going. Are people in wealthy states supposed to pack up and move to less wealthy ones in order to make their dollars go farther? And at the same time, people in poorer states turn green with envy and plan to invade the wealthier ones?

New York is my home; I was born here, I live here and I work here. I couldn't care less about the relative wealth or spending power people have in Maryland, Georgia, or any of the other states. It makes absolutely no difference whatsoever.
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Old 05-21-2010, 10:21 PM
 
10 posts, read 17,402 times
Reputation: 27
Default It's about honesty and politics.

Quote:
Originally Posted by Fred314X View Post
Other than having fun with numbers, I don't see where all this is going. Are people in wealthy states supposed to pack up and move to less wealthy ones in order to make their dollars go farther? And at the same time, people in poorer states turn green with envy and plan to invade the wealthier ones?

New York is my home; I was born here, I live here and I work here. I couldn't care less about the relative wealth or spending power people have in Maryland, Georgia, or any of the other states. It makes absolutely no difference whatsoever.
I'm bothered by people using misleading data to make political points.
I'm not suggesting that people in poor states like New York or California move to much wealthier states like Georgia or Utah.

I am stating that if people want to judge economic policies by how wealthy a state is then they're going to be very mislead by the raw data and uncorrected rankings commonly presented on the internet and on the boob tube.

Consider how often California has been presented by the media as a shining example of cutting edge smarts and sophistication that the rest of the nation should emulate.
Using the latest numbers I can find, California's Real median household income is 42,900 and their ranking is 45th.
If people know the truth they'll use California as an example of what not to do.
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Old 05-22-2010, 10:16 AM
 
Location: IN
20,848 posts, read 35,952,730 times
Reputation: 13292
If Kansas did not have Johnson County it would rank much lower in household income.
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