Tue December 28, 2010
Texas Mirrors Nation In Percentage Of High Income Earners
It's traditionally the slowest news week of the year, so thank goodness the folks at Yahoo! Finance came up with the idea of parsing new US Census Bureau data to rank states based on their percentage of high income earners. Texas came in at number fourteen, but rate of high income earners was only slightly higher than the national average.
This comes in the context of a tax cut deal in Washington that saw President Obama sign legislation extending tax cuts for people who make more than $250,000 per year.
So where do these people live? The Census Bureau counts households that make more than $200,000 per year. Yahoo! Finance reports there are more than 4.5 million such households in the United States, about 3.8 percent of all households in the country.
The rate in Texas is 3.9 percent, with 313,681 households earning more than $200,000 annually. We came in just ahead of Minnesota and just behind Washington State in percentage of households making more than $200K.
Washington DC came in first place with 8.4 percent of households making more than $200,000 per year.
Check out the full ranking by visiting the story at Yahoo!